Taheer Sardar Jailed for 18 Months in £1.3 Million Boiler Room Fraud Case

On May 7, 2024, Southwark Crown Court convicted Taheer Sardar to eighteen months in jail for obstructing the administration of justice. The £1.3 million boiler room scheme that duped 120 investors was the source of Sardar’s crime. Sardar’s involvement was discovered during the Financial Conduct Authority’s (FCA) inquiry into the fraudulent scheme. Working with Raheel Mirza, Sardar gave the investigators a fake paper purportedly signed by “Mohammed Khan” throughout the probe.

In April 2023, Mirza was found guilty on two counts of conspiracy to defraud and perverting the course of justice. He was given an eight-year sentence for fraud and an eighteen-month combined term for perverting justice.

Sardar was sentenced on May 7, 2024, following his guilty plea. The FCA press statement describing the case is available here: Financial Conduct Authority.

Taheer Sardar has been sentenced to 18 months’ imprisonment for perverting the course of justice.#FinancialServices #Fraud #FinancialCrimehttps://t.co/SDo0QLyOxR

— Financial Conduct Authority (@TheFCA) May 10, 2024

High-pressure sales tactics are used in boiler room scams, a sort of investment fraud, to convince victims to part with their money for unsuitable or useless things. The FCA offers guidance on identifying and avoiding boiler room fraud on its website.

More information

• Sardar was born on June 16, 1978, and is an East London resident.
• For the £1.3 million scam, three people—Mirza, Mr. Solaja, and Mr. Vickers—were found guilty and given a combined sentence of 23 years.
• Reporting limitations applied to the facts surrounding Raheel Mirza’s conviction on April 3, 2023, for perverting the course of justice until Taheer Sardar’s trial concluded. A primary criminal offense, perverting the course of justice, carries a maximum punishment of life in prison.
• On April 3, 2023, Raheel Mirza was found guilty of conspiring to commit fraud and perverting the course of justice. For perverting the course of justice, he was sentenced to 18 months consecutively, followed by an 8-year term for fraud.