Boiler Room Scams
- Thread starter Airthrey Capital
- Start date
- Watchers 788
Hi Greedie,
As Anley points out, crock of crap my friend! I am about to go out at the moment, but I will post tonight some more technical data on the companies you mention, and even if they do sell for you and send you your money back, DO NOT RE-INVEST with them! lately these companies are getting wiser by sending some back to catch the bigger fish, It's all part of the ruse! Will post again a bit later.
As Anley points out, crock of crap my friend! I am about to go out at the moment, but I will post tonight some more technical data on the companies you mention, and even if they do sell for you and send you your money back, DO NOT RE-INVEST with them! lately these companies are getting wiser by sending some back to catch the bigger fish, It's all part of the ruse! Will post again a bit later.
Sorry, but it's for your own (wallet's) good. Just learn from all of this and for starters NEVER do business with any financial firm that cold calls you. Also, if you're new to the business only have financial dealings with big brand name companies located AND regulated in your own country.
Ok, As promised greedie, apologies for the lateness, been a bit busy, still,
This comment on there site, on the "legal" page.
The regulations also impose new requirements regarding client information and verification of that information. Financial services firms are required to verify the identity of the clients with whom they do business, determine the source of funds in a client's account and obtain the information about a client's wealth. As part of our compliance with the new Act and in support of the fight against money laundering around the world, we may ask clients for additional information and documentation about certain accounts and transactions. This information may be used to verify client identity.
The fact that they fail to mention what this "act" is they speak of is amusing, to say the least!
below is their site details
Registrant
Name Cyberica.Net Limited
Person Cyberica.Net Limited
Email [email protected]
Address Suite 13, Francis Rachel St.
City Victoria
StateProvince Mahe
PostalCode none
Country SC
CountryCode SC
Phone +246.11111111
Domain
Name jsknight.com
CreatedDate June 14, 2005
UpdatedDate May 19, 2007
ExpiresDate June 14, 2008
NameServer NS1.HONGKONG-HOSTING.BIZ
NameServer NS2.HONGKONG-HOSTING.BIZ
Status clientTransferProhibited
AdminContact
Name Cyberica.Net Limited
Person Cyberica.Net Limited
Email [email protected]
Address Suite 13 Francis Rachel St.
City Victoria
StateProvince Mahe
PostalCode none
Country SC
CountryCode SC
Phone +246.11111111
Now the host, http://www.cyberica.net/ is a budget anonymous hosting company, based offshore in the seychelles, with servers in malaysia, hong kong and texas (an odd collection to say the least) and offers a number of anonymous services and payment methods, designed for this kind of industry.
Now Globaltrak does seem to be real "ish", difficult to tell with out the site for it, if you have it, please post.
the shares you have in theory "bought" are most likely reg s, basically restricted for between 1 and 4 years, regardless of what your "broker" tells you. this means you cant sell them.
As another point to the jsknight site, this comment here on the IPO section,
The alternative to an initial public offering (IPO) is a merger with or the acquisition of an already existing publicly traded company. This type of ramp to the public markets, known as a reverse merger, has grown in popularity due to many outstanding benefits. J S Knight has supervised the successful launch of many private companies into the public arena via a reverse merger transaction.
The benefits of a reverse merger include but are not limited to:
Circumvention from the possible failure of a Best Efforts underwriter
Less expensive than an IPO
Less time to the public market than an IPO
Ability to keep more control of the company
Not as complex a transaction as an IPO
What trading exchange should the company target?
Selecting a trading exchange is one of the most important decisions of the going public process because it can have a profound impact on the marketability, liquidity, visibility, and ultimately the value of your company. The overwhelming majority of emerging growth companies have sought the NASDAQ Stock market. This electronic trading floor is one of the most respected in the world due in part to its reliability of execution and high quality profile as
Reverse mergers, basically for the layman, are just a cheap way to get a pink sheet listing, it can be done for a few thousand if you know the right people, and you end up with a cheapo pink sheet, or at best an OTC listing. A real listing is about 2.5 million to do properly, and is actually real, and not a toy stock.
