Boiler Room Scams

This is a discussion on Boiler Room Scams within the Educational Resources forums, part of the Commercial category; I think it would be useful to set up a thread listing all the Boiler Room Scams that are currently ...

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Old Mar 10, 2005, 11:17am   #1
 
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Boiler Room Scams

I think it would be useful to set up a thread listing all the Boiler Room Scams that are currently in operation.

What is a boiler room?

Basically, a room full of salesmen (con men really), who are unregulated, and will cold call you to try and tempt you to part with your money and invest in some "amazing" company which will make you a millionaire. The stocks are usually unlisted and therefore difficult to sell once you have bought them. In reality they are likely to be worthless.

They tend to target people who already own shares, and will get your phone number / contact details from lists that they have bought, including shareholder lists.

More often than not, they are based overseas.

Whatever, you should NEVER deal with them, and NEVER deal with anyone who cold calls you from a company who you have never dealt with before.

I hope that this thread will be used for people to list the names of the offending companies, in order to warn others.

To start with, here is a list of those already mentioned on other threads....

Portland Ventures

Elliott Price

Edward Tate

Capital Asset Commodities

Jefferson Holt Consulting

Please feel free to add any more.....
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Last edited by Sharky; Jul 1, 2005 at 4:02pm. Reason: Post edited for legal reasons
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Old Mar 10, 2005, 11:25am   #2
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There is a movie called 'Boiler Room' that shows the goings on in that type of game.

here is a link to the review
;http://www.imdb.com/title/tt0181984/
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Old Mar 10, 2005, 11:45am   #3
 
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Good thread, Airthrey.


You might want to add Jefferson Holt Consulting to the above list.

Also, to let these con-men know that we are wise to their scams, we should perhaps ask pertinent questions, such as:

Are you regulated by the FSA ? ( if so, whats your reg-number )
Are the shares you are selling me restricted in any way ? ( eg; Reg-144 (I think) )
Can I sell these shares at anytime (through another broker) ?
Are you based in the UK ?

Any others?
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Old Mar 10, 2005, 12:48pm   #4
 
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Quote:
Originally Posted by trendie
Good thread, Airthrey.


You might want to add Jefferson Holt Consulting to the above list.

Also, to let these con-men know that we are wise to their scams, we should perhaps ask pertinent questions, such as:

Are you regulated by the FSA ? ( if so, whats your reg-number )
Are the shares you are selling me restricted in any way ? ( eg; Reg-144 (I think) )
Can I sell these shares at anytime (through another broker) ?
Are you based in the UK ?

Any others?
Jefferson Holt now added!
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Old Mar 10, 2005, 1:43pm   #5
 
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This link may be useful in checking people out.

http://directory.google.com/Top/Soci...ce/Regulators/
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Old Mar 10, 2005, 5:31pm   #6
 
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Airthrey Capital started this thread List of unauthorised overseas firms operating in the UK (as supplied by the FSA).....

Ainsley Consulting SL (now known as Mercier International Group)

Alexander Rothko Associates*

Amherst International

Anderson Fitzpatrick (Switzerland) AG

Argus Global Equities Limited

B A Gelman

Bagnestone

BenjaminFisher SL

Berkley Murray Securities

Berkshire Tax Consultants

Black & White Investments

Boska Settlement Corporation

Bradley Chen & Associates

Braun & Bridgewater Corporation (aka BBGC Corporation)

Breakthrough Venture Partners

Breslan Aliied Limited

Cambridge Global Inc

Capital One Management Inc

Carlton Birtal Advisory Services SL

Carter James SL

Chamberlin Management Inc

Chapman Foster Group SL

Chicago Board of Acquisitions Inc

* Clarington Group (The)

Clarkson Gordon Ltd

Clifton Financial Services

Cohen Edwards Asset Management

Collins Tate & Murchison

Condor Research

Crandale Group

Creston & Childs

Douglas St James

Dunhill Capital

E1 Asset Management

Edward Tate

Elliot Price & Associates

Equity Research Group

Eurotraders

Everest 1 Inc.

