Boiler Room Scams

[Aquarius]

Further to my note earlier, checking with the SEC ( American Securities & Exchange Commission) has confirmed that Nelson Financial are not registered for Investment purposes in America and neither are they located in Houston. This is almost certainly a scam. The trouble is that these fraudsters look almost genuine, but what they cannot do is fake a registration with the authorities. Hope no-one else has been caught in their web.

 

[harryhound]

It is good to see hear that the UK authorities are belatedly waking up to the scale of "boiler room" fraud.
Listen here for the City of London police asking you to shop these gangsters:

http://www.bbc.co.uk/radio4/youandyours/listenagain/wednesday.shtml (available for the next week)

FRAUD & CORRUPTION COULD EASILY REDUCE OUR WAY OF LIFE TO THAT OF A THIRD WORLD COUNTRY. MOSTLY HONEST FINANCIAL SERVICES IS ONE OF THE FEW THINGS WE HAVE STILL GOT GOING FOR US, AS THE OIL AND GAS RUNS DOWN IN THE N. SEA.

 

[Pippppin]

Interesting piece in the Times2 today written by somebody who worked undercover in a
Buenos Aires boiler room

THOUGHT FOR THE DAY
The fear of missing out is one of the most destructive of all human emotions

 

[ciera]

scams on phone

Hi CHa31,
Me too got call from Omega about 2 weeks ago with some other company that were going to go through the roof etc I have learnt now just to hang up, not heard of number 2 but they checked out with FSA and havent heard of number 3 either. I bought shares (restricted) about 2 years ago cannot sell them at all and am seriously angry at the fact I was never told about this restriction! Anyway they are worthless now and I have learnt, its a shame as Im sure the sotck market would be fun if it was rid of these a&%holes.

To all

Having been scammed a couple of years ago I get regular calls from what I suspect/know are boiler rooms. Here are the most recent attempts.

1. Omega Equity from spain www.omega-equity.com trying to tout northern lynx (NLX) (listed on AIM). Talked to Simon Carter

2. US kapitalanlagen from germany www.uskinvestments.com claim to have FSA number: 447032 phone: 00492212712080. trying to tout advanced medical institute (AVMD) (nasdaq). I don't know how dodgy they are and haven't checked with FSA but alarm bells were ringing.

3. And today I got a call from Newbridge international (they've been on this thread before). I was speaking with Harry Summers, this time they're touting inter security holdings (IXSV). www.ixsv.net. The phone call ended abruptly after I mentioned that he wasn't the first man with a northern accent to cold call me this week, touting US shares that are about to skyrocket.

Just thought I'd let people know as I think this thread is really useful and has probably saved a lot of doing something stupid, (like buying restricted shares in an ipo of a company that will never be listed...)

 

[SamWoe]

MobileMail Inc - www.mailsms.co.uk

An investment company based in Brussels contacted me, following an expressed interest in investments via the INTERNET. - Windsor DeBeir & Associates www.windsorda.com

Immediately let me say I've had NO contacts from Mobile Mail Inc. I've spent the last two days looking at them after a call claiming to be from this investment advisory organisation in Belgium + emails. This office checks out tel/emails.

First, it was the fact that the Brussels outfit advise guys like me.
Then 'By Thursday. We'll have the name of the company available. We've been following it for 2 years.'

Finally Thursday AM I was told about Mobile Mail . With additional information, I was able to check it out. Much pressure, many tel calls. It sounded from the background noise, as though the Belgium office was at it hammer & tongue.

However I will not personally be investing at this time in Mobile Mail inc. Based in London, on the American Nasdaq exchange from last Summer. My indepth research suggested this was not for me.

I noted these shares come under the 'penny shares' regulations (under $5). It may have been that in time - the required regulatory WARNINGS would have been presented by the advisors/compliance officers/ plus the offer/buying documentation - However I did not get to that point.

Certainly the lodged Nasdaq documents carry all the required information, plus much more depth also. A great deal to wade through! NASDAQ compliance requirements appear extremely strict.

MobileMail (US) Inc Code MBMU www.mailsms.co.uk. -
Offers software that is sure to expand dramatically.

Anyone else heard from Windsor DeBeir & Assoiates www.windsorda.com?

SamWoe

Not sure if it's been posted here before but heres another one to be wary of:
Atlantic Capital Management website www.atlantic-cm.com
Got a cold call from a Mr Frazier touting mobilemail website www.mailsms.co.uk.

According to Mr Frazier, I just missed out on this one moving from 10p to 101 in the last month, but if i get on now just before the "big corporates" get in he has an upper margin of over 300 for this stock, but being that this is our first time dealing together he would like me to invest £5000 to start with just so that he can show me how much money he will earn me ( i love that one), he will advise me when to sell, better still he will advise me to sell just before these mystical "big corporates" do, so that i can maximise my returns.
What a nice man.

