Boiler Room Scams

[Pat494]

Probably a bit boring for some but the old adage is true = stick with the blue chip stocks.

 

[ghost1607]

Attached is the document I have just received about my Paragon shares. Any help would be appreciated.

 

[tikitiger]

Yes, absolutely back out of the deal......dont think twice. I've had these clowns from Value Management Asia call me several times as well. Of course they are offering a great trade with a stock, SMRT technologies, who Apple are about to sign with. Get in tonight etc as the stock will go up from $2.75 to $4.00. The brokers name is Alexander Young. Hang up if these guys call....tell them you want a $1M position (or have some fun with them) to get them excited then just hang up.
Based in Seoul for a reason...hard to track down.
What stock broker uses an over the phone trading regimen? It just doesn't stand up.

Just wanted to state that somebody by the name of John Robbins from Value Management Asia also just recently called me with the same offer. It's most certainly a scam. Be careful everyone!

 

[ben5491]

Hi.
I am a newbie investor.

Got a cold call from a rep saying he is from Carlton Church (based on Tokyo).
The calls came via VOIP phone numbers in California.

The chap with a middle England accent convinced me to invest in shares of a financial services company where they have credible information that the counter would surge soon.

Carlton Church said that they have placement shares which they offered to sell me 2000 at a discounted price vis-a-vis what the counter is publicly being traded for.

.....I am under tremendous stress this period due to some family matter so wasn't thinking straight - my fault really. But I signed up as a member, provided them a copy of driver's license, address etc and bought 2000 shares.

Now he tells me that he has an equally good deal for some entertainment company's shares. The Carlton Church broker then proceeded to invoice me for this 2nd transaction.

My suspicion is raised cos the amount in question necessary is rather large. And while their website looks credible, their communications (via VOIP, online client login via simple 3rd party website, errors in spelling) doesn't commensurate that of a credible broker.

Can I seek your valuable advice on how to:
1) get my money back on my first transaction.
2) protect myself from any repercussion from stepping away from the 2nd transaction in the IT shares
3) protect myself from any subsequent transactions since they have my personal particulars?

I am already under tremendous stress on a personal front. I don't know where else to turn to or who to speak to for advice. Appreciate any help or advice you folks can offer.

many thanks

 

[tom2048]

Hi.
I am a newbie investor.

Got a cold call from a rep saying he is from Carlton Church (based on Tokyo).
The calls came via VOIP phone numbers in California.

The chap with a middle England accent convinced me to invest in shares of a financial services company where they have credible information that the counter would surge soon.

Carlton Church said that they have placement shares which they offered to sell me 2000 at a discounted price vis-a-vis what the counter is publicly being traded for.

.....I am under tremendous stress this period due to some family matter so wasn't thinking straight - my fault really. But I signed up as a member, provided them a copy of driver's license, address etc and bought 2000 shares.

Now he tells me that he has an equally good deal for some entertainment company's shares. The Carlton Church broker then proceeded to invoice me for this 2nd transaction.

My suspicion is raised cos the amount in question necessary is rather large. And while their website looks credible, their communications (via VOIP, online client login via simple 3rd party website, errors in spelling) doesn't commensurate that of a credible broker.

Can I seek your valuable advice on how to:
1) get my money back on my first transaction.
2) protect myself from any repercussion from stepping away from the 2nd transaction in the IT shares
3) protect myself from any subsequent transactions since they have my personal particulars?

I am already under tremendous stress on a personal front. I don't know where else to turn to or who to speak to for advice. Appreciate any help or advice you folks can offer.

many thanks

Sorry mate, but you are not a newbie investor but a newbie victim, Carlton Church is a boiler room, they sell nothing but air, and BS stories on the phone.

