Boiler Room Scams
- Thread starter Airthrey Capital
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Lee Shepherd , Aggie & Droyston on T2W ............Wednesday 14/1/2009
Yes indeed there are many Wolves prowling in Sheeps Clothing but it is
comforting to know we have a Shepherd ! . Very interested to
see reference to the Hong Kong scam and the scammer who is doing
time for his part in the £60m Fraud. Did the prosecution, conviction,
commital take place in the UK - if it involved UK GB £. Can you give us a little
more chapter & verse ? Was there an Intermediary or some other 'boiler room'
outfit involved ?
Any connection with Bernie Madoff who was taken into custody in
USA . I see that some Lord in London or UK rubbed shoulders with him in
Florida and entrusted £1m to Bernie ! What kind of society/world are we
living in ? Is it true that Bernie Madoff was an assistant Director of NASDAQ ?
Where are the Regulators and how have they let all this happen ?
However my immediate interest is Mr Jerome Herzberg connections in Hong Kong
so hope all you wise heads can come up with more detail . And if possible
forward the info to me directly please or alert me when there is a response .
"Prudential Partners Inc" in Panama City
Hi Anley - responding 14/1/2009
Ah , now that is interesting to have an outfit surfacing in PANAMA . Many of you
may have come across a supposed 'custodian'/'nominee' who originally purported to
have an address in CHICAGO, IL, USA but it was revealed that it was an entity
operating in PANAMA . Of course one can never know where these scammers are
operating from but it would be extremely wise to follow the 'Shepherds' advice .
The strategy is to get as much detail as possible and NEVER to make a commitment
no matter what kind of offer and 'promise' they present. There is a huge amount of
guidance on all the Financial Regulator websites and you will be well armed to
handle them if you send as much time as possible making yourself aware of all
the dangers.
I got scammed by ****** and Partners. I had told my "financial advisor" that i did not want to be in any investments that lock my money in. He managed to put me in one with a monthly contribution but the first two years of contributions are locked in for 25 years. At any time before maturity if I withdraw my money I lose everything I contributed for the first two years. That seems like a big fee to me for early withdrawal... Anyway, it is my fault for trusting these *******s. Stay away from ******!
Hi Squeaky 1 - 11 months later - Did you get your man ? If not keep tracking. You might have luck on Facebook.
In another post (in ? 2003 !) there is a reference to Hong Kong banks . Indeed
you could look up the recent report on the Hong Kong Fraud - Jerome Her(t)zog- age 38- who got something like 3years for money LAUNDERING offence involving USD$87m - having scammed many UK investors from a 'boiler room' in Spain - AND the
Banks or Financial Regulators are unable to say where the money has gone. But that is
chicken feed in comparison with the scammer Bernie Madoff - former Director of
NASDAQ who has ripped of his wealthy friends to the tune of USD$ 50 billion - he is
under house arrest - and unable to account for it. - A 3 year Jail sentence, ridiculous -
they should be put away for LIFE. -
Hi Squeaky 1 - 11 months later - Did you get your man ? If not keep tracking. You might have luck on Facebook.
In another post (in ? 2003 !) there is a reference to Hong Kong banks . Indeed
you could look up the recent report on the Hong Kong Fraud - Jerome Her(t)zog- age 38-
who got something like 3years for money LAUNDERING offence involving
USD$87m - having scammed many UK investors from a 'boiler room' in Spain - AND the
Banks or Financial Regulators are unable to say where the money has gone. But that is
chicken feed in comparison with the scammer Bernie Madoff - former Director of
NASDAQ who has ripped of his wealthy friends to the tune of USD$ 50 billion - he is
under house arrest - and unable to account for it. - A 3 year Jail sentence, ridiculous -
they should be put away for LIFE. Robbery & theft of such proportions must be
severly penalised and the Judiciary Police Regulators will have to respond to the mood of the ordinary law abiding citizen.
Hi NS 1000 - Hope you are still around 4 years later and a lot of water under the bridge !
The FSA Register is very informative and one can find a lot of detail. However ,
when one has to deal with a 'customer unfriendly' foreign Regulator because of the
notorious 'passporting' arrangement/language problem via ISD (Investment Services
Directive) or MiFId (Markets in Financial Investment Directive) that is another matter.
