Boiler Room Scams

[anley]

Their con was made so much easier when the LVS shares I bought rose from $22 to over $50.

But who said you ever actually owned the shares? Easy for the scammers to say you did, easy to show you a fake online statement and also easy to give you a fake share cert.

Chances are none of your money ever went into any shares, securities or investments.

I'm not trying to be hard on you but please learn from your mistakes.

 

[Ross2011]

But who said you ever actually owned the shares? Easy for the scammers to say you did, easy to show you a fake online statement and also easy to give you a fake share cert.

Chances are none of your money ever went into any shares, securities or investments.

I'm not trying to be hard on you but please learn from your mistakes.

Yes you're 100% right - hard lesson.
I understand from previous posts that money may be frozen in SKW's Taiwanese account so I'd like to do what I can to get something back - then move on wiser but poorer. Do you have any suggestions on how I should do this or do you think I'm wasting my time trying. Cheers.

 

[anley]

Ross

If the money is frozen then either the Police or Taiwanese regulator would have done it. Try to contact them, also scout around on some of the other message boards and see if there's anyone else in your type of situation. My first port of call would be the regulator as they'd be a better bet for English speakers.

Good luck, I really hope you can get something back from these scum.

 

[sqawky123]

Hurry though. I don't know what legal laws are in Tawain but it may be on a first come first serve basis. Remember, that these scammers usually are operating more than one scam, so the money may be tied up in another case. You may get some leftovers so be first in line.

 

[MARIOCAL]

We have been scammed as well by SKW. I lost about 20K and a friend of mine about 50K to them. So trying to get in touch with the right people about this.

 

[ScamWarning]

I recieved a new unsolicited call which I'm sure is a scam - http://www.vi-finance.com/ using the number 02033181675. They are attempting to impersonate a legitimate Swiss company www.Valcourt.ch - they even copy a lot of the content from the swiss website. I haven't heard exactly what the scam is, but avoid anyone calling from the number above, or puporting to be from a company which they refer to as Valco investing or VI Finance.

They list there details as:
Ireland
Lane Executive Business Center
555 Metro Place North
Suite 126
Dublin
OH 43017
+353 1903 6577
UK
93-95 Gloucester Place
Business Centre
London W1U 6JQ

Switzerland
Rue Du Rhone
1204 Geneva
Switzerland
[email protected]

 

[friday76]

Following the general 'thread' of the above I have been approached by Jefferson Holt and told of a report on a particular company in America - Galaxy Minerals. There is a minimum investment and there is a limited response time to sign up. If anyone can give me more feedback on Jefferson Holt Consulting and as to whether there is a chance of it being a decent proposal or just a con.

I also found a link to FSA showing a list of known unregulated overseas firms targeting UK investors: - http://www.fsa.gov.uk/pages/Doing/Regulated/Law/Alerts/overseas.shtm
- but they weren't on it.

If anyone can answer Trendie's questions to their validity it would be appreciated.
Thanks

Do not rely on the FSA 's list to give you confidence in any company. Their list is usually 3 to 6 months out of date. I know, because I have been there. I suggest you get professional advice. You could try Hallbrook partners, give them a ring. Suggest you stick to the main markets.
friday76

 

[pboyles]

The only thing anybody needs to know is that if you get a cold call selling shares or investments then you are being set up by criminals intent on stealing your money. 100% guaranteed.

 

[friday76]

The only thing anybody needs to know is that if you get a cold call selling shares or investments then you are being set up by criminals intent on stealing your money. 100% guaranteed.

Yea, thats right. If you want to catch these thugs, set up recordings of all calls you receive, (look around, its free)then when you have enough information, submit it to the police and and bbcs crimewatch. I have a contact in the BBC who will push this forward when the time comes. It is not illegal to make phone recordings of conversations. This is a legitimate tool which in time will snare some of them.
friday76

 

[pboyles]

Yea, thats right. If you want to catch these thugs, set up recordings of all calls you receive, (look around, its free)then when you have enough information, submit it to the police and and bbcs crimewatch. I have a contact in the BBC who will push this forward when the time comes. It is not illegal to make phone recordings of conversations. This is a legitimate tool which in time will snare some of them.
friday76

How will a phone recording help catch them?

 

[multiform1]

If you are contemplating investing in the US you should be aware that the US equivalent of the FSA is the SEC who regulate the industry, and do have a compensation scheme. I could not comment how easy it is to get compensated if you loose money however the scheme exists.
But you can carry out a detailed check on brokerage firms and individual brokers via
http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/index.htm
There is also a lot of useful advice and warnings about investing in the USA at the SEC site:
http://investor.gov/
However even if the broker firm is legit - the IPO deal may be very risky.
As P Boyles says if they are cold calling there is a high chance you are being set up.

 

[Jimbo Jones]

We have been scammed as well by SKW. I lost about 20K and a friend of mine about 50K to them. So trying to get in touch with the right people about this.

Hi -

I have contacted all of the authorities in Taiwan without much luck so far.

The best avenue I am pursuing at the moment is through our local Police office utilising the Interpol liaison. However, they have asked for confirmation that I have made contact with the Taiwanese CIB.

Can I suggest that you e-mail the following person explaining your situation :

"susanne" <[email protected]>

This will elicit a reply along the lines of what I have copied in below:


As your previous email dated 01/18/2011 concerning「Shin Kong Wedbush Scam」,we reply as following:
We suggest you may take legal actions as either report the case to local police and request official case referral to our office, Interpol Taipei, via Interpol New Zealand, or have your statement to be presented in person at our head office in Taipei.
Should you need any assistance, please feel free to contact our office and we are more than happy to receive further information from you.
Sincerely,

Interpol Taipei
Criminal Investigation Bureau
National Police Agency
Ministry of the Interior
R.O.C. (Taiwan)

You can then take this response to the local Interpol liaison and ask them to lodge the case.

