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While some of the posters on this site are mounting a campaign against selling clocked cars, I believe that selling clocked shares and houses is a far bigger crime, not to belittle the wrong associated with selling or dealing in clocked cars, and the actual clocking of cars.
The reality is that legions of smartly dressed and smooth talking people are doing the same and have been doing the same with shares and houses over the last decade. The positive forecasts continued even when interest rates continued to rise.
Events seem to indicate that forecasts for incomes, for certain assets such as Stock's and property will decline, and will not be in line with forecasts made by people who purport to have a skill in such matters, having regard to their position, and their likely breath of knowledge of the market and business affairs of such stocks.
The Theft and Fraud Offences Act 2001
Making gain or causing loss by deception.
6.—(1) A person who dishonestly, with the intention of making a gain for himself or herself or another, or of causing loss to another, by any deception induces another to do or refrain from doing an act is guilty of an offence.
(2) A person guilty of an offence under this section is liable on conviction on indictment to a fine or imprisonment for a term not exceeding 5 years or both.
This piece of legislation would seem to leave anyone who was re-numerated by commissions, or indeed any firm re-numerated by commissions, some what endangered by making statements that might induce people to buy or sell certain assets, if they could be shown by their actions, not to believe their own advice.
I am wondering If there are any directors out there who sold shares or who's associates sold shares, and mindful of the 2001 Act will , decide against issuing a profit forecast. If the out-turn of profits did not accord with the profit forecast, they would be in an invidious position if they had sold shares.
I am wondering if there are any auctioneers out there who talked up the market and sold property themselves or on behalf of clients.
Are there people out there, in their offices, listening intently for the wail of the police's sirens, while they hide under their desks, in fear of a reckoning under this law?
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