Boiler Room Scams

[yaphoo]

It can take a little while, the stock i had, and this is going back a while, was essm and biop, bought from Hudson international i guess around 6 years ago.
As i say, it can take a while, these people do a lot of things apart from just lift restrictions, call them too if needs be, but this isnt a 5 minute job!

Newly we contacted an Broker who are specialized in restricted shares matter and they send us forms to file but when i pointed out that ixsv shares should restricted under rule 144-k, they notify us that we have to wait tow years to trade the shares! That means for us until October 2007!!

But i think , as u mentioned before . until that time passes the shares will lose their value!

Is there a hope that they grow up and the shares win more value or it's impossible!!

What can we do against that?!

 

[yaphoo]

Further to my initial posting at the start of the month re "Which?" warning and request for victims to get in touch. The latest issue of the magazine (December) has almost a full page featuring a fellow "of a certain age" (like me) who is prepared to explain how he lost 5k investing in "Regulation S" shares (These are junk (?) shares that are too risky to be sold in the USA but can be pushed to foreigners like us. They are explained in more detail elsewhere on this site.)

Harry

Have you a link for the mentioned magazine above?

 

[looker1]

Newly we contacted an Broker who are specialized in restricted shares matter and they send us forms to file but when i pointed out that ixsv shares should restricted under rule 144-k, they notify us that we have to wait tow years to trade the shares! That means for us until October 2007!!

But i think , as u mentioned before . until that time passes the shares will lose their value!

Is there a hope that they grow up and the shares win more value or it's impossible!!

What can we do against that?!

There is a remote possibility they will increase in value, although dont bank on it, it doesnt happen often on these pump and dumps. one way to try and hedge loss is to try and find a broker who is prepared to let you short the stock, i dont know any myself, but i have heard stories of it being done, even on companies this small. the other option is to buy more as the price comes down, but make sure you buy them from the open market, not a boiler room! that way you have some free trading and can average down.
Both of these suggestions involve potentially throwing good money after bad, so think very carefully before doing them.
It might be worth contacting the company direct to lift the restriction citeing that you have been missold the shares in the first place, you never know!
Good luck.

 

[harryhound]

Have you a link for the mentioned magazine above?

A quick google will give you this:

Welcome to Which?Which? offers selections from its various magazines; some content only accessible to registered subscribers.
www.which.co.uk/ - 15k - Cached - Similar pages

Unfortunately it is by subscription and costs about 8GBP in the UK per month. It has a powerful voice in UK Government circles BUT for these international scams we need an international policeman.

As a non member you could put "scam" into the "Which? " web site and get the headline details of hundreds of different rip-offs. Some are childish, but if they did not still work, the fraudsters would not still be using them.

Kind regards,

"Harryhound"

 

[thaji78]

I'm also struggling with IXSV

Have you a link for the mentioned magazine above?

Hi,

I am also struggling with IXSV restricted shares. I also have it dated 21 October 2005. The certificate was issued by a "Florida Atlantic Stock Transfer, Inc.", I don't know if it's relevant here, but the transfer agent seems legitimate.
I was browsing the Internet for ways to trade my restricted shares and I came across
http://www.regulation-s.net/
I did not try them and of course I do not endorse them, but I have spoken a while back with its founder (I think) who claims he knows a thing or two about Regulation-S and the fraudulent activities that come with it. He claims that its possible to register the restricted shares with his company for a nominal fee of course so it can be traded with non-US persons and once the two year period is over, they would act as my broker to get the restriction lifted.
I didn't try his services, but thought you may be interested.
Please tell me of any progress with your shares.

 

[looker1]

The reg s site mentioned looks like a nice idea, however, this has some of the traits of a scam itself, no data on the site as you can see below, and no contact us page on the site that offers a physical address, In the top right hand box on the first page there also seems to be rather too much boilr room slang, call me a pessimist, but i would approach these guys with extreme caution.
Good luck.

Whois Result for regulation-s.net @ whois.godaddy.com
Registrant
Name Jodat Management Company, S.A.
Domain
Name REGULATION-S.NET
NameServer NS5.SANDIASAZULES.COM
NameServer NS3.SANDIASAZULES.COM
Status clientRenewProhibited
Registrar
Name GoDaddy.com, Inc.
HomePage http://www.godaddy.com

 

[awcx]

Vitol/Intenex

They got me for 250K and they are definitely scam artists of the highest calaber. As part of their scam they even impersonated US feds regulatory officals. I sent the info to the FBI and that may be the reason they shut down Intenx web site last week. I have tried every Police/bank for action but have had no success as the fraud was conducted off shore.

