Boiler Room Scams

ben5491 said:
Hi all.

Update.

I just got an angry and hostile follow up call from Carlton Church.
I have refused to TT more money to them as advised by forummers here. And hence, have refused to comply their latest instruction to wire funds equivalent to 30% withholding tax. (Carlton Church claimed to have helped me sell the "shares").

The angry call came today from a new chap to say that he has been assigned to look into my case. He threatened to pass the case over to his lawyers when i demanded to know where my money is.

He threw me jargon about shares being held by FDIC (doesnt make sense), couldnt give me a straight answer on what is the tax reference number with IRS etc....

I am not very clued in on how this withholding tax works but sending tax payment to a bank in Jakarta doesnt make sense.

I am going to assume a legal demand letter will come by soon.
what do i do with this legal letter?

Simply ignoring it isnt a long term solution. What do i say to stop this harrassment?
My family is affected cos of the stress.

I have reported to my local police, my bank, FBI, SEC and FCA. Have also reported this to the equivalent FCA in Japan where Carlton Church is alledged to be based. But nothing from these official agencies so far.

My bank has been unable to claw the money back.

I am prepared not to see my money again but simply want this harassment to stop.

Does anyone have a script on what to say (Whistler_man, can u help please) or does anyone have pointers on what to expect next?

Or what should i do?

Many thanks
Click to expand...

I don't have any scripts for what you should say. Only their scripts and rebuttals for your objections.
I agree with Blackwatch, DO NOT SEND ANY MONEY! No matter what they say or what threats they may make, remember, THEY ARE EMPTY THREATS. They are scammers and have zero power. Your original money is unfortunately lost forever.

I'll find the files and send you the rebuttals list anyway.

If something sounds too good to be true, it probably is.
 
Hi Whistler_man,

thanks for the help nonetheless.
On the bright side, with help and advice from all of you, I am actually now more prepared when the next call comes.

really appreciate it.

whistler_man said:
I don't have any scripts for what you should say. Only their scripts and rebuttals for your objections.
I agree with Blackwatch, DO NOT SEND ANY MONEY! No matter what they say or what threats they may make, remember, THEY ARE EMPTY THREATS. They are scammers and have zero power. Your original money is unfortunately lost forever.

I'll find the files and send you the rebuttals list anyway.

If something sounds too good to be true, it probably is.
Click to expand...
 
Dear All

I found this topic way to late... I was hit by the Value Management Asia fraud and payed some money.
Where can I get in contact with some legal officials??
Now I got a follow up call to send money because to be part of the next step, so I have a fresh and active bank account details with me!
can the authorities act that fast to block this?
 
PLAfer said:
Dear All

I found this topic way to late... I was hit by the Value Management Asia fraud and payed some money.
Where can I get in contact with some legal officials??
Now I got a follow up call to send money because to be part of the next step, so I have a fresh and active bank account details with me!
can the authorities act that fast to block this?
Click to expand...



Hi PLAfer,
The next step is ONLY to get more money out you – period
So whatever they say, whatever they promise you
DO NOT PAY THEM A PENNY MORE – IT IS A FRAUD.
Value Management Asia is a Boiler Room
Please contact me at [email protected]
Thank you
 
bhindaas said:
Hi, Has anybody heard about 'armstrongeconomics' or their product Socrates? Is it any good? Its run by Martin Armstrong.

cheers!
Click to expand...

Google is your friend.

https://www.armstrongeconomics.com/

About ... https://www.armstrongeconomics.com/about/

Pic matches that of "Martin A. Armstrong" on Google Images.

... who has his own Wiki page...

https://en.wikipedia.org/wiki/Martin_A._Armstrong

"In 1999, Japanese fraud investigators determined that Armstrong had been collecting money from Japanese investors, improperly "commingling" these funds with funds from other investors, and using the fresh money to cover losses he had incurred while trading.[9] Assisting Armstrong in his scheme was the Republic New York Bank, which produced false account statements to reassure Armstrong's investors. In 2001, the bank agreed to pay US$606 million as restitution for its part in the scandal.[10]

Armstrong was indicted in 1999, and was ordered by judge Richard Owen to turn over a number of gold bars, computers, and antiquities that had been bought with the fund's money; the list included bronze helmets and a bust of Julius Caesar.[11] Armstrong produced some of the items, but claimed the others were not in his possession; this led to several contempt of court charges.[12] Armstrong was jailed for seven years for contempt of court, until judge Owen was removed from the case and Armstrong reached a plea agreement with federal prosecutors.[13] Armstrong pleaded guilty to conspiracy and was sentenced to five years in prison.[14] He was released from Federal custody on September 2, 2011.[15]"

etc. etc.