Getting money back which you gave them already: forget it, already disappeared in dark channels that you wont be able to trace.

repercussions for staying away from 2nd "deal": don't worry about that, they are just a bunch of crooks, white collar crooks, don't give them a single cent anymore, screw them, they are criminals and have no "legal" ways to do you any harm.

protect yourself from future transactions: you didn't give them the access or the right to debit funds from your accounts I guess....don't worry about that either, but you will keep on getting calls from scum like that, once on a suckers list always on a suckers list. Never send money to "brokers" that contacted you via cold call, only crooks do that.

You should report them to your local police, and file online reports to the FBI/ SEC/ actionfraud UK, report them also to the FCA in UK, with request to get them blacklisted.

So for future calls you let the guy talk for a while, let him make his promises about the share he is offering going through the roof....and then you ask him what he can do to proof to you that he is not boiler room scum, ask if his company is properly registered in the country where they are operating and if he can provide proof for that....ask him for his real name, and what he tells his friends and family back home what he is doing for a living, if they know that his "work" is defrauding people day by day...

 

[ben5491]

Hi Tom2048.
Cheers for your frank advice.
You are right......I am indeed a sucker to have fell for it. Shouldn't even have the gall to call myself an "investor".

I am in a terrible state now. Stressed out. Lost.
Besides ignoring the calls and ignoring the 2nd invoice, both pieces of advise which I would heed - am I to expect legal threats, demand letters etc? Do I do anything about those?

The TT money transfer were made to a beneficiary bank in the USA and from the USA bank, to an account holder based there. Can anything be done?

Carlton Church does not have an office in the USA nor UK. Can I still file a report to FBI, SEC?

Can I still file a report to FCA UK, Action Fraud since no transaction occurred in the UK?

 

[tom2048]

Hi Tom2048.
Cheers for your frank advice.
You are right......I am indeed a sucker to have fell for it. Shouldn't even have the gall to call myself an "investor".

I am in a terrible state now. Stressed out. Lost.
Besides ignoring the calls and ignoring the 2nd invoice, both pieces of advise which I would heed - am I to expect legal threats, demand letters etc? Do I do anything about those?

The TT money transfer were made to a beneficiary bank in the USA and from the USA bank, to an account holder based there. Can anything be done?

Carlton Church does not have an office in the USA nor UK. Can I still file a report to FBI, SEC?

Can I still file a report to FCA UK, Action Fraud since no transaction occurred in the UK?

What you should do right away is contact your sending bank and ask them to do a money recall, dont let them send you off with some cheap excuse. Maybe you are lucky and can get the target account frozen. As the story went via US bank that is one more reason to contact the FBI, you can assume that you are not the only victim and that huge amounts have passed through that account, or maybe are still there, you can give the crooks a real headache with an account freeze.
again, dont worry about any letters or whatever "legal" threats, ignore them, or play with them, demand to know where and who they really are so you can go after them....their threats are as empty as their promises about the super trades they can do, its all just crap.

Boiler room crooks call the lists with potential investors, or better future victims, sucker lists, so nothing personal, for those low life creatures the people they rip off are nothing but suckers, and they dont give a damn when a victim commits suicide when they have stripped him naked.

Take it easy, life goes on, consider yoursef lucky that you found out before they managed to blow you dry.

 

[whistler_man]

ALERT!!!
This is a warning about a virtual company called Westrate Capital Management a boiler room operation which is currently targeting punters in Bangkok and possibly the world at the moment.
http://www.andrew-drummond.com/2016/05/boiler-room-warning-westrate-capital.html

Another Boiler Room operating under a cloned name is:
The ****** Insurance Agency
They are advertising in Manila and other places on Craigslist.
The ad: http://manila.craigslist.com.ph/sls/5544237237.html

Here is their contact: For more information and to send your application, please send your resume to jess.aranas@******-group.com
He's a Filipino guy. Looking on Linkedin, They all have a profile but info doesn't check out.

I would like to know if anyone here has had any contact with this group. Message me.