Post some more like the global track site, name of banks and bank details of these pirates, it will help others from making the same mistake, this site spiders well in the search engines, so people can find warnings easier if they look.
regards,
looker1
This comment on there site, on the "legal" page.
The regulations also impose new requirements regarding client information and verification of that information. Financial services firms are required to verify the identity of the clients with whom they do business, determine the source of funds in a client's account and obtain the information about a client's wealth. As part of our compliance with the new Act and in support of the fight against money laundering around the world, we may ask clients for additional information and documentation about certain accounts and transactions. This information may be used to verify client identity.
The fact that they fail to mention what this "act" is they speak of is amusing, to say the least!
below is their site details
Registrant
Name Cyberica.Net Limited
Person Cyberica.Net Limited
Email [email protected]
Address Suite 13, Francis Rachel St.
City Victoria
StateProvince Mahe
PostalCode none
Country SC
CountryCode SC
Phone +246.11111111
Domain
Name jsknight.com
CreatedDate June 14, 2005
UpdatedDate May 19, 2007
ExpiresDate June 14, 2008
NameServer NS1.HONGKONG-HOSTING.BIZ
NameServer NS2.HONGKONG-HOSTING.BIZ
Status clientTransferProhibited
AdminContact
Name Cyberica.Net Limited
Person Cyberica.Net Limited
Email [email protected]
Address Suite 13 Francis Rachel St.
City Victoria
StateProvince Mahe
PostalCode none
Country SC
CountryCode SC
Phone +246.11111111
Now the host, http://www.cyberica.net/ is a budget anonymous hosting company, based offshore in the seychelles, with servers in malaysia, hong kong and texas (an odd collection to say the least) and offers a number of anonymous services and payment methods, designed for this kind of industry.
Now Globaltrak does seem to be real "ish", difficult to tell with out the site for it, if you have it, please post.
the shares you have in theory "bought" are most likely reg s, basically restricted for between 1 and 4 years, regardless of what your "broker" tells you. this means you cant sell them.
As another point to the jsknight site, this comment here on the IPO section,
The alternative to an initial public offering (IPO) is a merger with or the acquisition of an already existing publicly traded company. This type of ramp to the public markets, known as a reverse merger, has grown in popularity due to many outstanding benefits. J S Knight has supervised the successful launch of many private companies into the public arena via a reverse merger transaction.
The benefits of a reverse merger include but are not limited to:
Circumvention from the possible failure of a Best Efforts underwriter
Less expensive than an IPO
Less time to the public market than an IPO
Ability to keep more control of the company
Not as complex a transaction as an IPO
What trading exchange should the company target?
Selecting a trading exchange is one of the most important decisions of the going public process because it can have a profound impact on the marketability, liquidity, visibility, and ultimately the value of your company. The overwhelming majority of emerging growth companies have sought the NASDAQ Stock market. This electronic trading floor is one of the most respected in the world due in part to its reliability of execution and high quality profile as
Reverse mergers, basically for the layman, are just a cheap way to get a pink sheet listing, it can be done for a few thousand if you know the right people, and you end up with a cheapo pink sheet, or at best an OTC listing. A real listing is about 2.5 million to do properly, and is actually real, and not a toy stock.
Post some more like the global track site, name of banks and bank details of these pirates, it will help others from making the same mistake, this site spiders well in the search engines, so people can find warnings easier if they look.
regards,
looker1
Apex
It looks like I've been done too. Their Bill Rochester seemed incredibly believable. Having regularly sent statements showing gains, and one or two small losses, they persuaded me to make a larger investment, which of course I did. They no longer answer their telephones, reply to emails, and the web site has disappeared. I have emailed the fraud-desk below, and am waiting to hear.
It looks like I've been done too. Their Bill Rochester seemed incredibly believable. Having regularly sent statements showing gains, and one or two small losses, they persuaded me to make a larger investment, which of course I did. They no longer answer their telephones, reply to emails, and the web site has disappeared. I have emailed the fraud-desk below, and am waiting to hear.
Did you get anywhere with the police, I have been caught too
J s Knight
Thanks Looker1and anley.
