Adrian,
Do you have any more details of the broker that called you, are you sure that was the name? Also did you get an address for their office?
Boiler Room Scams
- Thread starter Airthrey Capital
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Adrian,
Do you have any more details of the broker that called you, are you sure that was the name? Also did you get an address for their office?
experienced_it_all
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It is the "Market Capitalization" that is at $82M which means nothing, it is a very small micro-cap anyway (outstanding shares X share price). I´m sure a real valuation of the company would result in negative numbers. If you look at their 10Q Report under SEC Filings, you can see that their negative income rising (it is a bit hidden because these are un-audited reports.)
Also, I found this interesting from the PPRW 10Q - 13. SUBSEQUENT EVENTS / On July 31, 2009, we closed the acquisition of 100% of the issued and outstanding equity ownership of Rupinvest Sarl, a corporation duly organized and existing under the laws of Luxembourg (“Rupinvest”), from Esdras Ltd., a corporation duly organized and existing under the laws of Cyprus (“Esdras”). We acquired 100% of the issued and outstanding equity ownership interest in Rupinvest from Esdras in exchange for the potential transfer to Esdras of up to three million shares of our restricted common stock, with the number of shares to be transferred, if any, to be calculated based on sales by Rupinvest’s wholly owned subsidiary, Arco Energy Srl, over a three-year period.
They just turn these companies over and over, change the names, run the scam, reverse merge and do it again. It pays big to be a legal thief!
Anyway, there are large companies on the Pinksheet market as well. Look at Nestle (NSRGY), it has a Market Cap. of $174 Billion but you won´t find this company being sold through boiler rooms.
kenmar 1952
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Interesting post "experienced it all", very informative. I take your point re "market cap". I do read the sec filings but I am not an accountant or lawyer or broker & I get bored trying to plough through the c..p looking for the good bits. However I can usually find something which makes me suspicious, even if it is for the wrong reasons!
The point that struck me as I mentioned before was that premier energy were formed in 2001 yet the company info shows the name change from Harry's Trucking just last year. Bit of a faux pax possibly?
The point that struck me as I mentioned before was that premier energy were formed in 2001 yet the company info shows the name change from Harry's Trucking just last year. Bit of a faux pax possibly?
experienced_it_all
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That´s just part of the scam. Using reverse mergers gives the company a history to work with. If you buy a shelf company that formed in 1921, you can say "in business since 1921". This is really the whole reason they sell "aged" shelf companies. Although in this case with PPRW, they should say the company was formed in 2004. I also think that the boiler rooms count on people not being lawyers, accountants, brokers, etc. and they know very well that people don´t want to look through all that info. if you do not know exactly what to look for. When I sign an apartment lease or credit card contract or even sign up for Paypal or what have you, I don´t read through the 30 clauses of the contract, I just trust it is a standard contract. I think the "advisors" do a good job at making people comfortable, they tell people "get your lawyer to look it over" or "your well protected with the contract notes, look it over carefully" and by saying that, people figure "well, he must not be hiding anything". On top of all that, it is unfathomable that these companies remain in business with out any legal recourse available to the investors!
OTC Market Tier
Pink Quote/OTCBB
Primary SIC — Industry Classification
4931 - Electric and other services combined
State Of Incorporation
DE
Jurisdiction Of Incorporation
United States
Year Of Incorporation
2004
experienced_it_all
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I think the best way to go about it (sorry, I know someone else said something similar but I don´t remember who) is to simply answer the cold calls by telling them right at the beginning - "Before you go any further, can you give me your web page." When you got that ask them "Now what is your broker license number (or FSA registration when they tell you they are just an "advisor")". Then if they haven´t hung up yet, ask them "Is this a restricted stock or Regulation S or D stock?"
I can´t imagine too many boiler room brokers still on the phone after that. You can also play around with them by asking, "What is your direct line, I will call you right back" because they will all have a phone service and will not give out their direct line. (some may so I wouldn´t use it as a reason to invest either)
The funniest one I recommend to throw them off is ask them "What street is the closest McDonalds to you on?" The reason I think it is funny is because most of the guys freeze up like deer caught in headlights. There is a McDonalds everywhere! But since the guy is probably calling from Thailand and saying he is in Switzerland, he probably won´t be ready to answer that. He can go Google it and come up with an answer (and I hate to post it because I know people who run the boiler rooms are on here looking for tricks and I hate to give that one away).
Probably best to just stick to the basics anyway.
