Christopher Wright, Boiler Room Fraud, New York 2023

CHRISTOPHER WRIGHT, a key player in a massive international boiler room scam, has been sentenced to 52 months in prison for his role in defrauding elderly victims out of over $16 million.

WRIGHT and his co-conspirator, STEVEN HOOPER, operated a complex telemarketing scheme that targeted victims in the United Kingdom, selling them false, fraudulent, and materially misleading investments, including the stock of Florida-based corporation DirectView Holdings, Inc. and fake ‘carbon credits.’

The scheme, which lasted from 2009 to 2015, involved telemarketers cold-calling potential victims, who were primarily elderly or retired individuals, and persuading them to invest money under false pretenses. Victims were promised short-term, high-yield, no-risk returns, but in reality, the investments were high-risk, illiquid, and in some cases, entirely fictitious.

WRIGHT and HOOPER used the services of telemarketing call centers to identify and cold-call potential victims, who were persuaded to make additional investments under the false pretense that they would not be permitted to sell their holdings until they purchased more. In reliance on the false representations and promises, the victims wired funds to various bank accounts in the United States, including in the Southern District of New York.

The victims never received a refund on their principal or any return on their investments. In order to conceal the nature, location, source, ownership, and control of the proceeds of the fraudulent scheme, WRIGHT, HOOPER, and their co-conspirators set up overseas bank accounts, including in Cyprus, Switzerland, and the United Kingdom, in the names of various shell companies.

CHRISTOPHER WRIGHT and STEVEN HOOPER previously pled guilty before U.S. District Judge Jed S. Rakoff, who imposed the sentences. The scheme resulted in significant financial losses for the victims, with over $16 million in fraudulent proceeds laundered through bank accounts in the United States and foreign countries.

The case against CHRISTOPHER WRIGHT and STEVEN HOOPER is a major victory for law enforcement agencies and highlights the importance of protecting vulnerable individuals from these types of scams.

CHRISTOPHER WRIGHT, 52 months in prison, STEVEN HOOPER, 42 months in prison. Defendants’ scheme resulted in over $16 million in losses for victims.

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