Boiler Room Scams

[wow2403]

Be aware: new boiler rooms!
Keep off, if they phone you, stop the communication, cold calling!
relax-investments.com (Origin Hong Kong)
FMGGlobalFX.com (Origin Panama)
If you invest money, it´s gone!
Be aware!

 

[Ken Pidgeon]

Re: Phoenix Capital Partners

How detailed would you like? Full story would take many posts. Very briefly...
First dealt with them in 2004 following recommendation from a long time friend who invests all the time. Naively invested in the company Technology Assets (TNGA) who were running a Ukrainian Brick Mill. Sent money to K R Margetson in Canada. Was introduced to Jody Consulting who 'worked closely' with Phoenix. Was offered many other shares such as EMI, KATY, YASHENG, HUMLOG and ANGLO SWISS.
2005 -Was contacted by Cross Border Arbitrage about selling out of TNGA. Never happened.
2006 - Phoenix admited Saxena link but insisted that they had been done as much as the shareholder. Heard from TNGA CEO Jim Brown based in the Ukraine. Researched him and spoke to him (a number of times) and seemed above board. Promised that my investment would be honoured. Instructed by Jim Briown, I wrote to Candian mounted police and sent all details about the 'fraud'. No response.
2007 - Phoenix 'swap' me (for free) into PHX Holdings as long as I make a small investment in Texas Holdings (TXHG). Researched this and seemed OK. Wrong! Jim Brown again assures me that TNGA investment will be honoured.
2008 - PHX swap is not 'free'. My contact at Phoenix 'moves' to company Specialized Risk Solutions is still in the same building. Offered other investments through Phoenix associates Global Micro Cap supposedly in UK. My research draws a blank.
PHX are linked with Laipac Africa and huge amounts of data start coming though.
2009 - Promised dividends never arrive. Asked for money to help 'activate' PHX holdings - ignored. Asking becomes demanding. Ignored. Jim Brown is still going but has started building recycling plants.
2010 - Offer of $0.32 per share arrives today.
If any one is interested in the detail then let me know,

Your situation is similar to ours, so more detail would be appreciated.
Ken

 

[pboyles]

That is a shocking example of how these crooks bleed people dry. I've heard of people losing all their money on these scams and then mortgaging their house to try to 'make it back' on the next big chance they're offered. If you lose money to a boiler room scam then realise it's gone forever, never try to make back your losses with another 'investment'. Remember these are criminals not brokers, their only aim in life is to steal your money.

 

[karl_99]

Karl99

Are you in the UK? If you are I have a suggestion for you.

I am based in the uk and I recieved a call yesterday on my home phone. Not a contact number I have ever used when dealing with them. A guy named Rob Mellor has requested a call back but the american number never seems to work. Do you have an Idea of the area code or something. The number that does not work is 617 778 1800.

I realise the company has never been listed the shares were sold to me on a basis that they will be going live in the next 3 months and that was over 2 years ago. It seems that they are either keeping all the money building interest on it. Or have done a runner with it. I still have all the documentation and it seems that all the money is spent rather than making the shares go live they are doing what the bankers are doing and giving themselves chunky bonuses. Any advice would be appreciated. Thanks

 

[karl_99]

That is a shocking example of how these crooks bleed people dry. I've heard of people losing all their money on these scams and then mortgaging their house to try to 'make it back' on the next big chance they're offered. If you lose money to a boiler room scam then realise it's gone forever, never try to make back your losses with another 'investment'. Remember these are criminals not brokers, their only aim in life is to steal your money.

I appreciate your honesty. Either way if they are criminals they have to be stopped. The money has to be somewhere and there are bank transfers which should be traced quite easily if the correct investigations take place. The police wont help me with this type of complaint or report there is always a way to get back the money or taking the company to court for 'Negligence' acting like they do not know what is happening is a lie and they should be taking the appropriate steps to prevent these companies from selling on behalf of them. Afterall if they want this business to work all of this bad press will prevent any future investment and the company will go under. I am looking for the right place to turn to get the answers I need and take the appropriate steps. I am currently savinf to take a trip to boston and seeing them in person maybe even taking a lawyer with me when this happensn even if this is 10 years from now I will catch them out. My feeling is they are not even in boston but unless I go there I will never know.

 

[anley]

Karl, bankers are often legal thieves but you haven't been dealing with them. Sadly you have been conned by a load of boiler room thieves and your money has long since disappeared. The shares you 'bought' are worthless, and they've always been worthless.

Please learn your lesson and don't get involved in things you either don't understand or are unwilling to investigate properly.

