City of London gold scam: US fraudsters stole $7m from 400 victims in boiler room ruse

Four American con artists have been jailed for stealing $7m (£4.7m, €6.2m) from hundreds of investors in a boiler room scam that promised to mine huge amounts of gold out of Nevada and Montana.

More than 400 victims had invested in Own Gold LLC, which used boiler rooms based in Spain to cold-call victims on both sides of the Atlantic.

City of London gold scam: US fraudsters stole $7m from 400 victims in boiler room ruse