Boiler Room Scams

Hi the above discussion is interesting but I've just been ripped off by a Boiler Room setup called 'Britannia Swiss Equities'. They sold me shares in a 'dodgy' company called 'BioDefense Corporation' in Boston. The Swiss people appeared legitimate (they had a website and gave an address in Zurich with a telephone number) but I indulged in several trades as they kept convincing me there was a sure fire profit. In my early trades at least I got some shares (probably worthless I now know) but I stupidly sent money for the last trade (£33,500.00) direct to a bank in Cyprus and heard no more about it - it was supposed to give a good deal on the dollar exchange. I see now their website has totally changed and shows a smiling girl instead of a more normal bank logo so presumably they have absconded with my money.
What I want to know is does anyone know this company and been ripped off by them? I assume the company has ripped off BioDefense Corp as well as they've kept the money instead of sharing it with them. Also is there any authority or body that might be worth approaching who could be useful to bring these people to justice or will they go on doing this for ever with impunity (FSA say they can't do much as it's outside the UK)?
 
I think biodefence are probably part of the scam, they have been mentioned here before. Brittania are on the Swiss Finma blacklist already so they have presumably ripped off many others as well. Remember not to get caught by other scanners offering to sort this out for you, they will just steal more of your money, if the banks and police can't help you then consider the money lost.
 
Last edited:
Hi the above discussion is interesting but I've just been ripped off by a Boiler Room setup called 'Britannia Swiss Equities'. They sold me shares in a 'dodgy' company called 'BioDefense Corporation' in Boston. The Swiss people appeared legitimate (they had a website and gave an address in Zurich with a telephone number) but I indulged in several trades as they kept convincing me there was a sure fire profit. In my early trades at least I got some shares (probably worthless I now know) but I stupidly sent money for the last trade (£33,500.00) direct to a bank in Cyprus and heard no more about it - it was supposed to give a good deal on the dollar exchange. I see now their website has totally changed and shows a smiling girl instead of a more normal bank logo so presumably they have absconded with my money.
What I want to know is does anyone know this company and been ripped off by them? I assume the company has ripped off BioDefense Corp as well as they've kept the money instead of sharing it with them. Also is there any authority or body that might be worth approaching who could be useful to bring these people to justice or will they go on doing this for ever with impunity (FSA say they can't do much as it's outside the UK)?

It is more likely that the "Swiss people" are less legitimate than BioDefense Corp. (which is a legit company from a legal standpoint, but run by shady characters who are only interested in taking your money and diluting the shares until they are worthless). I would bet you another 33K Sterling that those people were never in Switzerland but they had a virtual office (if that) and are probably in Thailand, Spain or where ever the new boiler room set up Country is. You can contact authorities and many people on here seem to be interested in doing that but you won't see any of that money again. They will come around again to try to "help you out" but that will just lead to more up front investment and more losses.

I could help you recover the money if you had €30K but it wouldn't be through any OTC or Restricted garbage stocks.

I would be amazed if one day someone took me up on my offer. Imagine what you guys would say if someone told you they took me up on it and I made them 3X's their money back. One day I will astonish you folks!



Always do right. This will gratify some people and astonish the rest. - Mark Twain
 
Actually I wouldn't be a bit surprised if a stranger sent you 30k, seems to be a lot of it going on.
 
Thanks PBoyles and Experienced it all. Actually you have both confirmed what I had feared myself. They never answered the telephone with a human (it was a legitimate Swiss number) and weird numbers came up as their phone number. The BioDefense people in the States answered the phone but are wanted everywhere over there for illegal share trafficking. They are forever putting off having the shares 'quoted' on a legitimate stock exchange. I'm in a total of £83,000 by the way. It just seems poor that international co-operation is so badI that there is no way of catching these crooks. By the way how could the police and the banks conceivably help?
Also how would you reliably double my money if not by a scam Experienced it all?
 
Thanks PBoyles and Experienced it all. Actually you have both confirmed what I had feared myself. They never answered the telephone with a human (it was a legitimate Swiss number) and weird numbers came up as their phone number. The BioDefense people in the States answered the phone but are wanted everywhere over there for illegal share trafficking. They are forever putting off having the shares 'quoted' on a legitimate stock exchange. I'm in a total of £83,000 by the way. It just seems poor that international co-operation is so badI that there is no way of catching these crooks. By the way how could the police and the banks conceivably help?
Also how would you reliably double my money if not by a scam Experienced it all?

