By Caroline Binham

May 6 (Bloomberg) — Seven people were arrested across
London and south-east England on suspicion of operating a share
scam that defrauded victims out of as much as 28 million
pounds ($42 million), Britain’s financial regulator said today.

Six men and one woman were taken into custody after an
international probe of a “boiler room” operation, the
Financial Services Authority said today in a statement.
Officials from Malta and other European nations collaborated to
arrest the suspects in the counties of Surrey, West Sussex and
Hertfordshire, England, and in London, the FSA said.