Fairchild Roth Financial Inc

Fernvale Associates

Fielding Clifford

First Chartered Capital Corp / First Colonial Trust

First International Equity & Acquisitions Inc

Franklin Asset Management (aka Jefferson Management)

Fraser Hunt Levine

Fridman, Koch and Saul (aka Cambridge Global and Amhers International)

Globeshare

Godwynn International

Goldberg Kravitz (now known as Union Partners SL)

Goodman Management Associates

GS Anguilla

Harrington Advisory Services/Harrington Advisory,SL

Hamilton Asset Management

Handel Ross Advisory

Hannover Markka Capital

Hargill & Black Associates

Harper Mills and Paige Inc

Harrop, Lees, Brown & Co

Henderson Young

Hoffman Philips SL

Hopkins, Pierce & Co Limited

Hyda Florsbanc

International Business Advisors

International Options Trading (PTY) Ltd*

ITB Group

Jackson Cole Investments

Jacob Stern

Jefferson Management (aka Franklin Asset Management)

K P Allen

Kammer, Stuartt Reed

Kerona Trading Ltd

Kline Management Group

Kobe Securities International

Liberty Assets inc

Liberty First Financial Services

Liberty One Advisors LLC*

Livingstone Asset Management

Lombard Grand Inc

Lox International Group

Market Access Group

Maxwell Fleming & Associates

McKenzie Goldstein & Associates*

McKenzie King Ltd

Mercantilebanc Securities Inc

Mercier Interantional Group (aka Ainsley Consulting SL) / Mercier asset Management Inc

Millennium Financial Ltd

Miller Bosses Acquisitions INC.

Morgan Young Financial Consultants

Morrison Cross Financial Investments Ltd

Nationwide Mergers and Acquisitions

Network Capital Partners

Nivo Invest and Trade Corp

Norwich Capital Mutual Funds Limited

Oceanic Equities

Pacific Federal SA

Pan European Investment Management

Pan Pacific Financial

Parker Lane

Parker Rowe

Perlman-Haas Associates

Phoenix Asset Management SA

Phoenix Partners SL

Platinum Asset Management (pty) Ltd

Platinum Placements Management

Premier Equities Limited

Premium Placement

Price Stone

Prime Forestry

Reichman Advisory SL

Rementon & Fitzgerald

Richard Watson Associates

Richmond International

Richmond Royce Advisory Services S.L.U.

RJL International Limited

Royal Asset Management of Canada

Schoefer Davis Limited

Smith Fairchild

SpencerFerguson Financial Services/SpencerFerguson Wealth Management

Stanfield Moritz Associates

Stanley Riebeck Corporation

Stein Banc Commerce

Sukumo Group

Tana Corum Holdings

Thibault Capital Markets

Thompson Weinberg

Tresaderns & Partners SL

Trident Market Advisors

Trillium Drake

Union Partners SL (formerly Goldberg Kravitz SL)

US Capital FX*

Van der Halen Equities

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Wakeford & Goodridge

Walker Stone

Waterhouse Scott Ltd

Webster, Cohen & Galombik Inc

West Shore Ventures Limited

Willmont Financial SL

Windsor Asset Management

World Market Resources

World Trade Financial Corporation

Yee Seng Global
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Old Mar 14, 2005, 12:20pm   #7
 
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need information

I need to contact Hargill Black & Associates. Do you have any idea of where could I find their phone number and address.

Best regards,
Mike
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Old Mar 14, 2005, 3:52pm   #8
 
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Following the general 'thread' of the above I have been approached by Jefferson Holt and told of a report on a particular company in America - Galaxy Minerals. There is a minimum investment and there is a limited response time to sign up. If anyone can give me more feedback on Jefferson Holt Consulting and as to whether there is a chance of it being a decent proposal or just a con.

I also found a link to FSA showing a list of known unregulated overseas firms targeting UK investors: - http://www.fsa.gov.uk/pages/Doing/Re.../overseas.shtm
- but they weren't on it.

If anyone can answer Trendie's questions to their validity it would be appreciated.
Thanks
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