You could get the police / banks / SEC involved and report them. This "might" help the next guy but chances are you wouldn't see any of your money again. They probably covered themselves pretty well in the contract you signed (I assume there was a risk disclosure that says you could lose all of your money - standard with any equities purchase).

In my opinion, if you want to get that money back, I would recommend forgetting about what happened completely (not to say not report them etc., but don't chase that money anymore, especially do not add any new funds to try and recover those old funds - "chasing after bad money with good money")

As far as doubling your money, I would say make 10X's your money or more, but do it over 5 years. It is the exponential growth that creates wealth. You might make 5X's your money off a good stock run in a month, but then you have to invest again and you might lose 5X`s your money - lots of up and down but it is not consistent.

I would suggest putting your money into working assets that are not based on speculation. That doesn't mean that there is no speculation in the investment and any investment that has extraordinary returns will have risk, but there are several ways to curb the risk ie. hedging, options, futures, etc. Also, make sure you are in a "protected" situation when it comes to dilution, pre-money, post-money and step-up valuations. Also, make sure you understand at what level your investment stands in the capital-ratios. When you are investing in a single company in public equity, you are totally at the risk of the market, up or down. You can hedge your position with futures/options/calls/puts etc.

I have personally moved mainly into real property (holding/developing physical assets, not paper) where I think there is the best possibility for prosperity (meaning continued extraordinary profits over the long-term, not just buy/sell and search again). Right now there are so many areas to make money in property as well because the market is highly deflated but you should understand there are big differences in future values between Property Syndicates, SPV`s, doing your own developments, REITS(which like a stock, you are at the risk of the market).

There are ways to invest money smartly where it is not just a one-time gain but several profits from one investment. I am not acting like I have a super-secret but I have experience investing for other people and each person has their own resources/needs/goals and it is just a question of finding the right system and personalizing strategies to fit that system.

Rather than being at so much risk, wouldn't you rather have a machine that made $1 into $2, even if it was a bit slower? I think this should apply to all smart investors.

Of course, this is just my opinion. I have a lot of friends/colleagues that basically day trade and I compare my investing in F (Ford Motor) @ under $2 and I have made more money than probably 9 out of 10 day traders, + I can easily hedge my profits.
 
Interesting post Experienced It All. Now I am not being cheeky or sarcastic, maybe ironic? but if I had a clue what you were talking about I would not be on this site but laying at my beach house in the Bahamas!
Joking aside, what you are saying is that there is money to be made out there, but first you must do your research and understand the implications of what you are getting in to. The problem with those reading this site is we went for the quick fix and didn't do our research, hopefully we have all learnt our lesson. The other problem is that I have spent my gambling money and now couldn't afford a good investment even if I knew of one!
Happy New Year.
 
Interesting post Experienced It All. Now I am not being cheeky or sarcastic, maybe ironic? but if I had a clue what you were talking about I would not be on this site but laying at my beach house in the Bahamas!
Joking aside, what you are saying is that there is money to be made out there, but first you must do your research and understand the implications of what you are getting in to. The problem with those reading this site is we went for the quick fix and didn't do our research, hopefully we have all learnt our lesson. The other problem is that I have spent my gambling money and now couldn't afford a good investment even if I knew of one!
Happy New Year.

With proper research, your beach house in the Bahamas might turn out to be one of your best investments! :D

But yeah, research and understanding the whole, not just the parts. Some people sell short because they think a stock will fall, others use it to cover long positions. Some people buy $ because they think the € will decline, others have an international business and want to secure profits/costs. How you use the tools depends on your knowledge but mostly depends on experience. I had formal studies in finance but that just taught me the rules, many years of experience taught me how to play the game. Just like I know which hands win in poker, I would get crushed by a professional poker player because I don't have the experience of seeing how people play the hands over and over.

I think everyone wants the quick buck, "Who wants to be a millionaire?" in an hour, and everyone gets caught up in their emotions one time or another. The key is what you do about it if you make that mistake. Keep this in mind - There are no failures, only learning experiences. If you learn and move on, you will be fine. If you keep making the same mistakes, you will go insane (and maybe broke!).

Like you say, the people who come on here have usually already made the mistake, that is why I tend to lean toward recommending focusing on the future (rather than getting caught up in all the authorities and staying focused on the past investment that was lost). I think what you do with your next dollar is much more important than what is happening with your lost dollars.

