Boiler Room Scams

Following my earlier posting, it looks almost certain ZRG Holdings is a scam.
One of the names being used by this scammer is 'Chris Roberts'.
Their phone number is 1+404 592 5106 and the address they use is 44 Broad Street Suite 410, Atlanta Georgia. This is almost certainly just a serviced office.

These guys seem rather fishy, indeed. This address is like smack in the middle of Georgia State University Campus, check it out:
http://maps.google.com/maps?f=q&hl=...84.390023&spn=0.001557,0.002511&t=h&z=19&om=1

Also the address/name for the phone number is unlisted:
http://www.whitepages.com/search/ReversePhone?full_phone=404+592+5106&localtime=survey

Not very common for serious businesses to hide who they are, where they are and what they do. I would steer clear.
 
Holy Crap!

That's a lot of scammers! No surprise though.

Andy
EFX Group
 
Thanks for the reply. Shame nothing can be done to stop these guys because I'm sure they have some poor soul on the hook. One more piece of information. When I asked, I was told the ZRG stands for Zimmermann, Rosenthal and Grossman. Not to be confused with Zurich Research Group, which, I believe, IS a proper company, and is putting out warnings about people such as these on their website. Good for them.
 
ZRG Holdings / BNN

Hi, these ZRG guys also start out calling themselves BNN (Blackstone, Nelson Newhouse) the front man is Chris Roberts, then if you keep going get to a guy called Eric Bentley who states he's from ZRG Holdings. Essentially they cold call and talk about poor performing stocks you might have that some guy wants to buy to decrease his tax problem, ask you to send $ to an escrow account, and then someone else comes back and says oh you have warrants attached to those shares so you will get more $. However, you need to pay for those first so you must send x $. All very fishy, and these two are very smooth. They operate out of an address in Hong Kong, which if you google you can't find. Although, this BNN does get a favourable reply from USIDO (United States Investment Service) which doesn't really mean much. The more you dig into these two the dodgier it gets...so avoid at all costs would be my advice.
 
Can anyone tell me why these scammers seem to have no trouble setting up and running bank accounts in Hong Kong. HSBC, Standard Chartered etc, those are all big banks and you would think that the regulation is in place to stop this type of thing.

To me Hong Kong is a cess pit of banking.

PS. Love the name 'Blackstone, Nelson, Newhouse' such a give away for a boiler room.
 
bankers secrets

Well I guess they first established a big city regstd. address then just paid in £/$1 with their reference letter, utility bill, photo ID etc! Then its off to Geneva to establish some credibility in a more relaxed regulatory environment. For instance I've been contacted today by Sterling Manhattan (who also appear to have a NYC address too) regarding IPO's.....what else?!

Their cold call earlier today was from a very well spoken lady who appeared to be working from her home, judging from the background noise....she also claimed to working from home to be with her 2 kids. The IPO she was promoting is GIE Technology, a Canadian company that uses laser technology to monitor structural movement mainly in bridges.

The story that the SM lady related was that......post the recent Minneapolis expressway bridge collapse, the U.S Govt. has placed $60Bn in bonds.....yes I think I heard her right?!....for bridge maintenance/safety checks throughout the U.S. GIE Tech could have a large share of that work? Well, the price right now (apparently grey market) is $20 later to be declared at $33 for the IPO launch, due 28 Nov 2007 and then......wait for it!....set to reach $80 all within 1 year!.....wow! I wish I had been blessed with such unblinking foresight!

I guess all private investors should have a sign above their desk.....or kitchen table!? even tatooed across their chest....."assumption is the mother of all f..k ups"....like an American colonel during the Vietnam war. Perhaps the U.S president back then should have too!

GIE Technology has a website....www.gietech.com...I've also emailed them for interim/final account details. Has anyone else out there been phoned/cold called by Sterling Manhattan? SM also have a website promoting, re-assuringly, investment classics such as Ben Graham's `Intelligent Investor'. Anyone out there with an intrinsic valuation for GieTech?! IPO could perhaps be tagged as; `Is Probably Overpriced'.
Regards BS
http://journals.aol.co.uk/spcdesign/BargainIssue
 
'Sterling Manhattan' the name gives the scam away dosn't it.