This also will be of interest to Bob 350. post #361.
I have copied an email responding to a complaint I lodged with ASIC here in Aus. covering some of my efforts my efforts to gain some redress against these people -- not that I anticipate any satifactory outcome financially as I regard any further expense ( such as legal costs ) as good money after bad, however there may be a grain of solace in that at least the officials at ASIC are proactive and presumably in this case very timely. I have also attached a very interesting out print which also now shows up on GOOGLE when you type in Vitol.


Our Reference: 46385/06

5 December 2006

Dear Mr Clarke

VITOL CAPITAL MANAGEMENT and THE NEW YORK PETROLEUM OPTION EXCHANGE

Thank you for your correspondence of 5 December 2006.

The issues raised by you have been referred to ASIC's Enforcement Directorate for further consideration.


ASIC refers you to our media release 06-408, dated 23 November 2006, in relation to cold calling entities, York Commodities, Vitol Capital and HPR Commodities regarding recent action taken in respect of these entities:


http://www.asic.gov.au/asic/ASIC_PU...ds+and+warns+potential+investors?opendocument

In relation to your request regarding the retrieval of funds, ASIC does not provide legal advice; therefore you will need to seek your own independent legal advice in relation to this matter.

Yours sincerely,

Elisabeth Saunders
National Assessment & Action

NOTICE

 

[thaji78]

I found another website which claims to deal with Reg-S, this one has a physical address found on:
http://www.shbcapital.com/contact/default.aspx

Do you think this one is more reliable?

I found a couple of websites that seem similar to the first reg s website I found:
http://www.regulation-s.com/index.php

and

http://www.regulationsweb.com/display.asp?linkid=15

does this mean that they are fake? or just trying to maximise their client base?

The reg s site mentioned looks like a nice idea, however, this has some of the traits of a scam itself, no data on the site as you can see below, and no contact us page on the site that offers a physical address, In the top right hand box on the first page there also seems to be rather too much boilr room slang, call me a pessimist, but i would approach these guys with extreme caution.
Good luck.

Whois Result for regulation-s.net @ whois.godaddy.com
Registrant
Name Jodat Management Company, S.A.
Domain
Name REGULATION-S.NET
NameServer NS5.SANDIASAZULES.COM
NameServer NS3.SANDIASAZULES.COM
Status clientRenewProhibited
Registrar
Name GoDaddy.com, Inc.
HomePage http://www.godaddy.com

 

[looker1]

All of these look a little suspicious to be honest, one page in particular on one of them,
http://www.regulation-s.com/legal/important.php
says about agreeing on the terms and conditions and pressing a button below that doesnt exsist!,
another page, http://www.regulationsweb.com/display.asp?linkid=27 talks about filling in a form that isnt there,
As with all these things, you get what you pay for, cheap websites are commonplace in the business, boiler room scams are usually run by low life morons, spelling and gammer is a problem, they are driven by greed, and limited to what they can supply.
My suggestion would be to go to the sec website, look for rule 144 and progress from there as oppossed to just typing regulation s in google, if you start from a known website, you stand a better chance of finding a reasonable company, if you want to check any site for how old it is, who owns it and so on, use this link
http://www.melbourneit.com.au/cc/whois/index

It is a very useful page and is free.
Good luck.

I found another website which claims to deal with Reg-S, this one has a physical address found on:
http://www.shbcapital.com/contact/default.aspx

Do you think this one is more reliable?

I found a couple of websites that seem similar to the first reg s website I found:
http://www.regulation-s.com/index.php

and

http://www.regulationsweb.com/display.asp?linkid=15

does this mean that they are fake? or just trying to maximise their client base?

 

[didier_flaender]

can you give the name of the trades companies that are currently promoting and selling shares from inflo interactive inc

 

[thaji78]

Thanks for your reply Looker1, I went to the SEC website and read through it. I couldn't find any recommendation of a rule144 or reg-S broker, but I did find information which I have seen before.

http://www.sec.gov/investor/pubs/rule144.htm
They say that in order to remove the legend I need the consent of the issuer which can be obtained through their counsel, they also advise that since removal of the legend is a complex procedure I should seek assistance from a securities lawyer.
I assume there are legitamate brokerage firms out there who are familiar with the process. Do you know any of these firms that I can approach? I will carry out my own search, but any information about a tried and tested firm that actually delivers what they promise is highly apprecaited.

