fergusonrs
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How do you go about finding these low lifes and causing them some pain?
Boiler Room Scams
- Thread starter Airthrey Capital
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Depends on who you are looking for. Some of them are on the Costa del Sol or around Barcelona, others are much further afield eg Thailand. I'm assuming you mean the legal sort of ''pain'' like getting jailed.
From what I've seen first hand these organisations will also employ a few admin staff like secreteries who actually have no idea what is going on.
It's very hard. They of course know they're in the business of thieving and therefore many of their customers when they find out won't be too happy.
So they do everything possible to mask real details about them, hence all the lies -
Their names - fake
Company name - fake
The country the say they're located - real, but they're not there
Their address - a mail drop, and on and on
But they can be found, anything is possible, but unless you get some inside info on them a private eye would probably be needed and as he'll hjave to go global look for a starting invoice of probably £50k.
The weak link is always the bank account, but no bank will release details of a client without a court order. The banks are always located offshore, hence the private eye will have to go global.
For anyone that's been scammed you MUST realise it's a bad bad world out there and almost everyone you come across, even from a legit firm, is trying to set you up. even Coca-Cola who this week had an advert banned because it was billed as a 'healthy and nutritious drink' when in fact it had over 5 teaspoons of sugar in it.
My point is that even legit companies will tell you anything including a pack of lies to make the sale.
All very true. Certainly if you are trying to find a specific boiler room it will be very difficult. However if you're not looking for a specific boiler room, just any that you can find, them it is relatively easy. For instance look for sales jobs that are finance related and based in Spain, at least some of them will be boiler rooms. Likewise if you were living in Spain for a while you'd soon get to hear about expats working in a 'financial centre' selling investments over the phone. Before too long you'll be able to locate a handful of boiler rooms.
kathleenleon
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I am at present taking a case against these scum in Hong Kong for a refund of my money which is fortunately frozen in bank a/c. The bank while knowing that these people are fraudlent make no effort to help the victim. They call them their client even when police are investigating them for narcotics and fraud. Its a win win situation for the bank if the a/c remains frozen as nobody gets the money.Getting legal proceedings going in Hong Kong is very expensive but worth pursuing. My advice to anyone who quickly realises they have been caught is to call the bank in question and insist the a/c be frozen as you are advising them they are parttaking in advance fee scam, this will freeze the a/c on a temporary basis.File a report with your local police who will send it to Interpol and then to the country in question. Hire a lawyer to take out injunction to freeze your money then go for a judgement. The laws in Singapore are different to Hong Kong and is not as simple. Hope this can be of help to anyone looking to get their money back. It is not always gone forever .
Kathleen
Well done for taking action quickly, it's a long shot but hopefully you will get something. The problem with a lot of boiler room fraud is that people don't accept they've been scammed and therefore don't take any action or if they do they take action when it's way too late.
Well done for taking action quickly, it's a long shot but hopefully you will get something. The problem with a lot of boiler room fraud is that people don't accept they've been scammed and therefore don't take any action or if they do they take action when it's way too late.
kathleenleon
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Hi,
Once the money is frozen in the a/c then it is no longer a long shot to get your money returned. These scum will not appear in court to fight you so you get judgement by default.The judgement is to order the bank to return the money with interest. The big thing is to get the a/c frozen in the first place .This takes alot of threatening to bank but they always cover themselves and in the end they comply. We were lucky that we realised witin a week that it was a scam and surprisingly the money was still there. Hope this help anyone out there it is worth checking bank to see if funds are there also get your own bank to recall the funds. They will not do this without court order but it makes them responsible while you get legal wheels in motion. If I can be of any further help PM as I fear too much information to these scums who may be on this site would alert them to the remedies.
This is why I've said for a long time that the bank account is THE weak link.
So for anyone that wants to mess the scammers up and I mean REALLY mess them up do this -
Play along, play dumb and say you want to invest, but you're cautious so not too much to start with, make them think you've got some big bucks and are going to try them out.
