consumer duty

Taheer Sardar sentenced for obstructing justice in £1.3m boiler room fraud case

Taheer Sardar has been sentenced to 18 months in prison for perverting the course of justice during an investigation into a £1.3m boiler room fraud. The sentencing took place at Southwark Crown Court, following Sardar’s guilty plea on May 7th, 2024.

Sardar was implicated in a Financial Conduct Authority (FCA) investigation into a scam that defrauded 120 investors.

While he was not found to be directly involved in the fraud itself, which led to the conviction and sentencing of three individuals—Mr. Mirza, Mr. Solaja, and Mr. Vickers—to a combined 23 years in prison, Sardar attempted to disrupt the investigation.

He provided a forged document claiming it was signed by a “Mohammed Khan,” in an effort to support a defence by the accused individuals, who falsely alleged Khan was the fraud’s architect.

At the sentencing, Recorder Mr. Gavaghan emphasised the severity of the crime, stating: “This was a sophisticated attempt using a forged document to undermine the course of justice…[it was] a very serious offence that strikes at the very core of the legal system.”

Steve Smart, joint executive director of Enforcement and Market Oversight at the FCA, commented on the conviction, asserting that Sardar’s actions serve as a stark warning against attempting to obstruct justice. “Perverting the course of justice is a serious offence, and the FCA will not hesitate to take action when it identifies this has taken place,” said Smart.