Boiler Room Scams

[sheila302]

Re: Linsure Holdings

Thought so, thank you.

Yes it's a scam, they'll take your money and disappear.

 

[amacky]

Please include FXCM, be aware of their spikes and false stop order executions, I have started a major complaint with authorities in UK, and in the process of gathering evidence, if you have any bad experience with fxcm , do let me know please

I think it would be useful to set up a thread listing all the Boiler Room Scams that are currently in operation.

What is a boiler room?

Basically, a room full of salesmen (con men really), who are unregulated, and will cold call you to try and tempt you to part with your money and invest in some "amazing" company which will make you a millionaire. The stocks are usually unlisted and therefore difficult to sell once you have bought them. In reality they are likely to be worthless.

They tend to target people who already own shares, and will get your phone number / contact details from lists that they have bought, including shareholder lists.

More often than not, they are based overseas.

Whatever, you should NEVER deal with them, and NEVER deal with anyone who cold calls you from a company who you have never dealt with before.

I hope that this thread will be used for people to list the names of the offending companies, in order to warn others.

To start with, here is a list of those already mentioned on other threads....

Portland Ventures

Elliott Price

Edward Tate

Capital Asset Commodities

Jefferson Holt Consulting

Please feel free to add any more.....

 

[pboyles]

Please include FXCM, be aware of their spikes and false stop order executions, I have started a major complaint with authorities in UK, and in the process of gathering evidence, if you have any bad experience with fxcm , do let me know please

The big issue that FXCM don't want you highlighting is that they were fined $20 million in the US for ripping off US clients. They were not fined by, nor did they have to compensate customers from, other countries. So unless they only ripped off people from the US (highly unlikely) then they are still liable to legal action in other countries. Of course in some countris like the UK there is no interest in investigating them, unless of course someone starts complaining.

 

[amacky]

I have started today a major campaign to complain and gather evidence for SFA and may be a further legal action,if any one like to join me and supply personal evidence for trading account with FXCM which prove that they are intentionally cheating their live account customers, by way of spikes or slippage please contact me on my private email
[email protected]

The big issue that FXCM don't want you highlighting is that they were fined $20 million in the US for ripping off US clients. They were not fined by, nor did they have to compensate customers from, other countries. So unless they only ripped off people from the US (highly unlikely) then they are still liable to legal action in other countries. Of course in some countris like the UK there is no interest in investigating them, unless of course someone starts complaining.

 

[pboyles]

What I'm trying to tell you is that they have been fined for their slippage practices already. More specifically they were applying asymetrical slippage to accounts, they were passing on all negative slippage but keeping all positive slippage. That is what they were fined for. Therefore all you have to establish is whether they did this to your account or indeed other accounts outside the US. They have not been punished for that or had to repay those customers. If you ask them about this they will refuse to answer.

 

[anley]

they were passing on all negative slippage but keeping all positive slippage

Did FXCM get an "Award" for that, perhaps the -

BEST ONLINE FX BROKER FOR RIPPING OFF THEIR CLIENTS WHILE DOING THEIR BEST TO HIDE THE FACT

 

[amacky]

Thank you for the info. my case is based in UK and if you have a reference to the fine that I may look it up, I will be grateful

What I'm trying to tell you is that they have been fined for their slippage practices already. More specifically they were applying asymetrical slippage to accounts, they were passing on all negative slippage but keeping all positive slippage. That is what they were fined for. Therefore all you have to establish is whether they did this to your account or indeed other accounts outside the US. They have not been punished for that or had to repay those customers. If you ask them about this they will refuse to answer.

 

[wackypete2]

This is interesting. If you type "Fisher Capital Management Scam" the first few results are all their own domain name about safety and reviews but this thread does appear in the middle of the page.

Peter

Quick follow-up on Fisher Capital Management Scam
This same google search today shows this thread has been bumped to page 6. These guys are hard at work posting on every site they can find including many of their own. Regular posting to the facebook account Fisher-Capital-Management-Scam-Safety-and-Reviews keeps that post as number 1 in the search and of course it never mentions Fisher Capital Management and doesn't even talk about scams at all.

This is about as glaring a red flag as you could possibly find.

Peter

 

[pboyles]

Thank you for the info. my case is based in UK and if you have a reference to the fine that I may look it up, I will be grateful

Google 'FXCM fined by NFA' and 'FXCM fined by CFTC'. If you can't figure it out from that I'd give up.

 

[amacky]

Google 'FXCM fined by NFA' and 'FXCM fined by CFTC'. If you can't figure it out from that I'd give up.

Yes I managed to get that, and a little bit more, found a very interesting story

FXCM slapped with a class action suit over claims of fraud and racketeering | Forex Magnates

 

[anley]

Quick follow-up on Fisher Capital Management Scam
This same google search today shows this thread has been bumped to page 6. These guys are hard at work posting on every site they can find including many of their own. Regular posting to the facebook account Fisher-Capital-Management-Scam-Safety-and-Reviews keeps that post as number 1 in the search and of course it never mentions Fisher Capital Management and doesn't even talk about scams at all.

This is about as glaring a red flag as you could possibly find.