All of these look a little suspicious to be honest, one page in particular on one of them,
http://www.regulation-s.com/legal/important.php
says about agreeing on the terms and conditions and pressing a button below that doesnt exsist!,
another page, http://www.regulationsweb.com/display.asp?linkid=27 talks about filling in a form that isnt there,
As with all these things, you get what you pay for, cheap websites are commonplace in the business, boiler room scams are usually run by low life morons, spelling and gammer is a problem, they are driven by greed, and limited to what they can supply.
My suggestion would be to go to the sec website, look for rule 144 and progress from there as oppossed to just typing regulation s in google, if you start from a known website, you stand a better chance of finding a reasonable company, if you want to check any site for how old it is, who owns it and so on, use this link
http://www.melbourneit.com.au/cc/whois/index

It is a very useful page and is free.
Good luck.

 

[anley]

What happened to my post saying 'well done Looker'?

Anyway, well done Looker, I had not looked at the sites in question but have now done so and you're right

Regulation-s.com and Regulationsweb.com are 100% scam.

Regulation-s.net.net is also scam (just putting those sites in Bold to give them a little bit more Google juice)

One massive clue (no it's not the contact info but that itself is a major clue) as to why the 2 sites are scams -

I've just spent the last 5 mins writing the main reason why the 2 sites are obvious scams but have now decided to delete what I wrote because I know the scammers read these websites and I don't want them to up their game by letting them know how I know.

But scammers I'll give you a clue it's got everything to do with ******** (8 letters and no it's not 'Internet') and that word is impossible for you to get before you have to shut down your nasty scams.

******** was what forced you to close down your fake regulators OFFCO and IOFCC wasn't it?

So scammers, the games not up we all know that - there are many people out there ripe for the picking but many of your potential clients are wising up and with the help of the internet and websites like this MANY MILLIONS that could have been yours AREN'T

Scammers, myself and others are RIGHT ON YOUR CASE. As soon as you put Uup a fake website we'll spot it, write about it and as this website gets good Google placement the truth is going to be top 5 Google when someone searches on that company's name - So the chances of your stealing yet more money will have been lost

PS. If anyone wants to know what ******** is then PM me but sorry you better have a reputation on this thread otherwise you just might be a scammer

PPS. The date is now 21st December. So how long do we give the sites before they're pulled from the net? I'd say their shelf life is a maximum 1 month, we'll see because I'm not going anywhere :cheesy:

 

[anley]

FYI everyone

GISBex or (note the grand name) Global Internet Stock Brokerage Exchange is also a scam.

Read this for more details.

http://www.sdreader.com/php/cityshow.php?id=C031705

Therefore, by default the following companies that seem to be 'partners' of the 'Exchange' will also be swindlers -

Bedfordshire Securities
Desktop Brokers
Evalesco Trading
Moneyline Brokers
Morgan Maguire I.S.
My International Broker
Successio Brokers

You've been warned.....

 

[looker1]

Hi thaji78

The best plan of action I would suggest to give you the best peice of mind is as follows.
Firstly seek advice from a lawyer local to yourself, ask them to recommend someone who specialises in US securities law, its likely that they may not know someone off the top of there head, but being the way lawers are, they will be able to find someone who is legal, that they are aware of, and that they are prepared to recommend, at least this way, although perhaps a little more time consuming, your lawer then takes responsibility for finding a specialist for you, and, he should be able to find you someone who is local to you that you can go and meet, (although i must add that just because you meet someone doesnt guarentee you success!)
This way though, at least you can converse locally with someone, if you are in Dubai, I am almost certain there will be US qualified lawyers there, and your own lawyer will know of some.
Good luck!

Thanks for your reply Looker1, I went to the SEC website and read through it. I couldn't find any recommendation of a rule144 or reg-S broker, but I did find information which I have seen before.

http://www.sec.gov/investor/pubs/rule144.htm
They say that in order to remove the legend I need the consent of the issuer which can be obtained through their counsel, they also advise that since removal of the legend is a complex procedure I should seek assistance from a securities lawyer.
I assume there are legitamate brokerage firms out there who are familiar with the process. Do you know any of these firms that I can approach? I will carry out my own search, but any information about a tried and tested firm that actually delivers what they promise is highly apprecaited.