The 'foreign' Regulators register only discloses the MD - they state that the MD is
responsible for 'compliance' of his staff BUT the Foreign Regulator does not care
what kind of 'crook' the MD employs ! This is a shocking state of affairs and until
that 'foreign' state gets it's house in order every potential investor should do
everything possible to boycott them . I complained recently to a 'foreign' regulator
pointing out that their register is 4 months out of date they pleaded some
technical difficulty. I also had to point out that the ' ? intermediary'- 'scammer'
was in breach of the rules/regulations by omitting to state name of the MD on
stationery and emails 3/4 years after first contact with me. We need to get the
widest publicity for this kind of thing otherwise we are only talking to ourselves !
everyonerich
Experienced member
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some email..
100% SCAM Johan.
Stay well clear unless you want them to steal your money.
Swiss regulator has a warning about them on their website.
Also, their name is flashy sounding, 99% of the 'companies' with these kinds of names are scam.
Everest 1 Inc
Jondrain - Suggest you look up the Websites of Financial Regulators , for example
USA Regulator is SEC (Securities Exchange Commission) which would licence ,
authorise, regulate a 'financial intermediary' in New York. Following is the website,
U.S. Securities and Exchange Commission (Home Page)US Securities and Exchange
Commission: official Federal Agency website, including news, legal and other releases
and reports, investor education material, ...
U.S. Securities and Exchange Commission (Home Page)
- 43k - Cached - Similar pages
They will be delighted to help you with advice regarding Everest 1 Inc, New York .
Meantime , prudence and caution are the watchwords.
Jondrain - Suggest you look up the Websites of Financial Regulators , for example
USA Regulator is SEC (Securities Exchange Commission) which would licence ,
authorise, regulate a 'financial intermediary' in New York. Following is the website,
U.S. Securities and Exchange Commission (Home Page)US Securities and Exchange
Commission: official Federal Agency website, including news, legal and other releases
and reports, investor education material, ...
U.S. Securities and Exchange Commission (Home Page)
- 43k - Cached - Similar pages
They will be delighted to help you with advice regarding Everest 1 Inc, New York .
Meantime , prudence and caution are the watchwords.
Thanks!
Thanks for that... I thought they sounded VERY dodgy. Do you or anyone else know where they are based? I have heard they are based in Zug but it might as well be one of those spank shops in Spain? Have you ever seen a physical address or a landline phone number for them? They don't want to give me their number...
Cheers
Johan
Thanks for that... I thought they sounded VERY dodgy. Do you or anyone else know where they are based? I have heard they are based in Zug but it might as well be one of those spank shops in Spain? Have you ever seen a physical address or a landline phone number for them? They don't want to give me their number...
Cheers
Johan
That's always a good sign of trust between broker and client
You'll never know where they are, probably in Spain but could even be in Laos or Jakarta.
I agree with Gold 1 that you should check these people out but would also advise you to consider the following:
1) Was this a cold call? - sounds as if it was.
2) Are they offering a very good and/or very quick profit on the shares? If you have not been involved before they will probably suggest a small investment to start to demonstrate how great they are at making a quick profit for you. They will then suggest you roll this 'profit' in to a larger investment, with, of course, additional investment.
3) Do they want you to make a quick decision with very limited information?
4) Do they want you to send the money offshore?
If the answer to any of these is 'yes' I'd say don't do it.
Unless they already have a history, which most don't because they are constantly setting up under different names, a lot of these companies don't show on the radar of the Authorities and, under the pressure put on you by the 'broker' you end up making your decision before you can find information on them because you want to believe there is a quick return. That's what they rely on.
The company I lost all my money to was Linsure Holdings, apparently listed on Nasdaq
but actually a scam and the authorities in the USA not only didn't have any way of identifying the scam companies, they also did nothing about it when I gave them all of the details.
Droyston 1 - 21/1/2009 - re Swiss Management Consulting, Everest 1 Inc and many others....
AND that is also very good advice too from Droyston 1 BUT as mentioned previously the numbr
of hits on this , if to be judged by the number of posts and responses , are not getting to a wide
audience. So in a way we are just talking to ourselves ! It might be a good idea to make contact with
an 'investors association' and understand there are a few in the UK. Unless we are organised
and can seek support for complaints. Also to lobby the legislature to deal severly with 'scammers'.
There is something seriously wrong when money can be 'LAUNDERED' and the perpetrators cannot
account for it - and the Regulators , or authorities cannot locate it !. Also you will see on various
scam/fraud websites that there is such variance in the punishment . ...............