Agree, and it's a great new ANTI BOILER ROOM SPOTTING TACTIC.

Search the company's name on Google, go through pages 1-10 and LOOK HARD AT THE LINKS AND THEN THE PAGES OF THOSE LINKS.

If you come across a blizzard of crap, useless sites, copy/paste content of very limited quaility then 100% YOU ARE TALKING WITH A BOILER ROOM THIEF OF A COMPANY. No ifs and no buts.

Or put it another way, think of a legit financial firm, one in your own country that's regulated. Do you think it tries to flood Google with 101 useless links and pages? Or does it let its website andbusiness stand on its own..........

YOU'VE BEEN WARNED - STAY AWAY FROM Fisher Capital Management THEY ARE SCAMMERS AND THIEVES. Read this thread, go back about 1-10 pages and see how they stole a lot of money from one poor Aussie.

Ask questions here if you'e UNSURE ABOUT ANYTHING. We'll help keep your money safe.

Also report the names of any scam boiler room operations here, Google loves this thread and it realy pisses the thieves off when one of their potential marks finds out that the 'charming, nice broker' he's talking to is nothing but a lowlife thief and conman...........Want proof, next time you get a call from one, call him a thief, call him a conman, then see how he gets taken aback, these conmen really hate it when you remind them what they are :cheesy:

 

[I-Hate_boiler_rooms]

Quick follow-up on Fisher Capital Management Scam
This same google search today shows this thread has been bumped to page 6. These guys are hard at work posting on every site they can find including many of their own. Regular posting to the facebook account Fisher-Capital-Management-Scam-Safety-and-Reviews keeps that post as number 1 in the search and of course it never mentions Fisher Capital Management and doesn't even talk about scams at all.

This is about as glaring a red flag as you could possibly find.

Peter

Found on 'Hanging on the phone' at An Englishman in Dubai Blog:

Just saw an interesting post on The Motley Fool board:-
SEC revokes license of suspected boiler room
http://www.abs-cbnnews.com/business/01/15/12/sec-revokes-lic...
MANILA, Philippines – The Securities and Exchange Commission (SEC) has revoked the operating license of First Asia Client Depository Services Inc. (FACDS) for fraud committed in the procurement of its registration certificate. (Mentions George Spencer)
“My insider in the boiler room says that this is an operation connected to David Gilinsky aka “George Spencer” and that he’s running two other boiler rooms in Makati in the Philippines.
Does anyone else recognise the names?”
posted by JakNife
In answer – yes JN – I recognise that name. Gilinsky is a former Manila Hotel head chef who has come across “unexplained wealth” in the past few years since moving to the Philippines – no doubt from the likes of Eldora Gold/ Amazon Gold/ Fisher Capital/ Shaw Capital/ Strathclyde & Associates etc etc.
Gilinsky also heads up a Art Foundation called the Kalinawa Foundation which is at Gilinsky’s offices :-
Suite 1607
Tower One & Exchange Plaza
Ayala Triangle
Ayala Avenue
Makati City 1226
Philippines
Voice: (632) 759 – 3682
Facsimile: (632) 759 – 3681
E-mail: [email protected]
There are a number of businesses running from the same office – yes all linked back to laundering money and financial businesses.
Now funny old thing this but if you compare George Spencers voice to that of Gilinsky you can’t tell the difference and if you look closely voila – George Spencer = David Gilinsky. So if you have been scammed……and you probably have by a boiler room especially one of the ones named – they are all run by Gilinsky & co (a group of Philippinnes residents). Gilinsky speaks like a Canadian who only left Canada yesterday and a bit of homework on this dubious character reveals a wealth of information.
One thing is for certain – he is not difficult to find and a good starting point if you have lost money to a boiler room especially one you suspect runs out of Manila…..
Talk about running with the hares and hunting with the hounds……sic em.
see http://www..kalinawa.com for a good set of instructions on exactly where to find this character. He deserves everything he gets coming to him – ……..

Well done I'd say
JSmile

 

[anley]

Here's another good tip to spot a boiler room thief - what's the name of the person calling you, if it's 'grand' such as George Spencer then 99% chance you're talking to a thief and a conman. He's only being nice to you so he can steal your money, hence the lowlife tag - at least a mugger snarls and puts a knife in your face.

The Boiler Room scammers, as many other types of scammers, all try to convince their marks they're rich, sophisticated, proper etc which is why they love flashy addresses, and old money type names for themselves and their scam firms.

YOU'VE ALL BEEN WARNED.