Looker1, thanks for the explanation you sent - however it looks like I am not educated enugh to understand your explation for the lay man and in fact did not quite understand from your explanation why do you think I AM SURE TO LOSE MY MONEY going with them investing in 'floating totaltrack global on the NASDAQ' - you said they have done supervised such operatin successfully before. Are you saying that the shares are not really sellable and therefore there is no way a mutual fund (or anyone else) is really going to buy them?
Or another way to phrase the question: Is there any way I will be making some money from this launce or other? Has anyone ever done?
www.totaltrakglobal.com is the web site for TotalTrack.
Thanks for your help.
Greedie.
Thanks Looker1and anley.
Looker1, thanks for the explanation you sent - however it looks like I am not educated enugh to understand your explation for the lay man and in fact did not quite understand from your explanation why do you think I AM SURE TO LOSE MY MONEY going with them investing in 'floating totaltrack global on the NASDAQ' - you said they have done supervised such operatin successfully before. Are you saying that the shares are not really sellable and therefore there is no way a mutual fund (or anyone else) is really going to buy them?
Or another way to phrase the question: Is there any way I will be making some money from this launce or other? Has anyone ever done?
www.totaltrakglobal.com is the web site for TotalTrack.
Thanks for your help.
Greedie.
Can I trust vFinance to sell my shares?
Hi All,
I am currently about to sign a couple of forms with vFinance to enable them to sell my shares which I received a couple of years ago. These shares are for IXSV which was discussed earlier on this post.
My concern now is whether I can trust vFinance with my shares? Any thoughts?
http://www.vfinance.com/
Regards,
thaji78
Hi All,
I am currently about to sign a couple of forms with vFinance to enable them to sell my shares which I received a couple of years ago. These shares are for IXSV which was discussed earlier on this post.
My concern now is whether I can trust vFinance with my shares? Any thoughts?
http://www.vfinance.com/
Regards,
thaji78
Hoggums
Senior member
- Messages
- 2,176
- Likes
- 878
Looker speaks the truth - it is likely you have lost most if not all of your money.
I refer you to the following page..
http://www.fsa.gov.uk/pages/Doing/Regulated/Law/pdf/knight_5sep06.pdf
and this...
http://boards.fool.co.uk/Message.asp?mid=10539705&sort=whole
and in the guardian...
Money: Capital letters: Tony Levene fights for your consumer rights: Don't be taken in by Logical Investor scam
Tony Levene
[some text]
If you respond, you will end up getting high-pressure sales calls from JS Knight, a boiler room operation which works out of a postbox in St George's, Grenada, for which The Logical Investor acts as a "softener".
The shares it will try to sell you will be ones you have never heard of and which are impossible to sell. When Capital Letters first exposed JS Knight six months ago, the Financial Services Authority added it to its boiler room warning list of unauthorised offshore share pushers.
We seem to have a bit of an issue with jurisdiction. Although the city of london police are investigating this type of operation, they don't seem to want to investigate individual cases as they say the crime was not committed on their patch. I have sent details to them, but it seems that their remit is to warn people rather than track down the offenders. They recommend reporting to your local police and to Hong Kong, where my money was sent. I have sent emails to to the fraud office in Hong Kong and to their securities commission. I'll wait and see. I'm currently about £60k out of pocket and feeling a bit stupid. But as you say they were very convincing. Did anyone else deal with 'Bill Rochester' Did everyone send money for the Credit of Standard Holdings HK Ltd.
Has anyone had any joy out of reporting to local police in the UK
Has anyone had any joy out of reporting to local police in the UK
Hi Guys, a busy board today!
Ok, Totaltrak, first of all, the data supplied both on this site and JSKnight show when the site ws registered, how long for and who by. If these people and companies were real, they would leave real details in the admin section, not some spurious and suspect hosting company, nor a free one like yahoo, nor would it only be registered fo only a year or two at most.
Registrant
Name TOTALtrak Inc.
Address 550 N. Reo St.
Address Tampa
Address 33609
Address FL
Address UNITED STATES
Domain
Name totaltrakglobal.com
CreatedDate 2006-11-29
UpdatedDate 2006-11-29
ExpiresDate 2007-11-29
NameServer ns1.uglhosting.com
NameServer ns2.uglhosting.com
Status ok
AdminContact
Name TOTALtrak Inc.
