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Five sentenced over £2.8m investment fraud

Jeannine Lewis, 50, was Nascimento's personal assistant and helped him launder the proceeds of the fraud through various bank accounts including her own and she was jailed for two-and-a-half years.

Finally Ryan Parker, 25, fronted two of the boiler rooms for Nascimento and his personal bank accounts were used as a conduit for some of the money and he was given a two-year sentence, suspended for 18 months.

Sandhu, Edwards and Rea were also made subject to Serious Crime Prevention Orders, and are prohibited from involvement in financial services or the sale of any form of investment for a period of five years after release from prison.

Sandhu, Rea, Edwards and Parker are also banned from being company directors for periods of between seven and 14 years.

The shares were sold through five different companies: Morgan Forbes (UK) Ltd, First Capital Wealth Ltd, Bishops of Mayfair Ltd, Wallberg Dillion Reid Ltd and Sterling Capital Corporation Ltd.

damian.fantato@ft.com