Boiler Room Scams

Jneverlands

BLacey said:
THANKS FOR THE INFO

Have you any info on Pharma Holdings inc.
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I bought shares for Pharma Holdings inc from Argus Global. They sold my shares in Echo without my consent and I now hold 3000 shares inPharma holdings I have share certificates, but are they usless? I can't find out. I have been approached by a company called Oceanic Investment Group a John Hardy called me. Apparently I now have 12000 shares and a company wants to buy them for $12.50 ( I paid $5 ) the only thing is I have to pay 98cents per share to have the shares unrestriced. The fax I received was quite elaberate with a page signed by a solicitor. But am I going to send them almost $12000 am I hell. Just have to write this down to experience.
 
Jneverlands

I would like to update you on a new scam which is going on as we speak. I foolishly bought shares in Echo from Argus Global which they then sold and bought shares on Pharma holding (without permission) I have 3000 shares at $5 per share. I have recently been contacted by a John Hardy form Oceanic Investment Group Chicago. They have sent me a contract offering to sell my shares which have now quadrupled to 12000, for $12.50. The only problem is the shares are restricted so I have to send 98 cents per share that almost $12000, oh but it's refundable, to release them then they will send me $150,000.00
How can I stop other people getting conned?

thanks
 
yeesh, that smacks of those Nigerian advance fee frauds that were going on a few years back!
 
Anyone come across Stacy Morland?
He's based in Spain and is trying to sell shares in his web site that lets US citizens play European lotteries.
 
I had a call from a friend last night (honestly) - he sounded fairly distressed and was looking for some advice about some shares he'd 'bought'. It turns out that he'd been called by Argus Global a year or so ago and bought 10,000 of Pharma Holdings @ $5.00. The first thing I asked him was whether he'd ever heard of a boiler room.

Specifically the reason he was calling was because he'd just been contacted by Oceanic Investment Group in Chicago saying they had a buyer at $12.50 and to 'de-restrict' the shares in Pharma, he have to pay 10% - I guess $5000. Now I don't want my friend to lose more money by thinking that he'll make $125,000 if he de-restricts these shares. What advice can I give him (besides reading this particular thread completely) to ensure that he doesn't send more money in the hope that he can get out of this. I'm not sure whether his wife knows about this yet.

Does he own restricted shares or not? He says that he's got a share certificate but I haven't seen it. Could he call any broker who deals in US stock and sell the shares? And what about Rule 144?

My own golden rule - never buy anything unless YOU want to buy it - its your money remember.
 
i've been scamed - my 1st one

yea i've been scammed - hmmm is it one m's or 2

i was scamed out of my time

add this one to the list if its not already on it

Vitolcapital

these guys are professional at what they do
i guess the fact that they can not spell the word vital is a dead give away

the tactics and lengths people like these will go to !!!
this was the first time i received a call like this on my line
and it wasn't even for me but my web designer - how bizarre

"we are approaching all you guys in the UK"
"oil options"
"calling from new york"

they tell you nothing on the first call and ask for nothing

ask to speak to there traders - i did and i got put through to another guy that sounded exactly
the same as the first
what accent is that - "chinese american"
2nd guy- what accent is that - "i'm from phillapines"
the 2nd guy soon put the phone down on me

ask for the # number and call them on skype as you talk to them
i said i would call them back after the call - of course they didn't give enough digits

no contact details on there website
the record disguised
referencing new york and singapore

be careful out there
 
I have spoken to the FSA they told me that they ahve had other calls about Oceanic tell your friend its a scam son't dend any money. I've got share certificate as well but don't know if the shares are worthless or not. Can't get hold of anyone at Pharma holdings to find out.
 
As I have not yet seen this certificate, is there any way to know if it's genuine or not - could it be forged? I don't buy shares so don't know what a real certificate looks like.

What happens if you try to sell your Pharma shares through a reputable broker? If they were genuine there would be a register of shareholders. I said he could use my fax number so at least I'll get a look at the Oceanic contract when it comes through.
 
Ashton Young Associates

Does any one knows this company?.. they rang me the other day, persuading me to buy shares in Apollo Resources (AOOR.OB) . Could not able to get any more details about Ashton Young (never saw their website working) http://www.ashton-young.com)

I did my own investigation to the accounts of the company, and the auditors have a qualified opinion as to whether the company can be classified as going concern.

Just wondering has any one else got similiar calls?

