Boiler Room Scams

bucket said:
Can anyone give me information on Ellis Capital Management, they have persuaded my father in law to purchase shares in what I would describe as either high risk or completely worthless
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Bucket,

Its a scam, they have stolen his money and its highly unlikely he will ever see it again. Ellis Capital Management is already on the FSA warning list meaning they have been around for a while. I will post more details later but can you tell us the name of the company in which he 'purchased' shares? Having that information on this board may help others avoid being scammed.

http://www.fsa.gov.uk/pages/Doing/Regulated/Law/Alerts/overseas.shtml

If you google the term 'boiler room scam' you will see that this is a common fraud. You should also be aware that because he fell for this scam he will be contacted again with a view to further defrauding him. This may be presented in such a way that it looks like the caller is trying to help him get out of his initial 'investment' but it will be another attempt to steal money from him.

Any cold call relating to shares or investment is a scam.
 
I just re-read your post and its not entirely clear if he has sent them money or not. If he hasn't sent them money then do whatever it takes to stop him from doing so. They may try to say that he has made a legally binding verbal agreement, that is nonsense, these are criminal operating from outside the UK and there is zero chance they will pursue you through the legal system.

You should report this to City of London Police, Operation Archway and to the FSA. It might not do you much good but it could help prevent others being scammed.
 
Regarding the Strathclyde Associates and Greencell shares I have been cold called with a very pursuative man, Nicholas Grayson.
I could buy below the requested minimum per sale as to get me in. Shares for Euro 1,7 although they already was at Euro 1,85.
I told I would investigate the web for their name and would cancel communication if any negative came up.
Anyway they have sent me papers this night with an open account and an agreement :rolleyes:
In order not to get to interested, as we all would like to make easy money, I have paid of on my loan instead with the half of my available funds. Now I cannot get tempted.

Be carefull. When you search for Strathclyde Associates you only get hits with their own articles. It was difficult to find other pages with blogs like this. Anyway all the blogs I found are negative.
I will therefore thank this site as to clarify my final decission.
 
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Kah

Well done for not falling for the scammers, Strathclyde Associates are 100% nasty.
 
Kahretsem said:
Regarding the Strathclyde Associates and Greencell shares I have been cold called with a very pursuative man, Nicholas Grayson.
I could buy below the requested minimum per sale as to get me in. Shares for Euro 1,7 although they already was at Euro 1,85.
I told I would investigate the web for their name and would cancel communication if any negative came up.
Anyway they have sent me papers this night with an open account and an agreement :rolleyes:
In order not to get to interested, as we all would like to make easy money, I have paid of on my loan instead with the half of my available funds. Now I cannot get tempted.

Be carefull. When you search for Strathclyde Associates you only get hits with their own articles. It was difficult to find other pages with blogs like this. Anyway all the blogs I found are negative.
I will therefore thank this site as to clarify my final decission.
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Strathclyde associates are already on the FSA warning list. They are confirmed fruadsters.

http://www.fsa.gov.uk/pages/Doing/Regulated/Law/Alerts/overseas.shtml#s
 
Many thanks to all for your response, unfortunately my father in law has remitted funds in respect of the share advice received although initially he thought this was coming from a firm called Wills & Co who at this time were registered with the FSA. Only later did this guy called Peter???? state he was acting for Eliis Capital Management.
The shares purchased were Cosmosis, Gaicor & Viridis (excuse the spelling) and he has received share certificates for all of them and I have checked that he is a registered shareholder.With Viridis the CEO has confirmed the holding of 12000 shares, the amount purchased but the certificate states 39,400 shares.....strange
The whole affair has been reported to the FSA and a detailed report sent by myself to the City of London police by recorded delivery although I have had no acknowledgement in return. Also the matter is in the hands of the local police.
 
tradingstation0 said:
Indirect investments include a broad focus of core, value added and opportunistic strategies including our Global Multi Manager program, which invests in unlisted property funds, and our Global Real Estate Securities program, which invests in listed real estate securities.
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What on earth are you talking about?
 
Bucket

Can you confirm that he was sold shares in GAIACOR INTERNATIONAL PLC? This is interesting because they are a UK Plc and listed in Frankfurt. That would follow something of a recent pattern if it was them.
 
pboyles said:
Bucket

Can you confirm that he was sold shares in GAIACOR INTERNATIONAL PLC? This is interesting because they are a UK Plc and listed in Frankfurt. That would follow something of a recent pattern if it was them.
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I can confirm he has purchased shares in Gaiacor International Plc, perhaps you can
explain the significance regards following recent patterns and I thank you for your assistance.
 
Bucket

if it hasn't already been mentioned please warn your father in law that he's now on the 'marks list', ie people who've fallen for the scams and are therefore ripe to be targeted again and again.