 

[whistler_man]

What you should do right away is contact your sending bank and ask them to do a money recall, dont let them send you off with some cheap excuse. Maybe you are lucky and can get the target account frozen. As the story went via US bank that is one more reason to contact the FBI, you can assume that you are not the only victim and that huge amounts have passed through that account, or maybe are still there, you can give the crooks a real headache with an account freeze.
again, dont worry about any letters or whatever "legal" threats, ignore them, or play with them, demand to know where and who they really are so you can go after them....their threats are as empty as their promises about the super trades they can do, its all just crap.

Boiler room crooks call the lists with potential investors, or better future victims, sucker lists, so nothing personal, for those low life creatures the people they rip off are nothing but suckers, and they dont give a damn when a victim commits suicide when they have stripped him naked.

Take it easy, life goes on, consider yoursef lucky that you found out before they managed to blow you dry.

EXACTLY RIGHT! Contact that bank you sent funds to and tell them you have been a victim of a Financial Scam from a Boiler Room. I've heard of HSBC sending money back to a few people that TT'ed funds to cover an "investment"
Do not delay! Call immediately, You may not get your money back but it will prevent them from screwing anyone else as the bank will close the account.

 

[Pat494]

ALERT!!!
This is a warning about a virtual company called Westrate Capital Management a boiler room operation which is currently targeting punters in Bangkok and possibly the world at the moment.
http://www.andrew-drummond.com/2016/05/boiler-room-warning-westrate-capital.html

Another Boiler Room operating under a cloned name is:
The ****** Insurance Agency
They are advertising in Manila and other places on Craigslist.
The ad: http://manila.craigslist.com.ph/sls/5544237237.html

Here is their contact: For more information and to send your application, please send your resume to jess.aranas@******-group.com
He's a Filipino guy. Looking on Linkedin, They all have a profile but info doesn't check out.

I would like to know if anyone here has had any contact with this group. Message me.

Disguise the name a bit to get it through Sharky's net and no more *****group etc.

 

[Theswede]

Value Management, Korea

Firstly, I'm not proud of what I did before. I was working as a "Senior Portfolio Manager" and then as a "Vice President of Institutional Trading". Also known in the Boiler room business as a "Loader" I got out several years ago and started trying to help people to NOT get ripped off.

Secondly, It is 1000% a SCAM. Your "Portfolio Manager" wrote up your "deal" and said he would pass it on to a "Compliance Officer" He most likely "Buttoned you up" first by getting you to agree to buy the "Shares" and listen to his advice when time to sell and judge him or her on the % profits. For a "long and profitable" relationship. Right? He failed to mention that it will only be profitable for him and his Boiler room buddies.

Getting back to the "recorded" compliance call. I have made many of these calls myself and it usually consists in getting you to say "yes" about 7 times during the call. Confirming your info, yes, yes, yes that is correct. Then agreeing to TT the funds within 3 days. It's never recorded and they may call you if you "Kick" (meaning refusing to pay) and threaten you with legal action. They usually say that the recording is a "digital signature" Like signing a contract. If you get that call, Just tell them that your wife is Korean and she has been to their listed address and they aren't there. See what the little S%$t says to that.

Bottom line, NEVER believe anyone calling you about these investments.
They use scrips that are written to Psychologically convince you to buy. Appealing to your Greed. Two reasons why people fall for these scams. 1 Greed and 2. Fear of loss. Te profits seem fantastic or he only has a few shares left for new clients and they may be gone by the end of the day.

I've got scripts and lists of rebuttals if you want, message me and I'll send them to you so you can tell their MO next time they call.
One of my favorite lines for when someone said that a particular OTC / Pink Sheet stock didn't have any trading volume was "Well, John, I'm looking at a Reuters Level two Blue Screen and I see where Merrill-Lynch just purchased 2 Million shares and the news of this contract is not public information yet. No such thing as a Reuters Level two Blue Screen.

