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Madeira Investment Scam's Ringleader Sentenced To 13 Years

Law360, London (September 14, 2018, 9:45 PM BST) -- A man whom the Financial Conduct Authority has called the “controlling mind, instigator and the main beneficiary” of a £2.8 million ($3.59 million) investment scam was jailed at a London court on Friday for a total of 13 years.

Michael Nascimento was sentenced at Southwark Crown Court to 11 years' imprisonment following a prosecution brought by the FCA that resulted in his conviction on charges of fraud by abuse of position, conspiracy to defraud and perverting the course of justice.

He received an additional two-year sentence...
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