Boiler Room Scams

[wildbilly]

Are you in the UK? If so the Home Office guide lines to Police recording crime are as I understand 'If a person feels they are a victim of a crime, then it must be recorded as a crime with in 72 hours of the initial report to Police unless there is evidence to prove otherwise' In the past it has been different. The person I am involved with bought some carbon credits initially that we have since found are worthless, then it appears his details have been sold around the world and he has been contacted from all over. The further deals are I believe fraudulant.

Anyone heard of Owngold?

 

[pboyles]

One thing I need to know is how u got a police report on your scam,I have not only NOT got a police report but have been unable to contact any police force anywhere in the country who knows of my crime including fraud org who actually took the details, what u guys need to understand is that NO ONE cares except the victims,I'll take a bet with anyone that the police will have NO success with any boiler rooms in the near futureand if they do it will certainly not be yours.

Did you report it to the police? If not why would you expect them to have a record of it? If you'd stop this crazy nonsense about demanding boiler room scammers be executed for treason then maybe people would take you seriously.

 

[pboyles]

I have already told the police that I will take it to the home secretary and quite frankly they don't give a toss,I thk they have the opinion that if ur scammed ur a mug and further we have no chance of getting ANY freedom of information from them,I have tried from all sorts of bodies and the old get out is operations cannot be disclosed.to add insult to injury I find they have no record of the crime in any police force even though fsa and fraud org has collated the crimes.all you have to do is see the itv fraud programme and watch the total incompetence.they never would have got abrue or khan if someone hadn't given them the info and further it tool 2 yrs to investigate while citizens of the uk were being scammed as they investigated!!!! Buffoons come to mind.

Well you were a mug so stop blaming everyone else.

 

[jblonde]

I've had lots of calls selling carbon credits,...carbon credits are fictional,made up storys by treatys invoving various countries,they have NO VALUE at all..all the boiler room scammers are selling these..there are no buyers in industry for them.even the top govt officials have admitted that.mthey are considered futures in the hope that they become valuable but I don't believe that will be in our lifetimes on this earth..got caught for a small amount myself..jez the whole net is filled with fraudsters,I think u should realize like most of us that your friend will never see his money again,you can buy these legitimately but then you try to sell and no one will buy them just like time share.....

 

[jblonde]

Did you report it to the police? If not why would you expect them to have a record of it? If you'd stop this crazy nonsense about demanding boiler room scammers be executed for treason then maybe people would take you seriously.

I understand my rant has at least made someone reply concerning this,but for those victims who have NOTHING left and are in poverty after working hard all their livesand saving hard I'm sure if you asked those people what should be done they will invariably agree that this is what should happen to those criminals..everything we do is influenced by happenings in our lives mate and this kind of happening is totally unbearable and the govt has failed to protect..therefore it is an individuals right to bring to bear any and all kinds of force toretrieve what was stolen from them.you just don't understand the amount of anger and rage in your fellow man when their life has been radically changed by thieves and radical is the position you need to set off from in understanding vengeance,I would never admonish any man for killing scum like this never!!!!! Not now anyway.

 

[jblonde]

Psssin you it took me 5 reports to various police organisations to even get heard,I'll tell you what..go and try to get your police report and tell me if you get it then I will say sorry I was wrong.

 

[jblonde]

Well you were a mug so stop blaming everyone else.

Ur a legend ok pboyles inur own mind,I don't think anyone who was victim to a scams needs an ass to tell them they were stupid in that episode of their lives,u must really have a high opinion of urself,u must be an exceptional human being in ur own mind!!!

 

[jblonde]

And further who is the everyone I'm blaming,I have always been talking about the failure of the govt and police to protect the citizens of our country.I think ull find that there are intellectuals who have put this scenario forward long before me.if law is to be obeyed it must also protect and in the case of boiler rooms it is the easiest thing to protect the populace from,just by introducing a few simple set of control.get educated in this before u open ur bill and there will be less quacking from u.

 

[crabs121]

Anyone know anything about Tullett Brown Ltd.I reported them to the police last year for cold calling.Tried to sell me carbon credits.
Just had another call from them asking how much money i have to invest.
They call with a withheld telephone No.

 

[anley]

Anyone know anything about Tullett Brown Ltd.I reported them to the police last year for cold calling.Tried to sell me carbon credits.
Just had another call from them asking how much money i have to invest.
They call with a withheld telephone No.

