- Associated Press - Tuesday, August 30, 2016

BUFFALO, N.Y. (AP) - A British man who pleaded guilty to his role in operating a Spain-based “boiler room” operation that conned about 250 investors out of nearly $3 million is heading to prison.

WKBW-TV reports (https://bit.ly/2c4IIx6 ) 52-year-old Martin Rhys-Jones of the United Kingdom was sentenced Monday in Buffalo to six years behind bars and ordered to pay nearly $2.9 million in restitution.

Prosecutors say Rhys-Jones and Arnold Wrobel, a former Buffalo resident, oversaw a boiler room in Barcelona that bilked investors by getting them to buy nearly worthless shares of restricted stock at inflated prices.

Officials say some of the proceeds from the criminal operation were funneled through a bank account in western New York.

Wrobel was convicted in December and is awaiting sentencing.

Rhys-Jones’ daughter is engaged to Real Madrid soccer star Gareth Bale.

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Information from: WKBW-TV, https://www.wkbw.com


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