Address 550 N. Reo St.
Address Tampa
Address 33609
Address FL
Address UNITED STATES
Email [email protected]
Phone +1.8134956928
TechContact
Name YahooDomains TechContact
Address 701 First Ave.
Address Sunnyvale
Address 94089
Address CA
Address UNITED STATES
Email [email protected]
Phone +1.6198813096
Also, if you think about it, mutual funds dont get invloved in the purchase nor funding of non-listed, or "about to be listed" companies, they generally make up there fund of low risk securities, real estate, precious metals and so on, things that have track record, have proven performance based on fundement, not pie in the sky useless barcode devices, which if were any good, a major hardware provider would be behind, or at least a major software company would be behind. I have lost a lot of money to a**holes like this, it has scam written all over it, I suspect Anley too has lost money to these kinds of pirates in the past too, No story that sounds good enough to send money down the fone to will make you a profit, if it did, I would be a billionaire!
Now, thaji78, below is the detail on vfinance;
Registrant
Name Vfinance Holdings, Inc.
Address 3010 N. Military Trail Suite 300
City Boca Raton
StateProvince FL
PostalCode 33431
Country US
CountryCode US
Domain
Name VFINANCE.COM
ExpiresDate 08-Feb-2008
CreatedDate 09-Feb-1998
DatabaseUpdatedDate 13-Jun-2007 18:34:04 EDT
NameServer NS1.VFINANCE.COM
NameServer NS2.VFINANCE.COM
NameServerAddress 66.155.207.168
NameServerAddress 63.174.228.117
Status clientTransferProhibited
AdminContact
Name Lipson, Elliot
Email [email protected]
Address vFinance, Inc.
Address 3010 N. Military Trail
Address Suite 300
City Boca Raton
StateProvince FL
PostalCode 33433
Country US
CountryCode US
Phone 561-981-1018
As you can see, a lot more detail, and a 10 year registration of the domain, however, what price are they saying they can get for your shares, below is the actual trading of
IXSV -- Intersecurity Holdings Corp.
Com ($0.0001)
Primary Venue: Pink Sheets
Best Bid: 1.35 (500 shares) (this is the most per share someone will pay open market for 500 shares max)
Best Ask: 2.60 (500 shares) * (this is what everyone who owns is trying to sell for)
Date/Time of Last Inside Change: Wed Jun 13 07:45:38 EDT 2007
* Quoted on the Pink Sheets
Want real-time level two quotes in this security?
TRADE DATA Last Sale: 2.60
Change: -0.00
Percent Change: -0.000004
Daily High: 0.00 Daily Low: 0.00
Opening Price: 0.00 Volume: 0
Annual High: 5.10
Annual Low: 1.45
Dividend: 0.00 Earnings/Share: N/A
Previous Close: 2.60 P/E ratio: N/A
Yield: 0.00
Beta Coefficient: 1.020
The bit where it says about bid and ask is scary, basically it means no one wants it. if vfinance tell you they have a buyer for 5000 share at 10 bucks or something like that, avoid like the plague, it is a well set up scam. vfinance purport themselves mainly as a venture capital company, not brokers. The domain stands up yes, but the stock you own doesnt (unless you own 100 shares that you paid a buck a peice for)
Ok, Totaltrak, first of all, the data supplied both on this site and JSKnight show when the site ws registered, how long for and who by. If these people and companies were real, they would leave real details in the admin section, not some spurious and suspect hosting company, nor a free one like yahoo, nor would it only be registered fo only a year or two at most.
Registrant
Name TOTALtrak Inc.
Address 550 N. Reo St.
Address Tampa
Address 33609
Address FL
Address UNITED STATES
Domain
Name totaltrakglobal.com
CreatedDate 2006-11-29
UpdatedDate 2006-11-29
ExpiresDate 2007-11-29
NameServer ns1.uglhosting.com
NameServer ns2.uglhosting.com
Status ok
AdminContact
Name TOTALtrak Inc.
Address 550 N. Reo St.