 

[bob350]

Hi guys have any of you heard about cambridgecapitaltrading.com, uaecfb.com and dubaiex.com these companies are linked and yes they have cold called me yet again. I am only playing them thow this time
Bob

 

[pssonice]

cant get it, what s your story ?

signe for an account at one of severall market leaders and trade.

what s your problem ?

 

[bob350]

I was wondering if you have heards of these people and are they scamers

Bob

 

[thaji78]

I was wondering if you have heards of these people and are they scamers

Bob

Hi Bob,

I just checked out uaecfb.com and dubaiex.com :

1. being skeptical of anyone who cold calls you is the right thing to do from my experience.

2. I was going through their websites and what they were saying seemed kind of convincing except that I live in Dubai and I follow all local business news and I never heard of these two entities!

3. I switched to the Arabic version of the UAECFB.com website --> http://www.uaecfb.com/legal2/

and all it gave me was a very poor translation of a legal english document. Usually, the Arabic version of a legitamate UAE website is as good or better than the English version, not just a single page of rubbish. Seems like they used a primitive translation tool to make it look authentic for the Non-Arab speakers.

4. The "contact us" page has no landline number or physical address of these two entities.

My verdict: Keep clear of these two companies for now.

Regards,
Tareq

 

[looker1]

Useing a domain look up for Cambridge capital isnt telling us much as you can see below, and as Tareq says, the site is primitive with little contact detail, The UK address on there is a regis centre (virtual office) the only reason I know is I too lost money to someone claiming to be in that building.
My advice would be to stay away.



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I was wondering if you have heards of these people and are they scamers

Bob

 

[looker1]

At last, The Times has put this article back on the net if any of you were looking for it!
http://www.timesonline.co.uk/article/0,,7-2540528.html
Interesting reading!

Interesting piece in the Times2 today written by somebody who worked undercover in a
Buenos Aires boiler room

THOUGHT FOR THE DAY
The fear of missing out is one of the most destructive of all human emotions

 

[GregBowler]

Hi Bob and Tariq

Cambridge Capital Trading have been phoning me supposedly from Dubai over the last 8 days to get me to buy call and put options (a straddle) on AUD/USD options. They start with the United Arab Emirates Commodities Futures Board website that links to the Dubai Options Exchange website that seems to authenticate their existence. It seems quite sophisticated.

First a junior broker named Edward Nickelsen calls to establish themselves and when your show some interest a senior broker named Ray Navarro calls to get you to buy as many options as you can afford at US$1008 each.

The Dubai Options Exchange website lists various member companies including OptionsXpress. I contacted the Australian office of OptionsXpress who contacted their US office. They said that they have never heard of the Dubai Options Exchange and that have no association with it.

Ray Navarro just ignores this feedback from OptionsXpress and continues to push to transfer money to a Malaysian Bank account in the name of AI Global Resources. He even threatens legal action if the money is not transferred.

I found your posting on them in my search for any information about these websites. I can't find any other reference to them in other searches.

BEWARE!

Hi Bob,

I just checked out uaecfb.com and dubaiex.com :

1. being skeptical of anyone who cold calls you is the right thing to do from my experience.

2. I was going through their websites and what they were saying seemed kind of convincing except that I live in Dubai and I follow all local business news and I never heard of these two entities!

3. I switched to the Arabic version of the UAECFB.com website --> http://www.uaecfb.com/legal2/

and all it gave me was a very poor translation of a legal english document. Usually, the Arabic version of a legitamate UAE website is as good or better than the English version, not just a single page of rubbish. Seems like they used a primitive translation tool to make it look authentic for the Non-Arab speakers.

4. The "contact us" page has no landline number or physical address of these two entities.

My verdict: Keep clear of these two companies for now.

Regards,
Tareq

 

[SamWoe]

MobilemailUS INc

A 13.4% drop since Mobile Mail US Inc touted. Hence £300 book loss in a week.
WOW! More if you bought in earlier. It certainly pays to do your research and
study other colleague's reports on T2W. Unfortunately the drift is probably nothing
to do with the company's fortunes.

SamWoe

An investment company based in Brussels contacted me, following an expressed interest in investments via the INTERNET. - Windsor DeBeir & Associates www.windsorda.com

Immediately let me say I've had NO contacts from Mobile Mail Inc. I've spent the last two days looking at them after a call claiming to be from this investment advisory organisation in Belgium + emails. This office checks out tel/emails.

First, it was the fact that the Brussels outfit advise guys like me.
Then 'By Thursday. We'll have the name of the company available. We've been following it for 2 years.'

Finally Thursday AM I was told about Mobile Mail . With additional information, I was able to check it out. Much pressure, many tel calls. It sounded from the background noise, as though the Belgium office was at it hammer & tongue.

However I will not personally be investing at this time in Mobile Mail inc. Based in London, on the American Nasdaq exchange from last Summer. My indepth research suggested this was not for me.