Well know scammers, tell them you have loads of cash from just having sold a property. get them interested, then tell them you don't deal with cold calling conmen. They won't like that, they don't like people telling them the truth because they're all used to living their lives as a lie.

 

[anley]

I have always been talking about the failure of the govt and police to protect the citizens of our country.

it is important for the government to try to protect its citizens from fraud but at the same time it's also very important for the citizens to realise a very important fact -

DON'T GET INVOLVED IN THINGS YOU DON'T UNDERSTAND.

All the people who got caught in boiler rooms sadly got involved in things they didn't understand, ie investments.

That's the sad point to all of this because not only didn't they understand anything about investments they also didn't understand the importance of doing their own due diligence and independent research.

Pre-internet independent research wasn't that easy, but with the internet it's now easy. That's the sad part to all of this, the research tools were available to everyone but they all failed to use them and no government can force people to use the internet or do their own independent research into what they're buying and who they're really doing business with.

Summary: It's fine to consider getting involved in things you don't understand BUT only if you're willing to educate yourself so you DO understand.

 

[anley]

Folks, this is what I've been saying for a long time when it comes to dealing with ALL financial institutions, legit AND scamers.

JAMES CONEY: Norman Hensher case highlights precisely why the vulnerable must be protected | This is Money

They really don't care, most of them just want your cash and if they've got to lie, cheat, steal, charm etc to get it, that is what they'll do.

If you read the personal finance press then you'll know what I mean. Every week there's some story about a big name firm doing the dirty.

THIS IS WHY EDUCATING YOURSELF IS SO CRITICAL.

With education you can spot their games and understand the kind of people (ruthless) you're dealing with. Without it, even the biggest named banks will often try to scam you, legal or illegal (they don't really know the difference anymore as even when they're illegal nothing ever happens apart from a fine (cost of doing business) and a slap on the wrists......

Folks, when it comes to money it's a SICK world out there - SO BE PREPARED FOR IT.

 

[jblonde]

I agree with the statements you've made,however with the world changing so much,education even in schools must try to catch up with events,if most of us had been taught the pitfalls of trading with anyone legit or otherwise most people would not have been caught out with boiler room scum.the rbs rep IS a fraudster!!!! That poor man mr hencher was robbed!!! And no one is doing anything about it.that's the disgrace I have been advocating all through my posts..

 

[davidwong111]

things to know about greenwood;

they claim to be danish, yet appear set up in ireland and sun out of an office in Mallorca by people with english accents, and offer brazilian products. Need I say more, I mean come on.

They were set up 3 years ago but offer 7 year investments. So effectively, they have only received cash and have paid not a cent out to a client......hmmmm!!!! pretty hard for the average investor to just go to the middle of nowhere brazil and check it out really, convenient!

They are not regulated. They mention they are set up in denmark, well 16 year olds in their bedrooms set up companies, that doesn't mean anything!

Offer returns that sound too good to be true, continually bug and repeatedly call you yet claim they are so busy they can barely keep up with demand, v aggressive sales people. Spoke to 2 that sounded poorly educated, and when mentioning questions like how do you calculate your returns, they have no idea what compound or straight line means/ nominal or real rates?, basic 101 for finance! Instead just say limited statements with no intellectual content other than, buy this cause its good.

Offer a product that has no liquidity whatsoever. Seriously, do you genuinely think this would be sold quickly if you needed to. Funny, given the major economic issues of last few years are caused by financial products with no liquidity and are very hard to price as a result. I mean could you exit this really if you wanted to, come on be realistic!

Dont mention FX risk on their website, well brazilian real is an emerging market currency. Now bearing this in mind even if you did get say a 10% return per annum, the FX changes would so easily wipe this out. Unless you are confident that in no way could brazilian real fluctuate over a 7 year period, even though it has moved ofver 10% in a matter of days historically!! Lets say you do make 10% per year and then just before 7 years when they pay you, fx rates dive, well that will wipe out your entire profit, and I was told my initial investment is not guaranteed either.

Do you really feel comfortable that you know enough about tree prices in brazil to invest in them, tieing up your money for 7 years and hoping nothing happens to that market!!!!

