Boiler Room Scams

[wfs130559]

Hi there,

New to this forum. Have been contacted by so called broker named Eden Brown Group trying to get me to invest in IPO - Giantcode Corporation - apparently coming on market in next couple of weeks @ 4.50 euro per share, expected gain 5 times investment.
Obviously not touching it with a bargepole as it was "cold calling" but wondered if anyone had heard of this one.
Many Thanks

 

[anley]

Eden Brown Group is a known scam operation. Well done for doing some research.

Strangers calling offering easy profits.........

 

[wfs130559]

Eden Brown Group is a known scam operation. Well done for doing some research.

Strangers calling offering easy profits.........

It is strange how perfectly intelligent and reasonable people can throw there money down the preverbial toilet. I have read with interest some of the stories on here, and they just fill me with disbelief :|

 

[tigerbythetail]

I had a nasty experience with Eden Brown. They claimed they were FSA registered, they cold called and pestered and like a fool i finally said yes and before you know it, a demand for payment comes. The FSA confirmed in writing to me that they were not a legitimate operation, but I did get my money back. More because I suspect the scam had a few bits that were legal and with their partners Ridgeback Global Resources, they were planning a bigger money extraction from investors like me. So by pestering, getting phone numbers from the FSA as the money went to a UK bank account, they did pay me back. I suspect that they had put so much into building up Ridgeback Global Resources, they didn't want the bad publicity before they pulled in a few more. Interesting to see that this sure winner is still trading in Frankfurt, even if 50% lower than a couple of months ago.

 

[wfs130559]

I had a nasty experience with Eden Brown. They claimed they were FSA registered, they cold called and pestered and like a fool i finally said yes and before you know it, a demand for payment comes. The FSA confirmed in writing to me that they were not a legitimate operation, but I did get my money back. More because I suspect the scam had a few bits that were legal and with their partners Ridgeback Global Resources, they were planning a bigger money extraction from investors like me. So by pestering, getting phone numbers from the FSA as the money went to a UK bank account, they did pay me back. I suspect that they had put so much into building up Ridgeback Global Resources, they didn't want the bad publicity before they pulled in a few more. Interesting to see that this sure winner is still trading in Frankfurt, even if 50% lower than a couple of months ago.

They used Ridgeback in the spiel to me saying how much money they had made for the "clients" from this investment. I must admit that it gave me great pleasure to hear the woman squirminmg on the other end of the phone when I said that I knew they were peddling nothing more that a scam, until she finall hung up on me.:cheesy:

 

[anley]

They used Ridgeback in the spiel to me saying how much money they had made for the "clients" from this investment. I must admit that it gave me great pleasure to hear the woman squirminmg on the other end of the phone when I said that I knew they were peddling nothing more that a scam, until she finall hung up on me.:cheesy:

Next time don't be so nice, tell them they should be ashamed of themselves as in the cold light of the day the person is nothing but a thief and how dare they call with a bunch of lies trying to steal your money.

 

[bobby8971]

I appreciate that.

 

[Ludger]

I wish I had seen these posts just over a year ago when I made two investments (Tri-Hub and Dana Resources) through 'Alpha Investments' based in Geneva who are now likely 'First Geneva' after doubtless several further name changes.

I did have doubts about the wisdom of my investment descision but they were convincingly persuasive. It's the first time I've fallen for a scam on this scale and feel I conned myself in a Stocholm Syndrome way when I felt they were too painstakingly professional to be scammers. I wanted to believe they were acting and advising me in the interest of mutual
benefit.

I still have all the worthless paperwork including the share certificates which at least look pretty and serve as a testament to my foolishness.

And yes

I've had plenty of phone calls from scamming hopefuls offering me 'investment opportunities' but modesty prevents me from typing my response.:innocent:

 

[erwanseb]

There is a very simple check to be performed, go to the who is website and type the url of the suspected boiler room.

You will got the location of the server, the IP, not all services are free but the reverse IP is.
Ask for the reverse IP and you will get all the websites which have been using the same IP

Using this example,
http://whois.domaintools.com/shaw-capital.com

the IP has used three names, all three boiler rooms, and the server is in Malaysia while the company address is in Korea.
fishercapitalmanagement.com
shaw-capital.com
strathclydeassociates.net

Try the 3 websites and you will quickly understand they are all the same.

You have to know that their names, address, telephone are all fake.
Even a nice looking brochure can be a total fraud.
go to http://www.shaw-capital.com and check contact or download the brochure.
The building on the brochure has nothing to do with the address, this can be easily checked by Google street views or photo. It is a complete scam, all names , photos, locations, telephone numbers are fake.

The names are always chosen so that there are millions of occurrence, Ted Kennedy, Kevin Smith, John Stewart or Michal Miles.
The company names do bear some similarities with existing ones to generate confusion.
They will pressure you to get an immediate answer, which you must never give. A serious company is obliged to give you time to consider.
Check the fsa listing of unauthorized firms
http://www.fsa.gov.uk/pages/Doing/Regulated/Law/Alerts/overseas.shtml
Finally, never ever accept any business from a cold call.
Reputable firms do not use this kind of tactics, simply because it would be a waste of time and money.
I got so many of these calls in SE Asia that I enjoy keeping them on the phone for an hour at least, so that they waste a maximum of time. I finish by asking them if they liked the performance of Vin Diesel in boiler room, some of their tactics are direct quote from the movie.