Been around since 1971 so their website says but somebody only bought the domain in August 2007, strange that :)

INVEST ANYONE AND YOUR MONEY WILL BE STOLEN FROM YOU........
 
Also I love this quote on their site -

"We are most grateful for the sound advice you have given us over the years and we look forward to navigating through this next milestone with your help…"
Lord H, London

Lord H! Most testimonials are made up but that one takes the biscuit
 
easyjet to easystreet

Also I love this quote on their site -

"We are most grateful for the sound advice you have given us over the years and we look forward to navigating through this next milestone with your help…"
Lord H, London

Lord H! Most testimonials are made up but that one takes the biscuit

It could just be Lord L (Lucan) under a pseudonym (H -Hiding).

By Thameslink to Geneva (via Luton Airport) I still have that 1970's hit record by Lorraine Chase running in my head! Sitting in the departure lounge there mulling over/dreaming of setting up my own instant investment bank. There could be one or two hiccups along the way.......despite leaving the longest Champagne bar in Europe (at St Pancras International) to the established `city slickers'! before disappearing into King Cross Thameslink with my Oyster card..... could that be a name for my new bank....Oyster Securities....might just be patented already by Mayor Ken & Tfl?

So here's my business plan......In a free market economy a correlation exists between risk and reward. However....in a typical IPO an inverse relationship exists between the risk assumed by various service providers including private investor punters....who will have been well and truly `serviced'!....and the price they receive.

The investment bankers e.g Sterling Manhattan, make the most and they assume practically no risk. The lawyers earn the second highest income, and they assume relatively little risk. Next the printers are paid and they have virtually no risk at all. And then there's the accountants perhaps the lowest income earners in the group, yet they're the most exposed (along with private investors) liabilitywise, if something goes wrong.

While accountants and private investors suffer in all of the downside risk if a particular IPO does not go through, as do also investment bankers and lawyers, they share none of the upside reward in a successful IPO. Accountants audits and private investor punters (of course!) are considered `commodities' by investment bankers....perhaps cannon fodder could be a more apt description. This leaves SM to collect all the consumer surplus......Yippeeee!

So roll up....roll up!.... to my new address at Rue Du Rhone 14, 1207 (lucky to find the next door post office box untaken) located conveniently in a city housing dept, 14 storey tower block, central heating plant room (.....did I say boiler??!) with my Reliant Robin 3 wheeler hire car neatly parked outside (Swatch is not my style)
in true Swiss fashion. Goldhawk Securities (not to be confused with the London underground station) is going to be the name on the plant room door just below `Max Headroom 2m'.

Now I guess that just leaves the website to set up, using....www.rentacoder.com...and I'll fax t...p://journals.aol.co.uk/spcdesign/BargainIssue
 
Bishopsgate Capital

Has anyone been cold called by this company of stockbrokers based in London.
They called me out of the blue, they have FSA recognition but cannot hold client money.
Sent me a glosssy dossier.
Next day got called about a stock which was going to move v fast.
At this stage I asked the guy to stop it there and told him that I thought he was a boiler room operative.
Boy, this brought the best of his voice and he starteed shouting and then the call was abruptly terminated.

Good riddance....thank God as repeated calls were getting on my nerves.
 
Got a call from 'Tony Devonshire' from the classic boiler room style name 'European Investment Group' the other day. Touting something called 'Falklands Oil & Gas'.

FSA warning about these scammers so watch out.
 
Yep, didn't think authorised firms were allowed to cold-mail.

Anyway the fact that they are and are promoting some IPO probably means it's pretty crappy.

Stay well clear everyone is my advice.