I noted these shares come under the 'penny shares' regulations (under $5). It may have been that in time - the required regulatory WARNINGS would have been presented by the advisors/compliance officers/ plus the offer/buying documentation - However I did not get to that point.

Certainly the lodged Nasdaq documents carry all the required information, plus much more depth also. A great deal to wade through! NASDAQ compliance requirements appear extremely strict.

MobileMail (US) Inc Code MBMU www.mailsms.co.uk. -
Offers software that is sure to expand dramatically.

Anyone else heard from Windsor DeBeir & Assoiates www.windsorda.com?

SamWoe

 

[hasse]

*

Hi,

There are plenty of 'spank-shops' in London too.

Also be very, very cautious of 'land-banking' firms.

A simple f*** off should be sufficient if one of their 'brokers' calls you, they are scum.

Be careful.

 

[looker1]

Hi hasse,

Quite right on the land banking side, i have seen those guys blatently touting thier worthless investment deals at property shows in London, surrounded by yachts and bentlys and the like, unfortunatly their is no real law against it yet, just incorporate a company off shore and away you go, we have a few of them here in Spain, all the staff are ex spankshop from thailand and asia, still not made enough money to cover there drug and hooker habits!
I have noticed that in the past, most UK addresses on the boiler room sites were regis type addresses, ie, no-one was actually there, is it now the case that there are actual boiler rooms in the uk?

Hi,

There are plenty of 'spank-shops' in London too.

Also be very, very cautious of 'land-banking' firms.

A simple f*** off should be sufficient if one of their 'brokers' calls you, they are scum.

Be careful.

 

[brettc]

Hi I have been hasselled by these guys calling from dubi it all sounds suspicious especially the junior he says his name is tom newman and uses an american accent but always says dat instead of that and sometimes sounds more asian then yank. These guys are to pushy and sound a little desperate. I have tried finding anything legitimate on these companies and other than there own basic websites have had trouble they show that writing six options is there minimum on there site but are happy to do three which would be about $3900 aussie dollars not bad work for a few phone calls. How can we warn more people about these guys. If it sounds to good to be true it probably is.

 

[OW9405]

I heard some BBC radio show where they said the police would be cracking down on this kind of thing with several government bodies working together to shut this kind of thing down. I wonder how that is coming along?

 

[pipped]

Been reading the posts with interest I had windsor advisory service running from Barcelona scam me... 3 years ago - Yen options just wondering if this is the same set up again and again......having lost 4k and attempts to get £700 from my account back I did what I suspect often happens - no fsa and no hope unless I spent more chasing it!! I can't help but believe these guys are laughing all the way to the bank - because the name Windsor in one way or another keeps popping up....including court documents from various places. Dubia too...one guy certainly from that set up left to go to Dubia for more business opportunities...although I'd still like to do something it was a lesson learnt!!

 

[DT]

I have noticed that in the past, most UK addresses on the boiler room sites were regis type addresses, ie, no-one was actually there, is it now the case that there are actual boiler rooms in the uk?

there are quite a few in the city tbh..

Ok so they are FSA registered - but they are still basically spank shops.

I was silly enough to work for one for about 2 weeks before resigning in disgust. Basically they just hard sell AIM cash shells etc.. to people who don't know what they are doing.

The best clients seemed to be plumbers, asian business men etc.. - basically self made aspirational types that didn't know a thing about investing but had plenty of free cash & were excited by the idea that they were talking to a 'stockbroker' - Also plenty of retired people fall victim to it a lot - they used the whole inheritance tax advantages of AIM to spank them too.

There seems to be a bit of a growth in CFD advisory places too - like the small cap spank shops they are basically small call centers located in cramped offices in the city & will simply stick a white label front end on the likes of CMC's platform etc... and whack on a huge commission on the whole nominal value of a clients position in return for their 'advice'

Honestly the people who work in these places tend to be used car salesmen Essex boy types employed for their banter etc... One of them at the firm I worked at failed his SII exams several times & one of the managers joked that they would have to get someone else in to take them for him adding the comment "its not the first time its been done"

(btw I'm not naming any firms on here though most of them are easy to spot)

 

[hasse]

Been reading the posts with interest I had windsor advisory service running from Barcelona scam me... 3 years ago - Yen options just wondering if this is the same set up again and again......having lost 4k and attempts to get £700 from my account back I did what I suspect often happens - no fsa and no hope unless I spent more chasing it!! I can't help but believe these guys are laughing all the way to the bank - because the name Windsor in one way or another keeps popping up....including court documents from various places. Dubia too...one guy certainly from that set up left to go to Dubia for more business opportunities...although I'd still like to do something it was a lesson learnt!!

I hope so, those guys make me sick. It's the guys that work for them that are the most pathetic, pure hard sales tactics aimed at, usually vulnerable people who don't know enough about what they are being sold. It should be shut down, it gives finance professionals a very bad name.

Pure spank! The best ones are the stocks in Barcelona, land-banking companies and these guys punting teak in Asia.