living the dream on the Costa del Sol – but their lavish lifestyles were paid for by the misery of others.

Today, a gang of conmen who fleeced £10m out of hundreds of hard-working families and pensioners by selling them worthless shares, are facing years behind bars.

Led by four gang members from the North East, the tricksters targeted their trusting investors during the two-and-a-half year “boiler room” con – which is when bogus stockbrokers call ordinary private traders to pressure them into buying non-existent shares.

After pocketing millions, the group moved to Spain and splashed out on expensive cars.

But their scam was smashed when they came home to celebrate Christmas and New Year with family following a long and complex probe by undercover detectives.

Mark Brannan, 28, of Arlington Avenue, Kenton, Newcastle; Sam Hamed, 25, of Byland Court, Washington; Dean Hamilton, 26, of Cleeve Court, Washington and Scott Henderson, 31, of Morgan Street, Sunderland, all admitted fraud offences at Harrow Crown Court in London.


Hamed and Henderson pleaded guilty to conspiracy to defraud and conspiracy to money launder and Brannan and Hamilton pleaded guilty to conspiracy to defraud only.

The charges came after a long investigation, codenamed Soundwave.

Raids were carried out on the defendants’ homes in January last year.

Prosecutor Peter Stage said: “The money went into a black hole. Investors were sending money after money after money across.”

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