PS. Just Googled them and the FSA says they're not allowed to hold client money, doesn't give a good impression does it.
 
sterling manhattan

is this really a scam. b/c streling manhattan contacted me as well.i actually invested in GIE technologies {first timer}. can somebody do comment on this. will be waiting.:confused: :mad:
 
Paul Taylor

In case there are any others still looking for Paul Taylor of Linsure, you will probably find he has recently disappeared and so has all reference to Linsure. Their website has been 'under reconstruction' for weeks and you won't get a reply from any of their so-called offices. I've been looking at the website for Operation Archway set up by the City of London Police and would like to encourage others who have been scammed by Linsure to view the site and send details to them. I'm sure they won't act on individual cases but maybe they would act if they can see the extent of this scam. The people involved left a fairly good trail and maybe Operation Archway would be interested enough to take action to stop them if they can get enough information from the people whose lives have been ruined by these thieves.

Paul Taylor, If i am not mistaken, is mentioned in other parts of this site. Last seen in Sitges Barcelona. Was involved in the Millenium Financial scam with Rodd Marr and Rodney Shayne. Millenium was going on around 2001, Taylor moved on to his own deal apparently after, this must have been linsure. A number of financial authorities are after him. I have not personally been scammed by them, but have seen numerous reports of people that have.
 
is this really a scam. b/c streling manhattan contacted me as well.i actually invested in GIE technologies {first timer}. can somebody do comment on this. will be waiting.:confused: :mad:

Well, I really don't wish to spoil the start of your week, but all the indications are that the Gietech IPO is a scam. As you may already be aware, GIE Environment Technologies Ltd (Gietech) is currently quoted on the Toronto Stock Exchange (www.tsx.com) on their Venture Exchange (CDNX-TSX). Last trade (30 Nov); C$ 0.03. This is a very thinly traded stock on low volumes. Average volume is 1600. Total number of shares outstanding is 19,958,333 (net of escrow; 11,070,333). Market value; Canadian$267,758,000 That would place GIE on price/sales; 0.57 (earnings are negative!) please refer to published information below;-

Symbol: GIE

Exchange(s): TSX Venture Exchange
Industry: Transportation and Environmental Services (Environmental)
ANNUAL FINANCIALS
Sep 30, 2006
12 Months
C$ Sep 30, 2005
12 Months
C$
Total Revenue ($000): 462 727
Earnings before Interest & Tax ($000): -456 -390
Profit/Loss ($000): -497 -403
Earnings per Share: -0.03 -0.02
Total Assets ($000): 87 519
Dividends Per Share 0.00 0.00
Return on Com. Equity: N/A N/A
Employees: N/A N/

Sterling Manhattan's sales pitch to me was, essentially, to buy at $20.00 for listing at $30.00 to reach $80.00 after one year (by the very well spoken lady looking after her 2 kids working from home). What is Gietech intrinsic value?....we are not informed by TSX listing data, of company liabilities, so clearly not even a net book value is available, therefore c/w negative earnings, intrinsic value could easily be zilch!

I cannot so far, find any more information to verify the SM claim that they are set to win the bidding for the U.S. Minneapolis bridge disaster reconstruction (their business mainly appears to be bridge monitoring), or any other business from the U.S Govt. To try and sum up on an optimistic note, the Gietech website is interesting and it looks like a business for the future....but very early days.....what price did you pay?!
Regards BS
 
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sterling manhattan

well i already paid $5070( i.e £2000 something). i tried finding the listing on nasdaq, otcbb, pink sheets. but the site did not have a single entry nor information not even a corp news onthis company. i am thinking abt complaing to FSA do you think that will be a help or do you think my money is gone forever. and yes even i spoke to a lady( wat name did she tell you?) i also spoke a to a man.do you by chance knw the symbol to get a quote for this company. i also did a little check on this candaian company i think since 2002 it belong some guy name robert rosner he had 67% share of this company it has an SEC filing. but no records after that. the company does have complete profile if search the companie name in canadian company search.

i am begning to regret it really. do keep posting i want to get to the bottom of this. i paid $0.25 a share.
 
Innocent, sorry but you've been scammed and there's very little you can do to get any of your money back.

Beware in the future for the double-scam, ie the same people will call you sometime over the next year with an offer to buy your shares at a big profit to you. But they'll want some sort of 'bond' upfront and this money will be stolen as well.