Let me know how you get on - the more voices that weigh in to this issue , the better likelihood of securing a positive outcome !!!

Thanks,

Jimbo

 

[Droyston]

As being scammed myself, I noticed that I was undergoing a psycho-shock; fear, unbelief, bullishness, belief, anger and shame. It takes up and downs. Esp. when you lost all of your savings to one of these crooks. It changes your life, you´re pressed in a role you don´t want... After sentiment you start thinking and deliberate action.
Here are my findings:

- doing nothing is wrong!
- making new expenses is unavoidable.
- you need real professionals to go after them:
1. Report your case to the right authorities in the right country. No blind reporting.
2. Engage an intelligence agency (Caution: don´t get another scam) who can excecute an investigation.
3. When these findings show a little chance; engage a laywer or other services.
4. If the money is unreachable, forget it. Get a good psycho and start another life. Forget about the money and work hard.
5 Every known identity of any "boiler room" should be reported to the authorities. When no money, then at least a just punishment.

I agree with almost everything you've said here. Only those who have been scammed out of all of their savings can understand the range of feelings you experience.
The problem is that the authorities have no interest whatsoever as they take a view that we're just stupid and have money to waste so its hard luck. In most cases I don't think that is anywhere near the truth but that's how we're viewed.
Even when I gave them the address of the person who scammed me, nothing was done because he was operating in Spain and apparently untouchable. (so much for the EU). Needless to say - he's not there any more.
The SEC is totally useless. They have no interest whatsoever in helping non-US citizens and 'support' these scams via their OTC system.
The FSA listings are months behind the action.
Operation Archway is only interested in advising you not to do it again.
There is nowhere to go. If a private detective finds the person - that only helps if you're able to either get the authorities to take action or deal with the person in your own way. Unfortunately the only real option is the latter. I'm still looking for the scum who took all my savings - still hopeful I'll get him and that's what keeps me going.

 

[ANDYPROTECH]

If any of you are UK based, report to Operation Archway at city of london police site, they are gathering info on all these affectoing UK residents.

If anyone knows of a broker that will accept unrestricted Tri-Hub shares, please please let me know!

i WAS CAUGHT THE SAME WAY , BUT I JUST HAD A CALL FROM BRYNT SHAW LLP TO BUY MY VENTANA BIOTECH SHARES HAVE YOU HAD THE SAME?

 

[pboyles]

i WAS CAUGHT THE SAME WAY , BUT I JUST HAD A CALL FROM BRYNT SHAW LLP TO BUY MY VENTANA BIOTECH SHARES HAVE YOU HAD THE SAME?

These guys are going to bleed you dry. This is exactly what happens in every boiler room scam, first they sell you worthless shares, then at a later date they hit you again using a different name and offer to buy your shares from you. They will ask for a fee in advance to make the deal happen, once they get your money they will steal it and disappear. It's bad enough to have been scammed into buying Ventana shares in the first place, don't add to your loss by falling for this as well.

 

[twice bitten]

If any of you are UK based, report to Operation Archway at city of london police site, they are gathering info on all these affectoing UK residents.

If anyone knows of a broker that will accept unrestricted Tri-Hub shares, please please let me know!

I was also scammed to buy Tri-Hub. A broker (legitimate!) tried to sell them for me but even though there was a price quoted on the stock market, no-one would actually give a price for them so they were worthless. In the end he suggested I donate them to charity, which I did, as they could hold them without any costs and get something for them if ever the shares started to be traded. At least when I have had scam calls offering to sell them I can say I have disposed of them! I have had several calls since from unknown companies offering to sell these shares, and/or send me free advice on other hot buys (The Iast 'free' advice cost me £7k!) I am obviously on a 'mug' list but have now learnt the lesson!!

 

[ANDYPROTECH]

These guys are going to bleed you dry. This is exactly what happens in every boiler room scam, first they sell you worthless shares, then at a later date they hit you again using a different name and offer to buy your shares from you. They will ask for a fee in advance to make the deal happen, once they get your money they will steal it and disappear. It's bad enough to have been scammed into buying Ventana shares in the first place, don't add to your loss by falling for this as well.

thanks for that! i am getting wise to it ! is this ventana biotech a real company or is it all just false?

 

[pboyles]

thanks for that! i am getting wise to it ! is this ventana biotech a real company or is it all just false?

Ventana Biotech is a registered company but that means nothing, you can incorporate a company in a few hours, it doesnt mean the company actually trades or makes money. In the case of Ventana it seems that they were running a pump and dump scam. Basically the boiler room illegally sells shares to the public and this pushes the price up, once it rises they sell all their own shares and the price drops like a stone. Ventana has been as high as $2.50 but is now worth $0.003 (a third of one cent).

So to answer your question the company will be registered like a proper company but everything else will be faked, they normally use false press releases to help pump up the price before they dump it. Its illegal but very common.

The main thing is to ensure you dont fall for any follow up scams. Everybody that calls you about Ventana is going to be a thief intent on stealing your money.

 

[pboyles]

On the subject of fake press releases I see Ventana claimed to have invented an 'appetite-suppressing and stress reducing chewing gum'. I have to say that's about as ridiculous a claim as I've heard lately.

http://www.biospace.com/news_story.aspx?NewsEntityId=160534

 

[multiform1]

I used to own and run my own manufacturing business for many years. I am reminded of the time when small companies like mine were being encouraged to set up their own website. The main reason given was that if the website was impressive the customer base would come to believe that your company was as established and successful as much bigger competitors.So all an impressive and convincing website means is that the website designer knew how to do his job well. NOTHING MORE!