Address Tampa
Address 33609
Address FL
Address UNITED STATES
Email [email protected]
Phone +1.8134956928
TechContact
Name YahooDomains TechContact
Address 701 First Ave.
Address Sunnyvale
Address 94089
Address CA
Address UNITED STATES
Email [email protected]
Phone +1.6198813096
Also, if you think about it, mutual funds dont get invloved in the purchase nor funding of non-listed, or "about to be listed" companies, they generally make up there fund of low risk securities, real estate, precious metals and so on, things that have track record, have proven performance based on fundement, not pie in the sky useless barcode devices, which if were any good, a major hardware provider would be behind, or at least a major software company would be behind. I have lost a lot of money to a**holes like this, it has scam written all over it, I suspect Anley too has lost money to these kinds of pirates in the past too, No story that sounds good enough to send money down the fone to will make you a profit, if it did, I would be a billionaire!
Now, thaji78, below is the detail on vfinance;
Registrant
Name Vfinance Holdings, Inc.
Address 3010 N. Military Trail Suite 300
City Boca Raton
StateProvince FL
PostalCode 33431
Country US
CountryCode US
Domain
Name VFINANCE.COM
ExpiresDate 08-Feb-2008
CreatedDate 09-Feb-1998
DatabaseUpdatedDate 13-Jun-2007 18:34:04 EDT
NameServer NS1.VFINANCE.COM
NameServer NS2.VFINANCE.COM
NameServerAddress 66.155.207.168
NameServerAddress 63.174.228.117
Status clientTransferProhibited
AdminContact
Name Lipson, Elliot
Email [email protected]
Address vFinance, Inc.
Address 3010 N. Military Trail
Address Suite 300
City Boca Raton
StateProvince FL
PostalCode 33433
Country US
CountryCode US
Phone 561-981-1018
As you can see, a lot more detail, and a 10 year registration of the domain, however, what price are they saying they can get for your shares, below is the actual trading of
IXSV -- Intersecurity Holdings Corp.
Com ($0.0001)
Primary Venue: Pink Sheets
Best Bid: 1.35 (500 shares) (this is the most per share someone will pay open market for 500 shares max)
Best Ask: 2.60 (500 shares) * (this is what everyone who owns is trying to sell for)
Date/Time of Last Inside Change: Wed Jun 13 07:45:38 EDT 2007
* Quoted on the Pink Sheets
Want real-time level two quotes in this security?
TRADE DATA Last Sale: 2.60
Change: -0.00
Percent Change: -0.000004
Daily High: 0.00 Daily Low: 0.00
Opening Price: 0.00 Volume: 0
Annual High: 5.10
Annual Low: 1.45
Dividend: 0.00 Earnings/Share: N/A
Previous Close: 2.60 P/E ratio: N/A
Yield: 0.00
Beta Coefficient: 1.020
The bit where it says about bid and ask is scary, basically it means no one wants it. if vfinance tell you they have a buyer for 5000 share at 10 bucks or something like that, avoid like the plague, it is a well set up scam. vfinance purport themselves mainly as a venture capital company, not brokers. The domain stands up yes, but the stock you own doesnt (unless you own 100 shares that you paid a buck a peice for)
Apologies if the last post was a bit long, In direct answer to your question Greedie, No, that boat aint floating, and even if it does, it will end up being a virtually untradable pinksheet, or at best a "no volume" OTC listing.
As for vfinance, venture capital=risk, and lots of it!
As for vfinance, venture capital=risk, and lots of it!
Where are they located, how did they contact you (cold call etc?).
But the ultimate test will be 'are they going to ask for any money off you BEFORE they sell the shares'.
Perhaps they'll say the money is to buy an insurance policy (which is then returned) after the shares are sold. Basically some crap to steal your money.
Watch out.
Hi Anley,
It seems I called the guy a long time back because when he called me he had a copy of my certificate! He said I do not need to pay any money before they actually sell them!
They are located in New York city with apparently branches in Florida and other US cities. They have a physical address listed on their website.
Did anyone hear about vfinance before?
Regards,
thaji78
It seems I called the guy a long time back because when he called me he had a copy of my certificate! He said I do not need to pay any money before they actually sell them!