Regards
 
Jneverlands

davybee said:
As I have not yet seen this certificate, is there any way to know if it's genuine or not - could it be forged? I don't buy shares so don't know what a real certificate looks like.

What happens if you try to sell your Pharma shares through a reputable broker? If they were genuine there would be a register of shareholders. I said he could use my fax number so at least I'll get a look at the Oceanic contract when it comes through.
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I have sent an email today to www.SEC.gov they have a reporting system like the FSA I still don't know if Pharma Holdings is a ligit company or not I can't get any info their guy Mark Murray Invester relations is never available and doesn't answer e'mails. It seems a very elaborate scam.
 
I remember reading an earlier posting on this forum about a certain Edward Klapp who is mentioned on the Pharma website regarding some other suspicious activities. I would be inclined to believe that it is not a real company and as you say, is just part of an elaborate scam.

I spoke with my friend last night and he seems OK with the fact that he won't see his money again but hopefully I have convinced him not to send more of his hard earned to this Oceanic crew.
 
DB, your friend is being setup again by the same people that conned him out of the original money, they've just changed their names.

Tell him there's nothing he can do about the already lost money and if he pays ANYTHING ever again to people/companies/brokers that he doesn't do some research on then he really is on his own.

As Arbs rightly says the new scam is nothing more than what they call 'advance fee', ie we can make you a lot of money on this share/lottery/secret bank account but first you'll have to pay some admin fees etc.
 
We've accepted that he's lost the money - I just like to understand what makes someone who seems quite sensible do something this naive/stupid and I know that he needs this money more than most.

If the chap from Oceanic calls again, he should try and cut a deal with him personally. Oceanic-man pays the 'de-restriction' fee and they split the profits of $12.50 a share 50%. Its a deal too good to be true for Oceanic-man - $5000 'investment' for a return of $37,500. Clearly he'd have to be really dumb not to take it. I'd certainly be intrigued to see what he has to say to that 'dream' offer.

I was actually going to offer that my friend gives him my number for further correspondence but then read that these guys call you all hours and didn't fancy being woken up at 3 in the morning.

jneverlands - why don't you try that approach?
 
thats a smart idea.

If they dont accept that sort of offer then there is your concrete proof of scam
 
[email protected]

davybee said:
We've accepted that he's lost the money - I just like to understand what makes someone who seems quite sensible do something this naive/stupid and I know that he needs this money more than most.

If the chap from Oceanic calls again, he should try and cut a deal with him personally. Oceanic-man pays the 'de-restriction' fee and they split the profits of $12.50 a share 50%. Its a deal too good to be true for Oceanic-man - $5000 'investment' for a return of $37,500. Clearly he'd have to be really dumb not to take it. I'd certainly be intrigued to see what he has to say to that 'dream' offer.

I was actually going to offer that my friend gives him my number for further correspondence but then read that these guys call you all hours and didn't fancy being woken up at 3 in the morning.

jneverlands - why don't you try that approach?
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I don't think the shares are genuine. I have tried to contact Pharma Holdings to no avail. I think you have to write this off, and get on with life. I am totally sick about it. I have recently retired so I can't afford to lose this sort of money. But I am trying hard not to get depressed by it. I will just try and stop anyone else from making the same mistakes,
 
Natural greed (that is within all of us) is the reason so many people are scammed. It really is as simple as that.

Remember that the scammers are some of the best 'salesman' and operators in the business, some of them earning millions of pounds a year. This is why it's sometimes so easy for sensible and clever people to fall into their sophisticated traps.

But if you only ever deal with FSA registered firms that ARE based in the UK and you make sure you always call them using the switchboard number that you'll find under their listing on the FSA's website then you'll be safe.
 
rub1 said:
Here's a list of foreign companies known to be telephoning people, offering the oportunity to trade in Futures & Options:

Hartford Management Group: .grouphartford.com

Pioneer Commodities LLC: pioneer-commodities.com

Trade XL Ltd: .tradexl.net

Vitol Capital Ltd: .vitolcapital.com

Note: I am not recommending any of the above companies.
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Then why are you giving links to these guys. Means more traffic for them even out
of curiousity.
 
because if any punter does his homework and searches for these names on google, they will also find this page titled "Scams"

Highly unlikely that anyone visiting these sites from this page will be stupid enough to invest with them, and if they do then they really are too stupid to deserve having any money at all
 
Has anyone dealt with Oxbridge in Nevis. They are currently dealing an IPO called ATS Specialists at $5.
Must be a bargain or is it
 
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