Of course, this convicted felon claims he's being persecuted and denied his constitutional rights, argle bargle, blah blah. As well, he seems to be some kind of economic doomsaying nutter.

There you go. Plenty of stuff to easily find on Martin Armstrong. Didn't bother to check to absolutely confirm that "ArmstrongEconomics.com" is Martin's but it's highly unlikely they would list a nutbag convicted felon as their front man/CEO/whatever the **** if it's not his, lol.

The "Socrates" product listed ...

https://www.armstrongeconomics.com/socrates/

at the only currently working "investor" level... https://www.armstrongeconomics.com/socrates/investor-level-service-2/

... "To sign up for Socrates, please visit www.ask-socrates.com and enter your e-mail address to request an invitation. Once space is available, you will receive an invitation via e-mail with instructions for creating an account."

rofl. Yah, "once space is available"... like the Ford Ltd. of the '70s... it's "limited" to as many as they can produce, hehe.

On the other hand, it could be good, who knows? Haven't looked in to it that much, but since it's produced by a confirmed bat**** crazy arch-criminal you'd have to be a degenerate gambling maniac to give him a dime, imo.
 
economicfrauds.net

Also, one has to be careful not to fall victim to the likes of www.economicfrauds.net.

They claim to be able to help someone who has been caught is a scam get some or all of their money back....for a fee. But in reality all they do is keep asking for more and more money.

They have a decent looking website that claims they have been online for over five years, yet their registration says only for 2.5 years. They say that if you want to know the legitimacy of a company, it will cost you $499.00 to order a report from them.

How does it cost $499 to find out if a company is a scam or not. All of the companies listed on their site under "Warnings" are already known as scam outfits, some dating back over 10 years.

Be careful of that one.
 
Last edited by a moderator:
I too am such a victim of Bell-Capital Private Wealth managers fraudsters.
Have lost an initial investment of 160kUSD with the kind fraudulent help of Mr Matthew Drummond then Mr Allan Berkshire and finally a Mr Robert Lucas.
It has been going on for more than a year now and even their escrow agents in Malaysia North Ultima Worldwide are involved in the scam.
If these guys are operating from the addresses in Shenzhen and Beijing, which I doubt, the Chinese police are interested.
Please lets get a group together to see if we can tackle this and protect others.
 
safrican said:
I too am such a victim of Bell-Capital Private Wealth managers fraudsters.
Have lost an initial investment of 160kUSD with the kind fraudulent help of Mr Matthew Drummond then Mr Allan Berkshire and finally a Mr Robert Lucas.
It has been going on for more than a year now and even their escrow agents in Malaysia North Ultima Worldwide are involved in the scam.
If these guys are operating from the addresses in Shenzhen and Beijing, which I doubt, the Chinese police are interested.
Please lets get a group together to see if we can tackle this and protect others.
Click to expand...


safrican,

Bell Capital claims to have Registered Office address at 99 Queens Road, Central, Hong Kong address that is of a Business Centre
Same addressed has been used by another known Boiler Room and perhaps others.
Bell Capital Ltd. cannot be found to be a Hong Kong Registered Company
North Ultima WW Corp appears to have an address in Kuala Lumpur, Malaysia and is most probably a Registered Company.
Corbis Global Trading was registered in Mauritius on 26May14, most likely to facilitate the fraudulent activities of Bell Capital.
Maybank in Labuan has been used in the past by a number of Boiler Rooms.
My suggestion is : DO NOT PAY ANY MORE MONEY.
You can contact me at [email protected]
 
Follow Up

ben5491 said:
Hi Tom2048.
Cheers for your frank advice.
You are right......I am indeed a sucker to have fell for it. Shouldn't even have the gall to call myself an "investor".

I am in a terrible state now. Stressed out. Lost.
Besides ignoring the calls and ignoring the 2nd invoice, both pieces of advise which I would heed - am I to expect legal threats, demand letters etc? Do I do anything about those?

The TT money transfer were made to a beneficiary bank in the USA and from the USA bank, to an account holder based there. Can anything be done?

Carlton Church does not have an office in the USA nor UK. Can I still file a report to FBI, SEC?

Can I still file a report to FCA UK, Action Fraud since no transaction occurred in the UK?
Click to expand...

Hi Tom,
I have also been cold called by Carlton Church - what was the end result of your experience?
Did you recover any money?
 
whistler_man said:
Firstly, I'm not proud of what I did before. I was working as a "Senior Portfolio Manager" and then as a "Vice President of Institutional Trading". Also known in the Boiler room business as a "Loader" I got out several years ago and started trying to help people to NOT get ripped off.

Secondly, It is 1000% a SCAM. Your "Portfolio Manager" wrote up your "deal" and said he would pass it on to a "Compliance Officer" He most likely "Buttoned you up" first by getting you to agree to buy the "Shares" and listen to his advice when time to sell and judge him or her on the % profits. For a "long and profitable" relationship. Right? He failed to mention that it will only be profitable for him and his Boiler room buddies.