Value Management Asia Inc
Address: Young Poong Building 8F, 33 Seorin-dong Jongro-g Seoul, 110-752 South Korea
Telephone: +822 6022 1202
Fax: +822 6022 1274
Website: valuemgmtinc.com

This is a Serviced office building like Regus. They are not there.
Good luck but tell them to FO!

I got contacted by Value Management as well offering me to by shares in SMTE. The pitch was that SMTE had just signed a big deal with Apple that would take the share from $2.83 to North of $5. It was exactly as you described. First the sales guy called (Harvey Ross, no hits on google, LinkedIn, etc.) and then the Compliance Officer (Oliver Dixon, also no hits on any search). The company, Value Management, has a profile on LinkedIn with no connections as well as a Facebook page which was created this year. Their web side gives no real information.

SCAM in my view.

 

[tom2048]

WARNING!WARNING!WARNING!WARNING!WARNING!WARNING!WARNING!WARNING!WARNING!WARNING!

2 more new boiler rooms have come up, same crooks behind it again, do not deal with these 2, don't believe a word they tell you on the phone and espcailly don't send them a single cent!

Power Management


8th FL, International Trade Tower,
Nehru Place, New Delhi, 110019
India
Tel +91 11 3044 6621
Fax +91 11 3044 6622

***

1203 Tower 2, One Indiabulls Centre,
Jupiter Mills Compound,
Senapati Bapat Marg Elphinstone Road (W),
Mumbai, 400013,
India
Tel +91 22 3354 3670
Fax +91 22 4941 1512

website: http://power-mgmt.com/



2nd crook "company":

Excel Management
Indra Prakash Building
5th Floor
Barakhamba Road
New Delhi, 110001
India

Tel. +91 11 3019 4176
Fax + 91 11 3019 4177
Email: [email protected]

website: http://excelmanagement.com

Stay away from those *******s, they never trade any shares, all they do is steal your money!

 

[blackwatch]

Value Management Asia

To the Boiler Rooms mentioned by tom2048

Power Management
Excel Management

please add ;

Value Management Asia
Young Poong Building 8F
33 Seorin-dong Jongro-g Seoul
110-752 South Korea
Phone +822 6022 1202
Fax +822 6022 1274
Web http://valuemgmtinc.com

In the event you have transacted with any of the above Boiler Rooms please contact me at : [email protected]

In case you do get contacted by any of them please tell them to FO. You will be doing yourselves perhaps the best thing you have ever done.

 

[pompeydave]

Paragon

I like quite a few other purchased shares in Paragon GPS and have spoken to all kinds of people over the years.
Today I received a phone call offering to buy all my shares for around $20.00 each, I think I have around 5000 but I will have to dig out the paperwork. They said all they need was my signature. What do you think they are upto ?

I also have recently received an offer for my shears in paragon but i'd need to move them into another comp; i.e ford but would need to pay an extra $6,600 to bring up the short fall. Look up the comp; MWI Consultants Singapore, look high profile BUT?
what do you thing.

 

[Pat494]

I also have recently received an offer for my shears in paragon but i'd need to move them into another comp; i.e ford but would need to pay an extra $6,600 to bring up the short fall. Look up the comp; MWI Consultants Singapore, look high profile BUT?
what do you thing.

Use a properly regulated UK stockbroker or risk losing the lot.

 

[blackwatch]

I also have recently received an offer for my shears in paragon but i'd need to move them into another comp; i.e ford but would need to pay an extra $6,600 to bring up the short fall. Look up the comp; MWI Consultants Singapore, look high profile BUT?
what do you thing.

Do not have to think about it-
It is a FRAUD - DO NOT PAY
Paragon GPS was sold/taken over some years back by the WMX Group run by Thomas Anthony Guerriero who has been arrested by the SEC and is currently facing numerous charges under the Federal Securities Laws in the US.
See Litigation Release No. 23429 / December 16, 2015.
There is also a post in this forum if you want to look for it.
I cannot find MWI Consultants in SG – not a good sign.
Do they have an address at Ocean Financial Centre, Raffles Place, SG ?
You can contact me at [email protected]

 

[ben5491]

angry follow-up call from Carlton Church

Hi all.