 

[boiler room basher]

Found on 'Hanging on the phone' at An Englishman in Dubai Blog:

Just saw an interesting post on The Motley Fool board:-
SEC revokes license of suspected boiler room
http://www.abs-cbnnews.com/business/01/15/12/sec-revokes-lic...
MANILA, Philippines – The Securities and Exchange Commission (SEC) has revoked the operating license of First Asia Client Depository Services Inc. (FACDS) for fraud committed in the procurement of its registration certificate. (Mentions George Spencer)
“My insider in the boiler room says that this is an operation connected to David Gilinsky aka “George Spencer” and that he’s running two other boiler rooms in Makati in the Philippines.
Does anyone else recognise the names?”
posted by JakNife
In answer – yes JN – I recognise that name. Gilinsky is a former Manila Hotel head chef who has come across “unexplained wealth” in the past few years since moving to the Philippines – no doubt from the likes of Eldora Gold/ Amazon Gold/ Fisher Capital/ Shaw Capital/ Strathclyde & Associates etc etc.
Gilinsky also heads up a Art Foundation called the Kalinawa Foundation which is at Gilinsky’s offices :-
Suite 1607
Tower One & Exchange Plaza
Ayala Triangle
Ayala Avenue
Makati City 1226
Philippines
Voice: (632) 759 – 3682
Facsimile: (632) 759 – 3681
E-mail: [email protected]
There are a number of businesses running from the same office – yes all linked back to laundering money and financial businesses.
Now funny old thing this but if you compare George Spencers voice to that of Gilinsky you can’t tell the difference and if you look closely voila – George Spencer = David Gilinsky. So if you have been scammed……and you probably have by a boiler room especially one of the ones named – they are all run by Gilinsky & co (a group of Philippinnes residents). Gilinsky speaks like a Canadian who only left Canada yesterday and a bit of homework on this dubious character reveals a wealth of information.
One thing is for certain – he is not difficult to find and a good starting point if you have lost money to a boiler room especially one you suspect runs out of Manila…..
Talk about running with the hares and hunting with the hounds……sic em.
see http://www..kalinawa.com for a good set of instructions on exactly where to find this character. He deserves everything he gets coming to him – ……..

Well done I'd say
JSmile

I am glad George has been nabbed, but George is certainly NOT canadian.. he is from Manchester area in the UK, accent is easlily detectable..
has anyone got an addresfor him, or his real phone number, many peaople would like to "speak" to him.

While I am here ..Also watch out for the latest scam company .. Amazon Gold Ventures.. came registered address as Solamon energy corp.. another scam company set up in Canada and listed on the Frankfurt exhange.. those guys in Frankfurt need to get their act serioulsy cleaned up!!

 

[F-Y-3x]

Do you have a ear for accents? I've got some voice records of some boiler room people.

I think these Amazon Gold Ventures are from the same network as Keizai Group, which are cheating around.

 

[bgates4000]

Are they connected to First Prime Asia?

 

[boiler room basher]

Do you have a ear for accents? I've got some voice records of some boiler room people.

I think these Amazon Gold Ventures are from the same network as Keizai Group, which are cheating around.

Yes, I have a very good ear for accents!! please let me know how I can get these from you so I can listen to them.

A lot of thse boiler rooms are connected, either formally or informally. I know now that Fisher Capital Managment have at least 5 police forces on the their tails... Canadian, French, UK and Singapore, also the Korean police will be involved as from tomorrow!! interpol are also involved.. I will not be long now before they are behind bars!!

 

[anley]

Yes, I have a very good ear for accents!! please let me know how I can get these from you so I can listen to them.

A lot of thse boiler rooms are connected, either formally or informally. I know now that Fisher Capital Managment have at least 5 police forces on the their tails... Canadian, French, UK and Singapore, also the Korean police will be involved as from tomorrow!! interpol are also involved.. I will not be long now before they are behind bars!!

Couldn’t happen to a nice bunch of scum.

And that's the problem all you boiler room thieves reading this, you never know when that KNOCK on the door is coming, or perhaps when you fly back into the UK (assuming you're British) the Police are ready to pull you aside for 'words' which normally lead to a pair of handcuffs.

Then, IT ALL COMES OUT. All the lies you've been telling your friends and family COME OUT. Your name all over the papers, your parents ashamed at their thief abd conman of a son.............

My advice is simple, stop the lies, come clean, shop your work colleagues before they shop you, stop ruining lives, then get on with yours. Good luck, the choice is yours, handcuffs and humiliation or the chance to do something right.

 

[boiler room basher]

The city of FSA (UK) have had about 20 cases filed with them against Fisher, now they are also counting the cases from Shaw capital, Strathcylde and Trent.. it is over 100! the City of London police have now taken over... not long to wait for justice .. The FSA togehter with several other forces put behind bar several boiler room operators last year.. One thing can be said for the UK police, once they take on a case, someone will get time, its just a pity that initiallly they are slow on the uptake.. I wonder what the police would do if someone was robbing UK banks of billions per year??? there would be hell to pay if they were as slow to respond as they do to boilwer room crime. Police forces of the world.. unite against boiler rooms! what is needed is a rapid reaction team to take them out as soon as they appear, this crime is costing genuine industry and commerce billions, not millions, BILLIONS of pounds each year.

Come on police.. get your act together.. and politicians WAKE UP to this crime and its cost!!

 

[boiler room basher]

Here is a good list of brokers and trading firms

:: Strategybox::

At this moment we are focusing on catching boiler room operators... if anyone can give me an approaximate location for Fisher Capital managment, Shaw capital, strathclyde captial, then the Philipinne poilce has lots of evidence passed by "clinets" to put them in jail.. please let me know if you have an operational location for these boiler rooms.. send it to [email protected] I will pass it on to the 5 police forces that are chasing them