 

[anley]

karl, chances are they're in the Far East. Go to Boston and you'll probably find a mail drop, if that.

Everything you've been told is lies and the scammers know what they're doing so the bank accounts they use are designed to be shut down eventually, but before that time the money will have been wired out and then wired to other accounts in other countries and so on. Basically making it almost impossible to chase.

 

[pboyles]

I appreciate your honesty. Either way if they are criminals they have to be stopped. The money has to be somewhere and there are bank transfers which should be traced quite easily if the correct investigations take place. The police wont help me with this type of complaint or report there is always a way to get back the money or taking the company to court for 'Negligence' acting like they do not know what is happening is a lie and they should be taking the appropriate steps to prevent these companies from selling on behalf of them. Afterall if they want this business to work all of this bad press will prevent any future investment and the company will go under. I am looking for the right place to turn to get the answers I need and take the appropriate steps. I am currently savinf to take a trip to boston and seeing them in person maybe even taking a lawyer with me when this happensn even if this is 10 years from now I will catch them out. My feeling is they are not even in boston but unless I go there I will never know.

These guys are expert liars, I wouldn't waste my money going to Boston only to be told more lies, that's not getting you anywhere. These companies are all set up for the purposes of running share frauds so forget about brokers and businessmen and start thinking in terms of criminals and fraudsters.

Did you see the guy who posted last night saying he used to work there? He said they only ever sold a couple of machines. It's not a viable business it's just a front.

What I was going to suggest you do is raise hell about it here in the UK. Did you notice that a member of the house of lords is acting as an advisor to them (name escapes me but I will post it later)? I think you can bring pressure to bear using that angle and it won't cost you a penny. Send me a private message and I will give you more details.

 

[pboyles]

Karl

It is General Lord Guthrie who is involved with them. Prior to this press article I know for a fact that he was warned twice, in writing, that the company he was advising was defrauding UK investors.

I think this is where you should start, not wasting your money on flights or lawyers. Have you MP take this up.



http://www.dailymail.co.uk/money/article-1309016/FSA-launches-BioDefense-shares-probe.html

 

[karl_99]

Karl, bankers are often legal thieves but you haven't been dealing with them. Sadly you have been conned by a load of boiler room thieves and your money has long since disappeared. The shares you 'bought' are worthless, and they've always been worthless.

Please learn your lesson and don't get involved in things you either don't understand or are unwilling to investigate properly.

Hi Anley,

I appreciate your comments but feel they are a little patronising. I dont feel i should sit back and accept it thats the reason they get away with it. I believe your comment is a bit harsh and not very constructive. I have learned a lesson but I am not the one that has a lesson to learn they are. And I am willing to investigate properly it is going through the right paths which is why I am looking for advice and hope not to just hear its over as long as im breathing it is not over. Its not just me and there are millions of pounds be conned out of people if enough people make themselves heard something will have to be done.

 

[pboyles]

Last nights post from ex biodefense employee

http://www.trade2win.com/boards/first-steps/114466-again-bio-defense-corp-scam-3.html

 

[pboyles]

Hi Anley,

I appreciate your comments but feel they are a little patronising. I dont feel i should sit back and accept it thats the reason they get away with it. I believe your comment is a bit harsh and not very constructive. I have learned a lesson but I am not the one that has a lesson to learn they are. And I am willing to investigate properly it is going through the right paths which is why I am looking for advice and hope not to just hear its over as long as im breathing it is not over. Its not just me and there are millions of pounds be conned out of people if enough people make themselves heard something will have to be done.

Karl

Boiler room fraud costs the UK £200 million a year, and thats only what's reported. You can see it's a massive problem. The only hope is to educate people not to fall for it, which is what we are trying to do here. I know you want to go to Boston and give them a piece of your mind but they couldn't care less. Eventually this biodefense thing will be exposed but I doubt very much if people will get their money back.

Look at the following site at a few pump and dump scams and you will see that fraud is endemic in the industry.

Www.thestreetsweeper.org

Like I said work on it from the angle of the UK advisor and see where it gets you.

 

[karl_99]

Karl

It is General Lord Guthrie who is involved with them. Prior to this press article I know for a fact that he was warned twice, in writing, that the company he was advising was defrauding UK investors.