He'll therefore be receiving plenty of calls over the next few years from all sorts of 'brokers' and maybe even government departments all willing to help in either getting his money back via new get-rich-quick investments and compensation. However, ALL of the people on the other end of the phone will be connected to the same scammers who stole his money in the first place.

Make sure you drum this point into him and also make sure you tell him the people calling him will all sound very professional, be extremly charming and will be 'on his side'. Of course it's all lies........
 
anley said:
Bucket

if it hasn't already been mentioned please warn your father in law that he's now on the 'marks list', ie people who've fallen for the scams and are therefore ripe to be targeted again and again.

He'll therefore be receiving plenty of calls over the next few years from all sorts of 'brokers' and maybe even government departments all willing to help in either getting his money back via new get-rich-quick investments and compensation. However, ALL of the people on the other end of the phone will be connected to the same scammers who stole his money in the first place.

Make sure you drum this point into him and also make sure you tell him the people calling him will all sound very professional, be extremly charming and will be 'on his side'. Of course it's all lies........
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Many thanks, I have informed him on the points of your communication, I just hope he has taken it on board. Bucket
 
just got call about a company called Greencell Technologies. Strathclyde associates are really pumping this one. Does anyone have any idea as to who Greencell is and who Strathclyde Associates are?
 
Received some advertising from a company called forexmanaged.co.uk

Easy to find with google. Professional looking webpage with results that look too good to be true, mentioning 3rd party auditing etc etc. Claim do not hold clients funds themselves

Has anyone any experience with these type of companies - are they scams?
 
Quote from their website

"Everything is geared to generating continuous profits. So, would you like…

# 10-15% ROI Every Month
# Higher Returns Than Any Savings Account
# No Entry Fees
# No Monthly Fees
# Your Money traded By Professional Forex Traders
# You Only Pay Us on Results.

Their website shows no business address or contact details. The website is registered to a guy in Thailand.

Send them your money and it will disappear. These type of things are all scams.
 
bucket said:
Many thanks, I have informed him on the points of your communication, I just hope he has taken it on board. Bucket
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Bucket - tell him if he doesn't take the truth on board he'll be taken for more money it really is as simple as that. If the scammers are smart, and most of them are, they'll leave him alone for 12 months then they'll come back offering easy money, or a simple way out for the shares he's already bought when his guard has been lowered.

Sadly there are plenty of stories about people being taken time and time again...........
 
laytonm said:
Received some advertising from a company called forexmanaged.co.uk

Easy to find with google. Professional looking webpage with results that look too good to be true, mentioning 3rd party auditing etc etc. Claim do not hold clients funds themselves

Has anyone any experience with these type of companies - are they scams?
Click to expand...

Common sense suggests NEVER to do business with any financial firm that doesn't put a proper address or telephone number on their site.

Sadly, when it comes to money and the promise of high returns many people leave their common sense hidden away. Then, when the promised big profits failt to materialise they complain they were ripped off.

But if you fail to do proper due diligence and I mean PROPER DUE DILIGENCE then who really is to blame?

Don't take it personally anyone, just being cruel to be kind :)

PS. Just to show you how many of these firms operate do you realise if you become a client they'll all have an affiliate deal with the broker they 'recommend'. What this means is that everyone will be making money off the clients whether the clients win or lose. Nice risk free busines if you can get it.

It's a bit like those get richj quick buy-to-let property seminars that everyone lost so much on. How many of the punters realised that all the nice and helpful estate agents, developers, mortgage lenders and solicitors they were put in contact with were all in bed with the seminar scammers.

Another classic example where ALL the risk was dumped on the poor client and guaranteed money was made by everyone else. Again, lovely business if you can get it assuming of course you don't mind ripping people off........
 
good said:
The response I got from Wertpapierhandelsbank AG was:

I’m sorry but we have no information about the share registrar of Viridis Technologies.
Canadian Companies are usually registered with www.integraltransfer.com.

I find it somewhat bizarre that the listing partner bank doesn't have any dealings with the registrar, and "usually" isn't very helpful in this context! However, the transfer agents' contact details, as given to my by the CEO, are at http://www.selectfidelity.com/contact.html . It's the details at bottom right.

Meanwhile, I just got an email from the CEO of Viridis to say he'd checked with the transfer agents himself, I am on the register and my certificate was issued on 19 July. So now we have a "lost in the post" situation, at best.

Anything info or checks on this strange chain would be appreciated. In a similar vein, I don't suppose you've come across Legatus Consulting Ltd & Co KG of Caprivistrasse 33, 22587 Hamburg (the escrow agents)? That would give me a bit of confidence that my money had gone straight into thin air.
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How did this work out for you?
 
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