Update.

I just got an angry and hostile follow up call from Carlton Church.
I have refused to TT more money to them as advised by forummers here. And hence, have refused to comply their latest instruction to wire funds equivalent to 30% withholding tax. (Carlton Church claimed to have helped me sell the "shares").

The angry call came today from a new chap to say that he has been assigned to look into my case. He threatened to pass the case over to his lawyers when i demanded to know where my money is.

He threw me jargon about shares being held by FDIC (doesnt make sense), couldnt give me a straight answer on what is the tax reference number with IRS etc....

I am not very clued in on how this withholding tax works but sending tax payment to a bank in Jakarta doesnt make sense.

I am going to assume a legal demand letter will come by soon.
what do i do with this legal letter?

Simply ignoring it isnt a long term solution. What do i say to stop this harrassment?
My family is affected cos of the stress.

I have reported to my local police, my bank, FBI, SEC and FCA. Have also reported this to the equivalent FCA in Japan where Carlton Church is alledged to be based. But nothing from these official agencies so far.

My bank has been unable to claw the money back.

I am prepared not to see my money again but simply want this harassment to stop.

Does anyone have a script on what to say (Whistler_man, can u help please) or does anyone have pointers on what to expect next?

Or what should i do?

Many thanks

Firstly, I'm not proud of what I did before. I was working as a "Senior Portfolio Manager" and then as a "Vice President of Institutional Trading". Also known in the Boiler room business as a "Loader" I got out several years ago and started trying to help people to NOT get ripped off.

Secondly, It is 1000% a SCAM. Your "Portfolio Manager" wrote up your "deal" and said he would pass it on to a "Compliance Officer" He most likely "Buttoned you up" first by getting you to agree to buy the "Shares" and listen to his advice when time to sell and judge him or her on the % profits. For a "long and profitable" relationship. Right? He failed to mention that it will only be profitable for him and his Boiler room buddies.

Getting back to the "recorded" compliance call. I have made many of these calls myself and it usually consists in getting you to say "yes" about 7 times during the call. Confirming your info, yes, yes, yes that is correct. Then agreeing to TT the funds within 3 days. It's never recorded and they may call you if you "Kick" (meaning refusing to pay) and threaten you with legal action. They usually say that the recording is a "digital signature" Like signing a contract. If you get that call, Just tell them that your wife is Korean and she has been to their listed address and they aren't there. See what the little S%$t says to that.

Bottom line, NEVER believe anyone calling you about these investments.
They use scrips that are written to Psychologically convince you to buy. Appealing to your Greed. Two reasons why people fall for these scams. 1 Greed and 2. Fear of loss. Te profits seem fantastic or he only has a few shares left for new clients and they may be gone by the end of the day.

I've got scripts and lists of rebuttals if you want, message me and I'll send them to you so you can tell their MO next time they call.
One of my favorite lines for when someone said that a particular OTC / Pink Sheet stock didn't have any trading volume was "Well, John, I'm looking at a Reuters Level two Blue Screen and I see where Merrill-Lynch just purchased 2 Million shares and the news of this contract is not public information yet. No such thing as a Reuters Level two Blue Screen.

Value Management Asia Inc
Address: Young Poong Building 8F, 33 Seorin-dong Jongro-g Seoul, 110-752 South Korea
Telephone: +822 6022 1202
Fax: +822 6022 1274
Website: valuemgmtinc.com

This is a Serviced office building like Regus. They are not there.
Good luck but tell them to FO!

 

[blackwatch]

Hi all.

Update.

I just got an angry and hostile follow up call from Carlton Church.
I have refused to TT more money to them as advised by forummers here. And hence, have refused to comply their latest instruction to wire funds equivalent to 30% withholding tax. (Carlton Church claimed to have helped me sell the "shares").