They are located in New York city with apparently branches in Florida and other US cities. They have a physical address listed on their website.
Did anyone hear about vfinance before?
Regards,
thaji78
Can you sell these shares with any other broker? If not then how can this company sell them etc?
I'm not saying that they aren't a legit firm but there are many stories of people who've bought Reg S shares (who cannot sell them) being conned by brokerage companies saying they can, for a fee of course.
Ultimately it's a minefield out there so be very very cautious of who you're dealing with. Also, are they regulated and if so by whom? If they are regulated get a registration number from them and then call up the Regulator yourself to check the firm out.
As for an address, yep they do post them but the Florida ones all look like mail drops. When you see the word 'suite' and then usually a large number like 271 it's indicative of a maildrop like Mailboxes Etc.
Hi all.
As Anley pointed out, the up front fee, if it does appear down the road is a classice baiter from the fraud people. and the florida addresses i would agree are maildrop addresses. Thaji78, how many shares are you holding (approx, we dont need to know exactly, ie, is it more than a couple of thousand?) if it is, and vfinance claim they can sell, it is a scam, the bid and ask on my previous post explains that, basically, when a stock has (500 shares) next to the bid and ask, that is the maximum the market can possibly support, any more, and the price will plummet if you are selling, because there are no buyers. vfinance cannot "create buyers" 1. its illegal 2. it doesnt happen in the real world with pink sheets that look to be a scam in the first place. Approach a broker local to you that can trade internationally, preferably one you can go and visit, see what they say compared to vfinance.
As Anley pointed out, the up front fee, if it does appear down the road is a classice baiter from the fraud people. and the florida addresses i would agree are maildrop addresses. Thaji78, how many shares are you holding (approx, we dont need to know exactly, ie, is it more than a couple of thousand?) if it is, and vfinance claim they can sell, it is a scam, the bid and ask on my previous post explains that, basically, when a stock has (500 shares) next to the bid and ask, that is the maximum the market can possibly support, any more, and the price will plummet if you are selling, because there are no buyers. vfinance cannot "create buyers" 1. its illegal 2. it doesnt happen in the real world with pink sheets that look to be a scam in the first place. Approach a broker local to you that can trade internationally, preferably one you can go and visit, see what they say compared to vfinance.
Hi Looker1 & Anley,
Well, so far there are no upfront fees, the founder of the company is a Tim Mahoney who the agent says is a US Senator (forgot which state!). The agent (Chris) said that selling the shares (well above 100k shares) will take some time as the batches will have to be spread out over time... They do have a physical address at least in New York, they have what appears to be quite afew offices across the US:
http://www.vfinance.com/home.asp?ToolPage=ab_contact.asp&ab=full
I understand your point about pink sheet stocks having close to no demand, I even asked Chris how he plans to sell them to which he replied that it will take some time and there are people out there who will buy them!!!!! This made me wonder if these people actually know what they're buying and if it is actually ethical of me to sell these shares which I myself think are shady! Unfortunately, I do not know of any brokerage firm in Dubai which can help me with these shares
When you say it may be a scam and given that they haven't asked me for any fees, does this mean they will sell the shares and keep the money for themselves?
Many thanks,
thaji78
Well, so far there are no upfront fees, the founder of the company is a Tim Mahoney who the agent says is a US Senator (forgot which state!). The agent (Chris) said that selling the shares (well above 100k shares) will take some time as the batches will have to be spread out over time... They do have a physical address at least in New York, they have what appears to be quite afew offices across the US:
http://www.vfinance.com/home.asp?ToolPage=ab_contact.asp&ab=full
I understand your point about pink sheet stocks having close to no demand, I even asked Chris how he plans to sell them to which he replied that it will take some time and there are people out there who will buy them!!!!! This made me wonder if these people actually know what they're buying and if it is actually ethical of me to sell these shares which I myself think are shady! Unfortunately, I do not know of any brokerage firm in Dubai which can help me with these shares
When you say it may be a scam and given that they haven't asked me for any fees, does this mean they will sell the shares and keep the money for themselves?
Many thanks,
thaji78