British subject operating from Spain involved in Laundering USD $87m gets 3.5 years Jail
Florida - Father & daughter $90m expected to get 60 years Jail
Former Chairman of NY Stock Exchange - a ponzi of circa USD $ 50billion
expected to get 30 years Jail ! Little comfort to the VICTIMS.
Has the judiciary gone mad ?
AND that is also very good advice too from Droyston 1 BUT as mentioned previously the numbr
of hits on this , if to be judged by the number of posts and responses , are not getting to a wide
audience. So in a way we are just talking to ourselves ! It might be a good idea to make contact with
an 'investors association' and understand there are a few in the UK. Unless we are organised
and can seek support for complaints. Also to lobby the legislature to deal severly with 'scammers'.
There is something seriously wrong when money can be 'LAUNDERED' and the perpetrators cannot
account for it - and the Regulators , or authorities cannot locate it !. Also you will see on various
scam/fraud websites that there is such variance in the punishment . ...............
British subject operating from Spain involved in Laundering USD $87m gets 3.5 years Jail
Florida - Father & daughter $90m expected to get 60 years Jail
Former Chairman of NY Stock Exchange - a ponzi of circa USD $ 50billion
expected to get 30 years Jail ! Little comfort to the VICTIMS.
Has the judiciary gone mad ?
Last edited:
Gold
This thread does a very good job and stopping a lot of people lose money to the boiler room scum.
It's well up in Google and so anyone that types in a name has a good chance of stopping by here.
The trouble is with informing an 'Investors Association' is that is there one? And if there is has anyone heard from it? And would a potential mark bother to check beforehand?
The only way to stop them is from proper government action but this is not going to happen in the UK. It has though in the US which is why the scammers hardly ever contact US citizens as they know if they do there's a good chance that the full power of the US government coming after them AND gettting them.
I've always said that the scammers are laughing, getting pissed, snorting coke with hookers etc at the UK government and Police. Sure, they catch one every now and then but then they get stupid sentences, 3 years, out in 1.5 is a joke.
Surely now though with the current economic mess the whole population must have woken up to the fact that YOU CANNOT TRUST ANYONE THESE DAYS WITH MONEY UNLESS THEY FIRST EARN TRUST WITH YOU.
And that counts just as much for a boiler room as it does to Natwest or Barclays who are generally only going to be too happy to (legally) stuff you up.
This thread does a very good job and stopping a lot of people lose money to the boiler room scum.
It's well up in Google and so anyone that types in a name has a good chance of stopping by here.
The trouble is with informing an 'Investors Association' is that is there one? And if there is has anyone heard from it? And would a potential mark bother to check beforehand?
The only way to stop them is from proper government action but this is not going to happen in the UK. It has though in the US which is why the scammers hardly ever contact US citizens as they know if they do there's a good chance that the full power of the US government coming after them AND gettting them.
I've always said that the scammers are laughing, getting pissed, snorting coke with hookers etc at the UK government and Police. Sure, they catch one every now and then but then they get stupid sentences, 3 years, out in 1.5 is a joke.
Surely now though with the current economic mess the whole population must have woken up to the fact that YOU CANNOT TRUST ANYONE THESE DAYS WITH MONEY UNLESS THEY FIRST EARN TRUST WITH YOU.
And that counts just as much for a boiler room as it does to Natwest or Barclays who are generally only going to be too happy to (legally) stuff you up.
Jbat001
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Swiss Management Consulting are on the FSA's register of scammers:
Unauthorised overseas firms operating in the UK
Avoid like the plague!
Unauthorised overseas firms operating in the UK
Avoid like the plague!
jverho
Junior member
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HI, I AM NOT REALLY FAMILIAR WITH THIS THREAD, SO EXCUSE ME IF THIS HAS COME UP ALREADY MILLION TIMES....
Is anyone here following sucessfull pump and dump scemes that these boiler rooms go?? I have experience from couple and they make sometimes super good shorting opportunities. Signs for cooling are often quite clear and the stock itself is often pure crap which will blow out sooner or later. One problem ofcourse is to find these stocks to borrow....!
Cheers,
J
Is anyone here following sucessfull pump and dump scemes that these boiler rooms go?? I have experience from couple and they make sometimes super good shorting opportunities. Signs for cooling are often quite clear and the stock itself is often pure crap which will blow out sooner or later. One problem ofcourse is to find these stocks to borrow....!
Cheers,
J