 

[ArcticPizza]

Hi, I'm new here but was reading your posts regarding boiler rooms.

Here is one I think fits the bill and is doing the rounds currently. Cold callers with a very intense desire that you sign up to their latest offering. I was going to attach their pdf prospectus but it exceeds the limit for the forums at 7.5MB.
Company: Lombard Asset Resources
Product: Rice Farming Land by the acre in Sierra Leone
Price: £1950 per acre including £600 one off cultivation/admin fee

My appologies to anyone if this is a genuine investment opportunity but with the type of overly friendly high pressure type sales pitch I feel it can only be one thing.

All the best

mod note: Members should note that Lombard Asset Resources web-site says that they are not registered by the FSA and that they do not offer investment advice. And that cold calling is banned by FSA rules. Succeeding posts have been edited - barjon

There's a paradox with the phrase 'common sense'.

it should be so simple to use and understand yet the paradox is it isn't.

But let's use it in this example to see what we can find -

1. Cold called with a profit making idea, probably one that promises easy money
2. The deal is to buy land in Sierra Leone

Using common sense number 1 above might be slighly grey to the unsuspecting.

But excuse me, land in Sierra Leone!!!!!

Summar: Learn to use common sense it's the BEST defence against scammers. However, if you don't use it and lose money then who really is to blame?

I used to think it's the scammers but I'm not so sure anymore..........

Just bring up an old post I saw.

I was contacted by these guys to invest, they've classifed the investment as virtual asset/land buying as they are not able to sell the land straight up. At first I was sceptical, but then went to do a background check on them, they are a very new company.
Below are a few checks that I did.

They are a registered company.
The telephone number on the website matches the contact number which they called me with.
The marketing staff's name seems genuine, can be googled, pops up in places like Linkedin with employment status.
Also directors names seems to be attached to the company when searched.
Google map has the building though the labels on the building are too small to see.
I've also asked for terms and conditions which they are willing to post out.
They are not registered as a scamming company, but then again there isnt much details out there for such a new company.

Just wondering if there are any more checks that I can do, or if anyone had dealings with this company.

Thanks in advance.

 

[anley]

Just bring up an old post I saw.

I was contacted by these guys to invest, they've classifed the investment as virtual asset/land buying as they are not able to sell the land straight up. At first I was sceptical, but then went to do a background check on them, they are a very new company.
Below are a few checks that I did.

They are a registered company.
The telephone number on the website matches the contact number which they called me with.
The marketing staff's name seems genuine, can be googled, pops up in places like Linkedin with employment status.
Also directors names seems to be attached to the company when searched.
Google map has the building though the labels on the building are too small to see.
I've also asked for terms and conditions which they are willing to post out.
They are not registered as a scamming company, but then again there isnt much details out there for such a new company.

Just wondering if there are any more checks that I can do, or if anyone had dealings with this company.

Thanks in advance.

Most scam companies aren't registered as scam companies, that's the first thing to realise.

Second, most of these companies are not actually companies they just say they are.

Thirdly, chances are they're not actually running a scam because that is illegal. Instead they're just trying to convince you that any land is worth £10,000 a plot when in reality it's worth £100. If you overpay then it's your problem and you won't have been scammed. Sort of like me selling a can of Coke to you for £50, have you been scammed no, have you overpaid, yes.

Do business with these people at your peril. But if you do fall for the bait and the lies you'll be told then you only have yourself to blame when you realise in the future that you've been sold worthless grassland.

http://www.bbc.co.uk/news/business-12609590

 

[pboyles]

It's just another land banking scam, very common lately. Touch this and you'll lose your money for sure. If you want to buy land then buy it off an estate agent, not some cold calling chav.

Just bring up an old post I saw.

I was contacted by these guys to invest, they've classifed the investment as virtual asset/land buying as they are not able to sell the land straight up. At first I was sceptical, but then went to do a background check on them, they are a very new company.
Below are a few checks that I did.

They are a registered company.
The telephone number on the website matches the contact number which they called me with.
The marketing staff's name seems genuine, can be googled, pops up in places like Linkedin with employment status.
Also directors names seems to be attached to the company when searched.
Google map has the building though the labels on the building are too small to see.
I've also asked for terms and conditions which they are willing to post out.
They are not registered as a scamming company, but then again there isnt much details out there for such a new company.

Just wondering if there are any more checks that I can do, or if anyone had dealings with this company.

Thanks in advance.

 

[anley]

Arctic

Also remember this - who owns the land the company is selling?

Answer - the company

Summary - Are you willing to listen to the company's arguments about why the land is worth so much and if it really is why are they the owners selling it? Chances are you won't be told that they own it, and they're acting as 'agents'. Again, this will probably be true the company will only be an agent for the seller who happens to be another company owned by the owner of the agent company.

