THREE south Essex people were jailed for a total of more than 15 years after being convicted of being involved in the country’s biggest ever boiler room scam.
Shaun Rumsey, 33, from Basildon, was jailed for five years, Daniel Gooding, 39, sister Emma Farmer, 41, from Oaklands Park, Hutton in Brentwood, received three years.
All had denied one count of conspiracy to defraud.
They were part of the senior management of three Madrid boiler rooms Tresaderns & Partners, Price Stone Group and Anderson McCormack.
Their convictions follow a seven-year probe named Operation Steamroller.
Gooding and Farmer’s mum Michelle Coleman, 62, from the same address pleaded guilty to three counts of money laundering in connection with the huge shares fraud that netted £70million and was sentenced to 21 months imprisonment, suspended for two years.
The total sum she laundered was £252,425 of which £158,000 was kept by her.
Serious Fraud Office investigators said the crooks used the cash to fund lavish lifestyles, including overseas properties, wine collections, luxury yachts and private jet hire.
Read more in tomorrow's Echo.