There "offices" in different parts of the world are not offices, they are merely individuals selling something to you. This is how I was contacted after speaking to 2 people they put me in touch with a gentleman who told me he was not directly employed by greenwood but was more of a go-between and the more I found out the more angry I got that this was going on and people could be fooled!

There is a big discrepency between some documents in danish law, irish and spanish. Also the company in brazil has a different name, so many issues that don't make sense!

Could this be a genuine company that makes good investments, well make your own mind up, but I concluded not to look further because of the above issues having spent some time looking into this, I felt like my time had been wasted.
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[crabs121]

Well know scammers, tell them you have loads of cash from just having sold a property. get them interested, then tell them you don't deal with cold calling conmen. They won't like that, they don't like people telling them the truth because they're all used to living their lives as a lie.

Already reported them to the city of London police last year. With there bank details.
Seems like the police don't care.
Tullett Brown Ltd, Barclays
Acc. Number 53599698
Sort Code 20-88-13.

Told them i have money to invest but not in carbon credits.Said they would get back to me.
Lets see if they come up with something else or another company rings me.
I do want to tell them what i think about them.But then the fun would stop.
Just want to waste as much of there time as i can.

 

[millerst]

I am glad George has been nabbed, but George is certainly NOT canadian.. he is from Manchester area in the UK, accent is easlily detectable..
has anyone got an addresfor him, or his real phone number, many peaople would like to "speak" to him.

While I am here ..Also watch out for the latest scam company .. Amazon Gold Ventures.. came registered address as Solamon energy corp.. another scam company set up in Canada and listed on the Frankfurt exhange.. those guys in Frankfurt need to get their act serioulsy cleaned up!!

Be aware
Just had a cold call from Phoenix investments based in Swiss trying to sell Solamon Energy to me, quickly reported it to the FSA and Dutch Equivalent, the company isnt registered

 

[friday76]

Yes I am up for it, I could become a right mouth piece for this cause.I think because it is international it is not an easy task for Police to perform, cross Police border crime is awkward for UK Police so international is going to be hard. I agree a coordinated approach is the way forward. If the topic was in the media it would bring it to peoples attention, so perhaps going to the papers and perhaps an internet page on the companies we know are fraudsters like the one a few posts up. I bet there are people out there who never complain or tell anyone. The person who I am involved with has said they have -no- money to appoint a solicitor.It is making my blood boil, something must be done. Does anyone know the time restraints on sending a ' Mareva letter' and the required content?

I agree with all that you say, the point is what is the most efective way to bring the downfall of these fraudsters. But first of all, we have to stop bitching to each other and think smart (like they do). We know the game they are playing, a game of smokescreen, virtual or proxy servers, false whois data, privacy protection, cloud computing, illegal websites, call forwarded phone calls, lies, etc. Everyone needs to up their game, because authorities are not responding to the crime. Now if I was a serial killer, you can bet resources would be bought to bear rather swiftly! We are victims of crime and the authorities are not listening, as we read in recent postings. Everyone needs therefore to act together rather than seperately. This forum has been going for years, but boiler rooms are still around. So what is the answer? Its quite obvious that boiler rooms on the net leave a visible footprint that is discerned from present and historical data they use to register their websites, amongst others. They have got away with it, up to this point, as authorities are unable to commit resources to this very large problem.
By trawling the information that they leave in their wake, it is possible to put out alerts at the very early stages of a boiler rooms life. Thes alerts would be published on a website such as boileralerts.net (I have made this up). By means of google, twitter,facebook, the site would get world wide publicity (lacking at the moment) and would be updated on a daily basis. Has anyone got any other ideas?

Now that globalinvestoralerts.com has gone (what a surprise) it seems that International Investor Alerts has taken up the baton. They have only been going for 4 months or so, so it may be too early to be 110% sure about them. I would however put them on your alert list as they share the same traceable location as Devonshire & Douglas Capital Partners. Many folk have lost money to these people, so I am alerting you to this fact.

If anyone wants be to a web trawler send a PM.

 

[anley]

So what is the answer?

One answer that I think would cut down their scams by a minimum of 75% is Public Service Broadcasts.

A series of 20-30 second commercials financed by the FSA (totally useless I know at protecting the consumer so perhaps they can do something of use for once) and run on ALL the TV channels, including the BBC (especially in the afternoons when many older folk are watching).

But oh no, nothing will probably be done. Instead the people at the FSA will no doubt be running all over the place, having plenty of meetings, all thinking they're very important etc.