I would think you'll be told a pack of lies about it's potential worth and all this will be talk. But in the contract it will make it very clear that there is no guarantee of planning permission ever being granted.

 

[pboyles]

At first I was sceptical, but then went to do a background check on them,

Just wondering if there are any more checks that I can do, or if anyone had dealings with this company.

I just re-read your post, surely you're not serious. Just because they are a registered company and have an office doesnt mean they wont rip you off. This is a land banking scam, according to that BBC article people lose £200 million a year to these sort of cons.

 

[Big Dog1]

I don't think I have ever met a land banking group yet, that is not trying rip people off...In reality if any land your are buying in Europe or the UK, has not got planning consent, forget it ....If they say its under consideration for planning consent then happy days if you are prepared to wait 80 years and then be disappointed. I have seen a couple of companies offering development plots on what was a registered nature reserve !
PBoyles £200m is the tip of the iceberg I believe when the authorities dig a little deeper it could work out to be one of the biggest scams in UK history.
Watch the rats run when the old bill come knocking but then how do you get your money back when they have pissed it up in the seedy bars of Spain.
As far as rice paddocks in Africa goes ... ? Not even the ex pat Africans would touch it !

 

[pboyles]

I don't think I have ever met a land banking group yet, that is not trying rip people off...In reality if any land your are buying in Europe or the UK, has not got planning consent, forget it ....If they say its under consideration for planning consent then happy days if you are prepared to wait 80 years and then be disappointed. I have seen a couple of companies offering development plots on what was a registered nature reserve !
PBoyles £200m is the tip of the iceberg I believe when the authorities dig a little deeper it could work out to be one of the biggest scams in UK history.
Watch the rats run when the old bill come knocking but then how do you get your money back when they have pissed it up in the seedy bars of Spain.
As far as rice paddocks in Africa goes ... ? Not even the ex pat Africans would touch it !

The thought that you are going to outsmart all the professional developers by 'investing' in land based on a cold call is just nonsense, so like you say every land banking scheme will end up being a scam. If the land was worth anything developers would have snapped it up before it even came on the market. Of course when people get offered the 'chance of a lifetime' all they see is the easy money, all wit and common sense seems to disappear overnight, just like scam shares or anything else.

Its one thing to do this in the UK but in Africa or Ukraine, you'd have to wonder at some people's common sense.

 

[JUSTICIA MILITIA]

Brentwood group based in jakarta. (virtual office in japan) also trading under other name/s. Can provide names p/port details of owners.locations and details of inside movements. No fee. My pleasure.

 

[ArcticPizza]

Dear all,

Thanks for all your reply. I have decided to ignore them. I guess going out to buy a PS3 would be more of an investment.

 

[Bennett95]

I wish I had seen these posts just over a year ago when I made two investments (Tri-Hub and Dana Resources) through 'Alpha Investments' based in Geneva who are now likely 'First Geneva' after doubtless several further name changes.

I did have doubts about the wisdom of my investment descision but they were convincingly persuasive. It's the first time I've fallen for a scam on this scale and feel I conned myself in a Stocholm Syndrome way when I felt they were too painstakingly professional to be scammers. I wanted to believe they were acting and advising me in the interest of mutual
benefit.

I still have all the worthless paperwork including the share certificates which at least look pretty and serve as a testament to my foolishness.

And yes

I've had plenty of phone calls from scamming hopefuls offering me 'investment opportunities' but modesty prevents me from typing my response.:innocent:

I bought also these shares, DANA RESOURCES & TRI HUB INTERNATIONAL

but mine were through originally IA Zurich, which then was bought out & transfered to The European Investment Research Association.

they seem to have disappeared, emails bouncing back.

i have recently had a call from a company, asking to purchase my shares for a substantial price but they can not sell them because they have a Restriction on them, REGULATION S, is there an easy way to get this removed do you know?

they have said there are a few people with the same problem & that they have information reg to sort it, he never gave me this information or contact details of the company.....

i am frantically trying to find a way of removing this restriction, if you have any information on this please let me know

 

[pboyles]

You are being set up to be scammed again, this is normal, they will ask you for a fee in advance to derestrict them, when they get it they'll steal it and disappear. If you deal with any cold caller you will just lose more money. Unfortunately your money has been stolen and you'll never see it again, you'd better get used to that fact because in trying to get anything back you will just lose more. The guy who sold you the original shares were criminals, not brokers.

I bought also these shares, DANA RESOURCES & TRI HUB INTERNATIONAL

but mine were through originally IA Zurich, which then was bought out & transfered to The European Investment Research Association.

they seem to have disappeared, emails bouncing back.

i have recently had a call from a company, asking to purchase my shares for a substantial price but they can not sell them because they have a Restriction on them, REGULATION S, is there an easy way to get this removed do you know?

they have said there are a few people with the same problem & that they have information reg to sort it, he never gave me this information or contact details of the company.....

i am frantically trying to find a way of removing this restriction, if you have any information on this please let me know