 

[Aquarius]

Another Scam

Adding to the list of Boiler room scams- IGG shares being sold through Global Administrative Providers. These are restricted stock registered in Belize. Now being offered $8 per share by Nelson Financial in Houston with an upfront payment of 48c to remove the restriction. They purport to act for a hostile bidder whose stated aim is to liquidate the company and pay nothing to the shareholders. This sounds like serious fraud to me. How can they pay $8 to get 51% of the shares, then pay nothing to the remaining shareholders. Sounds like a class action looming. Anyone else been approached on this. Keen to swop notes.

 

[kenmajor]

Oxbridge/ATS

Hi,
I am investigating ATS using a Florida agency. Oxbridge has now moved to Antigua and I was annoyed that I was not informed.However in response to my emails I have been elected a new "advisor" who is checking out ATS Specialists UK. My original advisor had been telling me rubbish "best deal since during my 30 years with Oxbridge" and not informing me about the peculiarities regarding the certificates.And he (Paul Adams) has left the company but my new guy (Ryan Coleman) seems to have his feet on the ground. Both companies are very young. I think Oxbridge is 7 years and ATS 2 - 3 years. I also understand ATS is no longer a Corporate company.
Generally I do not think this is a boiler scam since Oxbridge could have cut and run months ago, more like high risk.
Assuming you are UK based please give me a call on 020 8366 7168, I do have another acquaintainance telephoning me, and this has been very useful.
Regards,
ken

Like you, I am also an ATS Specialists share holder - still not sure whether I am in a scam or on to a good thing.

Been with Oxbridge for a year now, and they seem to operate professionally.

Have checked out ATS Specialists best I can as well; some of the companies they list as their clients do in turn name ATS as their representative/partner and the "big names" joins their Advisory Board also have a history one can find on the web.

Anyone have any solid proof one way or another?

 

[looker1]

Hi folks,

Not wishing to put too much of a spanner in the works here, but one way to suss out a boiler room very quickly is to insist they sell a part of an investment and send some money back to you, they will invairably give you endless reasons not to, and may even point blank refuse, the only reason I say this is you mention the name paul adams, i was scammed by someone of that name a few years ago, also, you quote there someone saying "my 30 years at oxbridge" and then state that they have only been around 7 years? (unless of course i am reading this wrong?).

Hi,
I am investigating ATS using a Florida agency. Oxbridge has now moved to Antigua and I was annoyed that I was not informed.However in response to my emails I have been elected a new "advisor" who is checking out ATS Specialists UK. My original advisor had been telling me rubbish "best deal since during my 30 years with Oxbridge" and not informing me about the peculiarities regarding the certificates.And he (Paul Adams) has left the company but my new guy (Ryan Coleman) seems to have his feet on the ground. Both companies are very young. I think Oxbridge is 7 years and ATS 2 - 3 years. I also understand ATS is no longer a Corporate company.
Generally I do not think this is a boiler scam since Oxbridge could have cut and run months ago, more like high risk.
Assuming you are UK based please give me a call on 020 8366 7168, I do have another acquaintainance telephoning me, and this has been very useful.
Regards,
ken

 

[anley]

Ken

The fact that you're being led around proves that Oxbridge and whoever are crooks.

Chances are you're being setup for a long term scam, easier for example to scam those who have already been scammed than those who haven't etc.

Why not do as Looker says and sell some of your shareholding and see what happens.

Good luck anyway.

 

[harryhound]

Are These Scams Getting Worse ?

I have just had the seasonal newsletter from Redmayne Bentley (OK stockbrokers in Leeds)
warning about Boiler Rooms; especially featuring a simple technique of getting clients to trade bigger and beigger amounts before stinging them.

I've just banked my Veridian take-over cheque. There is a warning on the back that I'm likely to be phoned by scammers claiming they are authorised to help me reinvest it !

HAPPY NEW YEAR

Harry

 

[Splitlink]

CHESTEROAK and DAMRAK

http://www.learnmoney.co.uk/advice/advice-80.html

Might be of interest.

Split