The angry call came today from a new chap to say that he has been assigned to look into my case. He threatened to pass the case over to his lawyers when i demanded to know where my money is.

He threw me jargon about shares being held by FDIC (doesnt make sense), couldnt give me a straight answer on what is the tax reference number with IRS etc....

I am not very clued in on how this withholding tax works but sending tax payment to a bank in Jakarta doesnt make sense.

I am going to assume a legal demand letter will come by soon.
what do i do with this legal letter?

Simply ignoring it isnt a long term solution. What do i say to stop this harrassment?
My family is affected cos of the stress.

I have reported to my local police, my bank, FBI, SEC and FCA. Have also reported this to the equivalent FCA in Japan where Carlton Church is alledged to be based. But nothing from these official agencies so far.

My bank has been unable to claw the money back.

I am prepared not to see my money again but simply want this harassment to stop.

Does anyone have a script on what to say (Whistler_man, can u help please) or does anyone have pointers on what to expect next?

Or what should i do?

Many thanks

ben5491

Carlton Church is a BOILER ROOM
The Domain was registered on 31Dec15 and expires ONE year later on 31Dec16.
As a company it does not exists, it is not registered in Japan.
Make things simple for yourself; Demand they email you a copy of the Japanese Registration Certificate and a copy of the Japanese Authorities authorisation to conduct any Financial Business out of Japan.
If they become arrogant and aggressive tell them to go FO.
There will be NO legal letter of demand. There is nothing they can do to you.
I would be interested to see a copy of their Invoice. Would you please email me a copy at [email protected] thank you.

 

[ben5491]

Hi Blackwatch.

many thanks for the advice.
And the help to look up on Carlton Church.
Will wait for the next (angry) call from them again and do just that.

hopefully, this will stop.

My local police has just replied me officially.
The case is now raised to Interpol but the officer told me quite frankly, nothing much more can be done since the money has probably been transferred to an off-shore bank eons ago. And Carlton Church is probably an untraceable shell company, with no registration, no real address in Tokyo.

The police have asked me not to share too much info that may inevitably alert Carlton Church and hamper Interpol's efforts......

But they have asked me to change my bank account, change my email passwords etc to prevent further phishing attacks. And to alert my friends to contact me to verify details if someone poses as me sends them a request to transfer funds.

Apparently, boiler room is just Stage 1 of a long-string of scam actions.

ben5491

Carlton Church is a BOILER ROOM
The Domain was registered on 31Dec15 and expires ONE year later on 31Dec16.
As a company it does not exists, it is not registered in Japan.
Make things simple for yourself; Demand they email you a copy of the Japanese Registration Certificate and a copy of the Japanese Authorities authorisation to conduct any Financial Business out of Japan.
If they become arrogant and aggressive tell them to go FO.
There will be NO legal letter of demand. There is nothing they can do to you.
I would be interested to see a copy of their Invoice. Would you please email me a copy at [email protected] thank you.

 

[Pat494]

Hi Blackwatch.

many thanks for the advice.
And the help to look up on Carlton Church.
Will wait for the next (angry) call from them again and do just that.

hopefully, this will stop.

My local police has just replied me officially.
The case is now raised to Interpol but the officer told me quite frankly, nothing much more can be done since the money has probably been transferred to an off-shore bank eons ago. And Carlton Church is probably an untraceable shell company, with no registration, no real address in Tokyo.

The police have asked me not to share too much info that may inevitably alert Carlton Church and hamper Interpol's efforts......

But they have asked me to change my bank account, change my email passwords etc to prevent further phishing attacks. And to alert my friends to contact me to verify details if someone poses as me sends them a request to transfer funds.

Apparently, boiler room is just Stage 1 of a long-string of scam actions.

To get rid of scamming pests buy a dog whistle and blow loudly !
or
better still make a tape of all the foul things you want to say to them. Make sure it's them first tho