Getting back to the "recorded" compliance call. I have made many of these calls myself and it usually consists in getting you to say "yes" about 7 times during the call. Confirming your info, yes, yes, yes that is correct. Then agreeing to TT the funds within 3 days. It's never recorded and they may call you if you "Kick" (meaning refusing to pay) and threaten you with legal action. They usually say that the recording is a "digital signature" Like signing a contract. If you get that call, Just tell them that your wife is Korean and she has been to their listed address and they aren't there. See what the little S%$t says to that.

Bottom line, NEVER believe anyone calling you about these investments.
They use scrips that are written to Psychologically convince you to buy. Appealing to your Greed. Two reasons why people fall for these scams. 1 Greed and 2. Fear of loss. Te profits seem fantastic or he only has a few shares left for new clients and they may be gone by the end of the day.

I've got scripts and lists of rebuttals if you want, message me and I'll send them to you so you can tell their MO next time they call.
One of my favorite lines for when someone said that a particular OTC / Pink Sheet stock didn't have any trading volume was "Well, John, I'm looking at a Reuters Level two Blue Screen and I see where Merrill-Lynch just purchased 2 Million shares and the news of this contract is not public information yet. No such thing as a Reuters Level two Blue Screen.

Value Management Asia Inc
Address: Young Poong Building 8F, 33 Seorin-dong Jongro-g Seoul, 110-752 South Korea
Telephone: +822 6022 1202
Fax: +822 6022 1274
Website: valuemgmtinc.com

This is a Serviced office building like Regus. They are not there.
Good luck but tell them to FO!
Click to expand...

Hello Whistler_Man, I would be interested in having some of your rebuttal scripts, I have unfortunately been scammed and am expecting calls soon
 
Galveston Capital Warning

A new boiler room name invented by the same crooks, be warned and stay away from doing any "business" with them, all they do is steal your money.

Galveston Capital

Indonesia Stock Exchange Building
Tower 2 20/F
Jl. Jend. Sudirman Kav. 52-53
Jakarta 12190
Indonesia

Same address as previously used by Crown Capital Management and Westhill Consulting, its fake of course, there is no sign of them, same goes to the names they are using, all lies...

http://galvestoncapital.com, another BS website,

We offer our customers an array of opportunities, ranging from specialized funds to a choice of stocks, selected by our team through a mostly bottom-up approach, yet sensitive to long-term dynamics, which we feel is the most appropriate in the global arena at this juncture.

The only opportunity they are offering is bankruptcy, after they have talked the very last money out of their victims, scum of the earth.....don't believe a word they tell you on the phone, its all crap, no shares are ever traded, they would not even know how to do that.
 
Rebuttals

whistler_man said:
They can be found here:
https://www.buzzfeed.com/mariahsumm...-one-of-wall-s?utm_term=.dbGq49qya#.mknqO2qzn

And here:
John Thomas Financial's "Golden Pitchbook" - Download Now!
http://johnthomasfinancialgoldenpitchbook.blogspot.com/

Copy and paste into Word doc.
Cheers
Click to expand...

I was just thinking about this. Rebuttals are for the "Broker" to use to overcome the objections to finally get you to buy.
There are two reasons that people buy these types of deals:
1) Greed - The profits sound so good that you want this!
2) Fear of Loss - The opportunity is only for a short time or limited shares available.

They teach the "Brokers" that there are two things you can't overcome.
1) NO MONEY. Not liquid.
If a guy doesn't have any money, He can't buy no matter how hard you try.
2) No Greed. No need.
If the guy just isn't greedy, then you will not get him to buy.

So have fun with these guys and just tell them, I have no money.
 
I.S.R.A., International Securities Registration Authority

I.S.R.A., International Securities Registration Authority
Zurich World Trade Centre
The World Trade Center
Leutschenbachstrasse 95,
8050 Zurich
Switzerland
Website www.isra.eu.com
Date Registered May 28, 2015
Date Expires May 28, 2017
Email [email protected]

An investor has been referred to this site by Carlton Church in order to add legitimacy to their fraudulent activities.

I.S.R.A., International Securities Registration Authority ;
Does not exists as a company in Switzerland,
Is not even in the Swiss telephone book,
Is not listed in the International Regulators listed by FINRA
In fact it is just another Fraudulent Organisation run by the Boiler Room Scammers.

I.S.R.A., cannot be located at the given address but guess what, somebody else is ;
Regus Zürich World Trade Center
Leutschenbachstrasse 95, 8050 Zürich
Phone *044 308 35 35

No surprises there. Stay well clear of I.S.R.A. and of course Carlton Church
 
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