The only thing you can do is to send all your information to Operation Archway in London and hope that they might be able to help - http://www.cityoflondon.police.uk/CityPolice/ECD/Fraud/boilerroom.htm
 
Ron Jones

Hi Folks,
Whilst I dont know a lot about cambridge capital, I have met a "Ron Jones" who is in this business, met him a few years ago on the costa del sol, well known to adnan koshoggi (famous arms dealer and perported to be behind BCCI many years ago) Jerome, (his family name escapes me, but well known promoter of spantel shares) and frank palombo/calombo (unsure of spelling) These 4 characters were well known on the Marbella circuit in spain, often seen throwing huge amounts of money around, (presumably other peoples). Now as far as i am aware, jerome was arrested and extradited about 18 months ago to germany for fraud charges, has been seen in passing in southern spain, Frank has an enditement apparently from the US, adnan, No idea, But Ron, last known to relocate to the phillippines around september last year. Of course, there are many ron joneses around i'm sure, but this guy could often be heard telling what would appear to be rookie sales staff in bars "what we do is legal, Hell, I even use my own name!" If your ron that called you had a very smooth american accent, it could be him, In general, the haunts for these sales staff years ago, were places like "franks Corner" and the "havana" bar in Marbella, costa del sol. I havent been there now for a few years, but i would think these types still hang out in the same places, and if it is anything like the late 90's, you won't have to sit long before you hear boiler room style conversation. At the time I was there, it sounded very odd to hear, but knowing what i now know a few years on, after losing a fair amount of money to these f******, it makes me wonder if its worth a trip down there all these years later.
Happy hunting Rowntree, the australians found John Keely in Bangkok (brinton group and others) maybe you'll be lucky.

Hi looker1
If one refers to the various posts on VITOL CAPITAL MANAGEMENT late last year and into ths year one would note my ( bitter) experience, along with so many others ,of this particularly "successful" scam operation.
The reason for this reply is that during my experience in this scam I was in contact with the very "smooth " American accent of a Mr. Ron Jones who I would venture to suggest was the Ron Jones of your experience.He only came into the picture when I was in the process of attempting to withdraw funds from the quite professionally presented INTENX A/C I had ( on paper ).
I have moved on having given it my best shot to try to participate in any distribution from either the Funds frozen here in Australia by ASIC or the funds "available" through the judgement of the US Federal Court (Refer Attachment/s ).

I had a 'phone call back in Sept 07 from a Nathan Plonar (CFTC ) advising that whilst I was correct in my assesment that Non US Residents were able to claim against the judgement CFTC were not able to distribute any funds as they were unable to track down any individuals involved as they were operating out of Hong Kong & the Philipines and that they quote : " Too smart " and that jurisdictional difficulties determined that there was no hope of any satisfactory outcome.

This obviously, will come as no surprise to you from what i can assume is your experince and contacts in these matters.
But then again maybe there is a possible opening for an enterprising Bounty Hunter acting for the CFTC ??
 

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well i already paid $5070( i.e £2000 something). i tried finding the listing on nasdaq, otcbb, pink sheets. but the site did not have a single entry nor information not even a corp news onthis company. i am thinking abt complaing to FSA do you think that will be a help or do you think my money is gone forever. and yes even i spoke to a lady( wat name did she tell you?) i also spoke a to a man.do you by chance knw the symbol to get a quote for this company. i also did a little check on this candaian company i think since 2002 it belong some guy name robert rosner he had 67% share of this company it has an SEC filing. but no records after that. the company does have complete profile if search the companie name in canadian company search.

i am begning to regret it really. do keep posting i want to get to the bottom of this. i paid $0.25 a share.

You can find some additional details about Gietech on this link:-

StockHouse.com : G.I.E ENVIRONMENT TECH LTD - GIE

There is also another Gietech website: GIE Environment Ltd. - Homepage, which has downloadable pdf income statement and balance sheet financial details from (most recent) 2003; as well as more details on the company business and including their (current?!) client base. I hope this helps.
Regards BS
 
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