I can´t imagine too many boiler room brokers still on the phone after that. You can also play around with them by asking, "What is your direct line, I will call you right back" because they will all have a phone service and will not give out their direct line. (some may so I wouldn´t use it as a reason to invest either)
The funniest one I recommend to throw them off is ask them "What street is the closest McDonalds to you on?" The reason I think it is funny is because most of the guys freeze up like deer caught in headlights. There is a McDonalds everywhere! But since the guy is probably calling from Thailand and saying he is in Switzerland, he probably won´t be ready to answer that. He can go Google it and come up with an answer (and I hate to post it because I know people who run the boiler rooms are on here looking for tricks and I hate to give that one away).
Probably best to just stick to the basics anyway.
I've been called by Mr. John McCann
I've been contacted by Mr. John McCann of McMillan Fine Intel in Barcellona, Spain. His number is 0034-933063417. I'm convinced he is a scam artist. He declined to talk further when I answered his question that I work within law enforcement circles. I've never seen a slick-talking salesman back-peddle so quick in my life. It was as if I had H1N1 and sneezed on him. Cheers, Bill
I've been contacted by Mr. John McCann of McMillan Fine Intel in Barcellona, Spain. His number is 0034-933063417. I'm convinced he is a scam artist. He declined to talk further when I answered his question that I work within law enforcement circles. I've never seen a slick-talking salesman back-peddle so quick in my life. It was as if I had H1N1 and sneezed on him. Cheers, Bill
You'll most likely never hear from him again, if you sound like youre suspicious of them or mention regulation/legal matter they seem to take fright. By the way http://www.my-nfl-tickets.com points to the same website. No business address on either website.
Also mentioned here http://www.trade2win.com/boards/brokerages/14154-boiler-room-scams-144.html
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experienced_it_all
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I am guessing WRBLACK works for one of the boiler rooms as well. He is just trying to eliminate his competition. For one, he just joined today and he says he is from the U.S. The boiler room he mentions (MFI) would not try to sell to a U.S. citizen (these restricted stocks are for non-U.S. citizens). Second, he used the phrase "Cheers", which is a U.K. greeting and people from the U.S. do not say that. Also, he mispelled Barcelona to give the effect that he is not familiar with the area (nice touch).
I could be wrong, but I doubt it (my apologies to mr.black if I am).
There are just as many snakes on here as there are out there.
Cheers mate!
I could be wrong, but I doubt it (my apologies to mr.black if I am).
There are just as many snakes on here as there are out there.
Cheers mate!
NIG Swiss trading and Financial Services www.nigswiss.com are the latest boiler room operating from Seefeldstrasse 69 Zurich. Regus.com are providing this office address. Other Regus offices with boiler room scams operating from them are 14 Rue Du Rhone and 18 Ave Louis Casai, both in Geneva
Tamandare Exploration
I was wondering what you think about Tamandare Exploration in terms of their SEC filings etc. Seems they're worth $14,000 according to the filings, is this typicalof a company that is going to be sold through a boiler room?
I'm not thinking of investing or anything, just interested in how this fits in with the general boiler room pattern.
I was wondering what you think about Tamandare Exploration in terms of their SEC filings etc. Seems they're worth $14,000 according to the filings, is this typicalof a company that is going to be sold through a boiler room?
I'm not thinking of investing or anything, just interested in how this fits in with the general boiler room pattern.
kenmar 1952
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Well pboyles, not a lot I can say really. I take it that NIG recommended Tamandare? You do know that Tamandare and NIG have the same address at Seefeldstrasse 69 and neither of them appear on google maps list of companies at that address? As to Tamandare SEC filings if you look at their first one it states clearly and repeatedly that this is a high risk venture and basically says you are virtually guaranteed to lose your investment. Maybe they are legit. Maybe they are being manipulated by shady brokers. Either way, it looks like a sure fire way to say goodbye to your money.
If there is any one out there who wants to invest in them I'll send my address and you can send me the money instead and I will guarantee you don't see it again, thereby removing the element of risk!! Sorry, couldn't resist that!
No I dont know who NIG Swiss recommend as I've never spoken to them. I noticed that Tamandare were operating from the same address as countless boiler rooms and was wondering how you would determine, based on their filings, that they were definitely a candidate for a boiler room.
I have since come across http://www.faqs.org/sec-filings/091105/TAMANDARE-EXPLORATIONS-INC_10-Q/ which states the following, which I thought was quite entertaining,
Tamandare has never generated revenues since inception and is unlikely to generate earnings in the immediate or foreseeable future. The continuation of Tamandare as a going concern is dependent upon the continued financial support from its shareholders, the ability of Tamandare to obtain necessary equity financing to continue operations, and the attainment of profitable operations. As of September 30, 2009, Tamandare has accumulated losses since inception. These factors raise substantial doubt regarding Tamandare's ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should Tamandare be unable to continue as a going concern.
experienced_it_all
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nigswiss.com created on 24-Oct.-2009. Enough said.
experienced_it_all
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I have seen companies that were sold through boiler rooms range from $15K to over a $1 Billion (in Market Cap. that is). But I think it is very rare if anyone can ever touch the company itself. Companies can use Regulation 144/S/D to sell restricted/non-registered shares and it is legal (pathetic huh?). It is the boiler room that does not give full disclosure and slickly slides the contract past participants that unaware of how these stocks work. Once you sign the risk agreement that states you can lose all of your money, it is pretty hard to go after the company you own shares in.
