Boiler Room Scams

http://www.shinkongwedbush.com
Shin Kong Wed Bush? Are you serious?

Yes i am. Do you ahve any information conerning this company. I have contacts via their Web site and email adresses their phone lines is always on amail box, and the last mail i received was a merge beetween them and a company called Fairfield Associates (This is when the SH... hit the fan).
Please if you belkeive that those guys are genuine give me insights.
Regards
 
They are a scam, they are already on a government warning list in New Zealand. They have stolen your money, you will be getting plenty of calls in the future as well trying to get more money from you. Remember every single cold call you get about shares is a scam, no exceptions.
 
They are a scam, they are already on a government warning list in New Zealand. They have stolen your money, you will be getting plenty of calls in the future as well trying to get more money from you. Remember every single cold call you get about shares is a scam, no exceptions.

Well noted i indeed found them on the Financial regulators list of new zealend but no where else. I am rying to see if i can get them but i do beleive it is misson impossible.:mad:
Thanks for the advice
Maybe you can recommend some good and reliable iunstitutions for investments i might be able to make it up.
 
Well noted i indeed found them on the Financial regulators list of new zealend but no where else. I am rying to see if i can get them but i do beleive it is misson impossible.:mad:
Thanks for the advice
Maybe you can recommend some good and reliable iunstitutions for investments i might be able to make it up.

I'd recommend you do nothing of the sort. Even the 'genuine' companies will rip you off. There is no easy money, despite what you might have read. The chances of you making back your loss with another company is about zero. The most likely outcome is that you will add to your loss.
 
PB says is right because if finance firms don't steal your money illegally they'll try to skim it legally.

You're on your own, so start to learn the game yourself or it's odds on that you'll be taken advantage off whether you use the scummiest company or the bluest of bloods.

Plenty of books to start learning with, but it does take time.
 
Hi rub1

Yes one was echo resources and the other is Pharma Holdings Inc. this being the latest one, Could you tell me how you know they are being investigated by nevis regulators please.I have been trying to find out any info on pharma Holings their web site looks good however at www.pharmaholdingsinc.com
Thanks for your reply
regards firestorm

Seems Pharma Holdings have been a long running scam, first mentioned on T2W in 2006.
 
hi guys becareful in fx too,have a account with brocompany about 10k in there,been reading some **** things about them so yesterday spoke to them and asked for refund money back to my bank,first they said cant close account i said ok refund me 9k i will leave the account open .today got email refund denied.wtf any advice from you guys of what steps to take
 
hi guys becareful in fx too,have a account with brocompany about 10k in there,been reading some **** things about them so yesterday spoke to them and asked for refund money back to my bank,first they said cant close account i said ok refund me 9k i will leave the account open .today got email refund denied.wtf any advice from you guys of what steps to take

What's the name of the company?
 
Bangkok

Which bank and country did you send the money to and was the bank account name the same name as the company's name, or was it completely different?
 
www.brococompany.com .been with them over 15months,no problem up till now, had some losses this year so wanted to get refund as i trade es now,anybody reading this becareful just when you think everthings ok
 
Contact their regulator, looks like it's in Mauritius.

As a lesson for the future try to properly research who you're doing business with and only deal with UK or US brokers who are regulated by those countries financial regulator. Common sense really.
 
www.brococompany.com .been with them over 15months,no problem up till now, had some losses this year so wanted to get refund as i trade es now,anybody reading this becareful just when you think everthings ok

There's never a problem with these brokers until you start making money or withdrawing funds. Their entire business is set up to take money from losing traders, they are probably not even passing your orders through to the market. They know almost every retail trader loses money trading forex so just take you trades and wait for them to stop out. Giving you profits or your initial deposit back is not part of the plan.

They are regulated in Cyprus or Mauritius for a reason, so that they can quickly disappear once things hot up.

I suggest you post this as a scam on forexpeacearmy.com they may be able to help you.
 
ITS ALREADY THERE PETE,THATS WHY I POSTED,not only me looks like alot of us hurts still live to fight another day alot more people worse off than we are got two arms legs .becareful out there fookers will get you;)
 
There are lots of people doing that "boiler rooms" they are usually from Thailand, Hong Kong and the Philippines.
Be careful out there guy!s
 
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.....

Pacific One
Trade Tech Institute
 
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