Anyway, I don't mean to rant.

Happy New Year! I wish you all a great new decade of investing.
 
Cany open the link for some reason

Thread is gone, probably deleted as I reported the posts. 2 new users were pumping a pink sheet stock called Plateau Mineral Development (PMPD). It had all the hallmarks of a boilerroom operation.
 
You could get the police / banks / SEC involved and report them. This "might" help the next guy but chances are you wouldn't see any of your money again. They probably covered themselves pretty well in the contract you signed (I assume there was a risk disclosure that says you could lose all of your money - standard with any equities purchase).

In my opinion, if you want to get that money back, I would recommend forgetting about what happened completely (not to say not report them etc., but don't chase that money anymore, especially do not add any new funds to try and recover those old funds - "chasing after bad money with good money")

As far as doubling your money, I would say make 10X's your money or more, but do it over 5 years. It is the exponential growth that creates wealth. You might make 5X's your money off a good stock run in a month, but then you have to invest again and you might lose 5X`s your money - lots of up and down but it is not consistent.

I would suggest putting your money into working assets that are not based on speculation. That doesn't mean that there is no speculation in the investment and any investment that has extraordinary returns will have risk, but there are several ways to curb the risk ie. hedging, options, futures, etc. Also, make sure you are in a "protected" situation when it comes to dilution, pre-money, post-money and step-up valuations. Also, make sure you understand at what level your investment stands in the capital-ratios. When you are investing in a single company in public equity, you are totally at the risk of the market, up or down. You can hedge your position with futures/options/calls/puts etc.

I have personally moved mainly into real property (holding/developing physical assets, not paper) where I think there is the best possibility for prosperity (meaning continued extraordinary profits over the long-term, not just buy/sell and search again). Right now there are so many areas to make money in property as well because the market is highly deflated but you should understand there are big differences in future values between Property Syndicates, SPV`s, doing your own developments, REITS(which like a stock, you are at the risk of the market).

There are ways to invest money smartly where it is not just a one-time gain but several profits from one investment. I am not acting like I have a super-secret but I have experience investing for other people and each person has their own resources/needs/goals and it is just a question of finding the right system and personalizing strategies to fit that system.

Rather than being at so much risk, wouldn't you rather have a machine that made $1 into $2, even if it was a bit slower? I think this should apply to all smart investors.

Of course, this is just my opinion. I have a lot of friends/colleagues that basically day trade and I compare my investing in F (Ford Motor) @ under $2 and I have made more money than probably 9 out of 10 day traders, + I can easily hedge my profits.

Thank you so much for taking the time to advise; it is much appreciated. My dad's money has gone - no doubt about that. But serves him right for being such a fool really (n)

I'm going to do some study; might invest here and there in the future, however, as yet I don't know enough about it. :)
 
Last week a placed an ad on Craiglist, I wanted to sell a book on Trading, next day I got a email from someone with a high secret stock pick. What a scam, to bad I already deleted his email.
You have to be so carefull now a days, can't trust no body anymore....
 
Thank you so much for taking the time to advise; it is much appreciated. My dad's money has gone - no doubt about that. But serves him right for being such a fool really (n)

I'm going to do some study; might invest here and there in the future, however, as yet I don't know enough about it. :)

If you want help let me know. I have learned this isn't really a good place for advertising services but it is my profession and I can give you practical and generative advice. I also have the resources to work independently so you don't have to worry about being scammed (meaning you can use your own account or online brokers).

In my experience it is best that you learn from someone who can teach you how to learn. That is why I mention generative advice, so your not just investing in certain areas but you also take away the knowledge of how those investments work and you can apply them to any stocks/companies/other financial tools in the same or related industries. In my opinion, it is better than trial and error because you can protect yourself before you incur a loss.

With my clients, I always use the approach "If you give a man a fish... if you teach a man to fish...". That way, when things work out well it comes back around to me. This is why I can't understand these con-artist and stock scams because the hardest part of getting new business is forming the relationship and if I am in any business (with any business sense), why do I want to ruin the relationship when that is where all the hard work is??? A few decent returns on the original investment should make the consultant more money over the long run plus keep the relationship/repeat/referral business (which is the best part of the business!).
 
Anyone any idea why I cant view links and posts?

I get this message.

"vivacook, you do not have permission to access this page. This could be due to one of several reasons:

Your user account may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation"
 
Top