Here's a few more candidates for the boiler room hall of shame. Check out the Fennimore Capital office address on google street view, all 4 websites have the same content,
Fennimore Capital http://www.fennimorecapital.co.uk/index.php
Hess Zurich http://hesszurich.com/index.html
Esso Ventures www.essoventures.com/
Ashlay Asset Management www.ashlayassetmanagement.com
Fennimore Capital http://www.fennimorecapital.co.uk/index.php
Hess Zurich http://hesszurich.com/index.html
Esso Ventures www.essoventures.com/
Ashlay Asset Management www.ashlayassetmanagement.com
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kenmar 1952
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Medisys Corporation, Keystone Investment Group
Had another offer to buy Medisys Corp (MDYO), this time from Keystone Investment Group, a Mark Shepherd called me. Unfortunately this was my 4th cold call of the day and I was fed up leading these people on so I blew him off before I got full details from him. I think it must be the same boilerroom who offered me the same share in October (see post 1409 page 177) as they used the same reference to their "success" with Mosaic as last time. Found it difficult to track Keystone on google, I think there may even be a legit company of that name.
Whatever, obviously Medisys is scam of the moment.
Not to be confused with the UK company Medisys (MDY) which had been around for a while but is now MDY Healthcare and kept the same ticker symbol.
Just checked out Keystoneig.com. Per website copyright 2004, yet through whois.net find the domain name registered through Cheap-DomainRegistration.com on 5th Oct 09. Registered in Madrid, Spain! Also use Darwinig as their address and Darwin Investments is on the FSA unapproved list.
Say no more.
Had another offer to buy Medisys Corp (MDYO), this time from Keystone Investment Group, a Mark Shepherd called me. Unfortunately this was my 4th cold call of the day and I was fed up leading these people on so I blew him off before I got full details from him. I think it must be the same boilerroom who offered me the same share in October (see post 1409 page 177) as they used the same reference to their "success" with Mosaic as last time. Found it difficult to track Keystone on google, I think there may even be a legit company of that name.
Whatever, obviously Medisys is scam of the moment.
Not to be confused with the UK company Medisys (MDY) which had been around for a while but is now MDY Healthcare and kept the same ticker symbol.
Just checked out Keystoneig.com. Per website copyright 2004, yet through whois.net find the domain name registered through Cheap-DomainRegistration.com on 5th Oct 09. Registered in Madrid, Spain! Also use Darwinig as their address and Darwin Investments is on the FSA unapproved list.
Say no more.
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Whichypoohs
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Anyone heard of Guardmann Escrow Services in ummm Harley Street London lol????
Is this the jokes thread? Here's one.
Over the past 24 hours, I've
received 326 emails asking
for the date of our next stock
pick.
... Well, keep watching your
emails, because I'll be
sending you the exact date
of the pick VERY soon.
Here's a few snippets of the
emails I've received:
"What's the holdup?..."
"I'm on pins and needles
waiting for this..."
Well... The holdup is because
this stock pick is "a wolf in
sheep's clothing".
By studying the company
carefully... I've seen
something no other investor
has.
And when I spill the beans
on this... It's going to be
HUGE!
Best Regards,
John Meriwether
Over the past 24 hours, I've
received 326 emails asking
for the date of our next stock
pick.
... Well, keep watching your
emails, because I'll be
sending you the exact date
of the pick VERY soon.
Here's a few snippets of the
emails I've received:
"What's the holdup?..."
"I'm on pins and needles
waiting for this..."
Well... The holdup is because
this stock pick is "a wolf in
sheep's clothing".
By studying the company
carefully... I've seen
something no other investor
has.
And when I spill the beans
on this... It's going to be
HUGE!
Best Regards,
John Meriwether
kenmar 1952
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Guardmann Escrow Services S. A.
Offices in Panama, Hongkong & 29 Harley Street, London. Website registered 23rd March 09.
I would say this is a dodgy company.
Why do you ask?
What have you been offered that involves an Escrow company?
Offices in Panama, Hongkong & 29 Harley Street, London. Website registered 23rd March 09.
I would say this is a dodgy company.
Why do you ask?
What have you been offered that involves an Escrow company?
That address is being offered as a virtual office and it seems to have been used extensively for some sort of money laundering scam.
http://www.virtual-serviced-offices.co.uk/services_rendered.htm
http://www.bobbear.co.uk/finance.html