I think this is where you should start, not wasting your money on flights or lawyers. Have you MP take this up.



http://www.dailymail.co.uk/money/article-1309016/FSA-launches-BioDefense-shares-probe.html

I do not no my MP and am concerned he will want nothing to do with this situation. Are you from the UK do you know of an MP that might help rather than just my local MP. As this is bigger than just me im hoping there maybe someone outthere already clued up on this situation.
Thanks

 

[pboyles]

I do not no my MP and am concerned he will want nothing to do with this situation. Are you from the UK do you know of an MP that might help rather than just my local MP. As this is bigger than just me im hoping there maybe someone outthere already clued up on this situation.
Thanks

So you'll fly to Boston on a wild goose chase but you cant be bothered to find out who your MP is?

 

[pboyles]

Just put your postcode in

http://www.theyworkforyou.com/

 

[kathleenleon]

Hi,I have been conned by a company who cloned a web site RBEF-Limited. I have reported this to Interpol etc. The person introduced himself as Andrew Blake,refers you to website then rings back selling Centamin Egypt shares. Then a Jack Eastman follows up the call. The web site is taken down but they are still ringing people. The share cert is false ,the bank a/cs are Singapore and Hong Kong. Hope this helps save others

 

[anley]

Hi Anley,

I appreciate your comments but feel they are a little patronising. I dont feel i should sit back and accept it thats the reason they get away with it. I believe your comment is a bit harsh and not very constructive. I have learned a lesson but I am not the one that has a lesson to learn they are. And I am willing to investigate properly it is going through the right paths which is why I am looking for advice and hope not to just hear its over as long as im breathing it is not over. Its not just me and there are millions of pounds be conned out of people if enough people make themselves heard something will have to be done.

karl, I'm being cruel to be kind here trying to make you understand that it's a bad bad world out there. If you realise this from now on then the money you've lost will have been a good investment.

Almost every company right now, legit or no legit, including most of the big ones has trickery/lies/maybe even outright fraud as part of their business model, trying to con us all out of ever more money. Even the big supermarkets do this, for example their latest trick is to often sell single packs/cans etc cheaper than multiple packs. Buy 4 x tin of beans is often cheaper than buying a 4 pack. Very easy to fall for this as we've all been programmed to think buying in bulk is cheaper, that's why they play this trick.

As for trying to find the scammers then sure, anything's possible but how exactly, you don't know any of their real names and never knew where they were calling from.

The company you bought probably knows nothing about the scammers, they just used the company's name as an idea to sell (probably) non-existant shares. Why sell you legit shares when all the scammers wanted to do was steal your money.

But say you make it your life's mission to find them. If so I'd recommend you take at least 1 year off work and are willing to spend £25k minimum, possibly £50k+. Say you do find them, then what? Are you going to sue, if so where and if it's in the UK will they actually turn up for court if they're based in the Far East. If they are in the Far East chances are they're paying off the local police for intel. Another option is violence but that then makes you a criminal. Plus you might have to take the voilence to the streets of Bangkok where you can be 100% sure the scammers have done deals with the cops, then you'll probably be shaken down by the police before being thrown in jail.

All I'm trying to dfo is make you aware of your enemy, and in this case you don't even know who the enemy is or where they are.

 

[Aggie]

My husband has some pink sheet American shares that he hopes to be able to sell, He was wondering if anyone could recommend a legit stock broker in the US, to see if it is possible to sell them. The shares are Regulation S 144 shares, so they will have to have restictions removed before they are sold.Hoping for a favourable reply.
Aggie

 

[multiform1]

My husband has some pink sheet American shares that he hopes to be able to sell, He was wondering if anyone could recommend a legit stock broker in the US, to see if it is possible to sell them. The shares are Regulation S 144 shares, so they will have to have restictions removed before they are sold.Hoping for a favourable reply.
Aggie

I had a word with my US Broker - He confirms that these shares may be valuable or they may be worthless. However he can tell you either way, and whether the restriction can be lifted which he is able to organise.
I have been a client of this firm for 3 years, and a client of this broker for 6 months. I believe that he is honest.The Firm is legit, SEC approved, but not FSA authorised - I dont think many US brokers are.
But as always, be careful.
If you email him he is prepared to help.
His name is Jae Kim. He is a senior broker at E! Asset Management, 44 Wall St.
email: [email protected]

 

[wow2403]

I'm afraid yours is a familiar story, many people have been ripped off by boiler rooms selling Biodefense shares, it has made the press several times as well. To date Biodefense has not even been listed on a stock exchange.

Bigbrains who was posting here supporting the company actually works for them. He is a convicted criminal and crack addict, you'll not be too surprised to hear he was convicted of securities fraud. Biodefense would have you believe they have nothing to do with these boiler rooms but you can be sure they are very closely linked.

Hi Pboyles,

Can you proof Bigbrains is working for Biodef? Thanks.