Bosses of Thai fraud companies charged

Police have said that the British and Australian bosses of two "boiler room" stock trading companies will be charged with violating Thai securities regulations and could face up to five years in jail.

Police named them as Briton Gerald Quinn and Scott Fisher, 34, from Australia, the two managing directors of the raided companies,

Police Colonel Surapol Thongprasert, chief of Thailand’s transnational crime unit, said the 78 salesmen would face a £80 fine or three months in jail.

Because none are known to have a criminal record, he expected them to only be fined.

They included 10 Irishmen and 34 Britons.