British investors duped out of millions of dollars

Authorities in Florida today said a father and daughter duped thousands of British citizens into making $70m (€44.8m) in bogus investments.

Paul Robert Gunter and Zibiah Joy Gunter were arrested by federal agents today.

They are charged with multiple counts of money laundering and mail, wire and securities fraud.

Investigators say the pair sold worthless shares of more than 50 dormant, publicly traded companies. British authorities estimate 15,000 mostly elderly citizens were victims of the scheme.

Authorities say 58-year-old Paul Gunter and his 25-year-old daughter began the scam in early 2005.

Records did not indicate whether either one has a lawyer.