But my comment to them is simple - please look in the mirror and realise what everyone else sees (who does't work for the FSA) - that you're a totally useless bureaucratic waste of space. Want proof, look at the banking crisis, PPI, bank charges, equitable life, 1001 mis-selling scandals and so on and so on. All the FSA ever get is some small time conman like Peter Foster or 100% guilty rogue trader who usually confesses anyway.

 

[anley]

David

yes, Brazilian 'plots of land' are a real growth area for the scammers. Plenty of people seem to be buying them WITHOUT DOING ANY OF THEIR OWN DUE DILIGENCE INTO WHAT THEY'RE BUYING AND WHO THEY'RE REALLY DOING BUSINESS WITH.

Folks, do business with firms like this and you WILL LOSE YOUR MONEY BUYING WORTHLESS LAND. They will be able to take your cash eas easily as candy from a kid bvecause you'll trust them and their 'information'. Please realise the massive error there.

One thing these firms love to do is hook you in small time then try to take everything you've got. Foir example, sell you a (worthless) plot for £7,000 then contact you 6 months later and say it's now 'worth' £11,000. They'll then try to get you to roll the 'profit' into another bigger plot which will require you to put up an extra £10,000 - £15,000. This process might repeat until they've taken you for £50,000 - £100,000.

And all the time you thought you were making money, you were being lied to so they could stuff you up with more worthless land. But try to sell the original plot and get them to send back the money, no way, all sorts of 'legal' problems will suddenly materialise.

FOLKS, PLEASE UNDERSTAND WHAT I'M SAYING HERE OTHERWISE YOU WILL BE LEFT WITH NOTHING. See this thread for the sad tales of woe if you don't understand how ruthless and cold these conmen are.

YOU'VE ALL BEEN WARNED.

things to know about greenwood;

they claim to be danish, yet appear set up in ireland and sun out of an office in Mallorca by people with english accents, and offer brazilian products. Need I say more, I mean come on.

They were set up 3 years ago but offer 7 year investments. So effectively, they have only received cash and have paid not a cent out to a client......hmmmm!!!! pretty hard for the average investor to just go to the middle of nowhere brazil and check it out really, convenient!

They are not regulated. They mention they are set up in denmark, well 16 year olds in their bedrooms set up companies, that doesn't mean anything!

Offer returns that sound too good to be true, continually bug and repeatedly call you yet claim they are so busy they can barely keep up with demand, v aggressive sales people. Spoke to 2 that sounded poorly educated, and when mentioning questions like how do you calculate your returns, they have no idea what compound or straight line means/ nominal or real rates?, basic 101 for finance! Instead just say limited statements with no intellectual content other than, buy this cause its good.

Offer a product that has no liquidity whatsoever. Seriously, do you genuinely think this would be sold quickly if you needed to. Funny, given the major economic issues of last few years are caused by financial products with no liquidity and are very hard to price as a result. I mean could you exit this really if you wanted to, come on be realistic!

Dont mention FX risk on their website, well brazilian real is an emerging market currency. Now bearing this in mind even if you did get say a 10% return per annum, the FX changes would so easily wipe this out. Unless you are confident that in no way could brazilian real fluctuate over a 7 year period, even though it has moved ofver 10% in a matter of days historically!! Lets say you do make 10% per year and then just before 7 years when they pay you, fx rates dive, well that will wipe out your entire profit, and I was told my initial investment is not guaranteed either.

Do you really feel comfortable that you know enough about tree prices in brazil to invest in them, tieing up your money for 7 years and hoping nothing happens to that market!!!!

There "offices" in different parts of the world are not offices, they are merely individuals selling something to you. This is how I was contacted after speaking to 2 people they put me in touch with a gentleman who told me he was not directly employed by greenwood but was more of a go-between and the more I found out the more angry I got that this was going on and people could be fooled!

There is a big discrepency between some documents in danish law, irish and spanish. Also the company in brazil has a different name, so many issues that don't make sense!

Could this be a genuine company that makes good investments, well make your own mind up, but I concluded not to look further because of the above issues having spent some time looking into this, I felt like my time had been wasted.
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[wildbilly]

Solamon Energy is one of the companies my chap was duped into investing in via Frank Marshall at Charles Pearson Investments. The Money was paid into a German bank.