A fraudster who was fined more than 1m and declared bankrupt over a separate scam costing investors 3.7m has been approved by City regulators to run a new financial company.
Samuel Nathan Kahn, 49, was fined 1.1m in 2011 by the Financial Services Authority (FSA), the regulator at the time, for inflating a companys share price. He then used a separate firms trading account, without permission, to sell the shares and pocketed more than 200,000 in cash.
Four years earlier, the FSA obtained a court order believed to be the first of its kind to bankrupt Kahn.
This was to use his assets to compensate 800 victims of the 3.7m boiler room fraud he orchestrated through two companies he controlled, at least one
Read the full article at: https://www.thetimes.co.uk/article/bankrupt-fined-1m-but-fit-to-run-finance-firm-dlgsm339v