Then, when they give you the bank account, call the Compliance Dept up at the bank straight away (don't bitch about the cost of the call) and tell them their bank is being used by boiler room fraudsters and the London Police are involved, tell the bank that they'll probably have already been in contact. There's now an excellent chance the money will be frozen.
Also, send an email to Operation Archway, the Police dept looking into these scammers with your story and the all important bank details.
Of course, don't send the scum any money
They will then call a few days later asking what happened to the money, why didn't you send it. You then have a few choices -
1. Tell them where to go as you ran the investment past your btojer and he said it smells fishy.
2. Conbtinue to play along and tell them you tried but your bank returned the money saying their bank for some reason wouldn't accept the cash. Hopefully they'll give you another account at another bank and then the whole process starts again.
Remember this because it's important. Whatever they say to you on the phone is a lie, so don't get scared if they threaten to sue you for the money and/or anything else. What are they going to do, actually sue in a British Court
So for anyone that wants to mess the scammers up and I mean REALLY mess them up do this -
Play along, play dumb and say you want to invest, but you're cautious so not too much to start with, make them think you've got some big bucks and are going to try them out.
Then, when they give you the bank account, call the Compliance Dept up at the bank straight away (don't bitch about the cost of the call) and tell them their bank is being used by boiler room fraudsters and the London Police are involved, tell the bank that they'll probably have already been in contact. There's now an excellent chance the money will be frozen.
Also, send an email to Operation Archway, the Police dept looking into these scammers with your story and the all important bank details.
Of course, don't send the scum any money
They will then call a few days later asking what happened to the money, why didn't you send it. You then have a few choices -
1. Tell them where to go as you ran the investment past your btojer and he said it smells fishy.
2. Conbtinue to play along and tell them you tried but your bank returned the money saying their bank for some reason wouldn't accept the cash. Hopefully they'll give you another account at another bank and then the whole process starts again.
Remember this because it's important. Whatever they say to you on the phone is a lie, so don't get scared if they threaten to sue you for the money and/or anything else. What are they going to do, actually sue in a British Court
I see Simon James was arrested on 8, April, 2011 along with 20 other foreigners, in Bangkok. They looked a little surprised and judging from the clothes they were wearing, I would say they were one level up from the boiler room workers that they make dress up. It is good to see some of these scum getting arrested. I imagine their accounts in the other boiler rooms will be transferred to someone else.Hopefully not many of you on here will have your financial advisors (theives) be suddenly relocated and replaced with a new one.
http://denzukefinance.blogspot.com/2011/04/simon-james-bangkok-stocks-boiler-room.html
http://denzukefinance.blogspot.com/2011/04/simon-james-bangkok-stocks-boiler-room.html
ScamWarning
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New scam to be aware of - the company is called www.bridportadvisory.com/ - typical boiler room scam; they will try to talk you into submission into buying some shares which either don't exist or have no real value. They list their contact numbers as +41 22 518 0899 and +44 207 129 8083 but will likely call you off withheld or +34871967836.
Chesireman
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My friend, a pensioner was also contacted by worlderiskconsultants offering me discounted FTSE 100 shares and requesting monies to be depoisted in Hong Kong and they will only charge her commision at 2% on gross profits. They claim to be registered with FSA. Can anyone out there please provide further guideance
100% scam.
Please think about things logically.
A stranger has called you offering you cheap FTSE shares, shares which if you bought through a proper London stockbroker would cost a lot more.
Does this sound plausible to you or not?
Or to put it another way a stranger is calling you offering free money but in order to get hold of the 'free money' you first have to pay him some money.............
Do business with these people and 100% your money will be stolen from you, again, 100% chance your money will be stolen from you.
Chesireman
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I have also been contacted by worldwideriskconsultants, sellinf FTSE 100 Shares and claiming to be registered with FSA. but monies to be depoisted in accounts outside UK. Can some post their expereinces?.
Cheshire - I doubt anyone will share their experience of dealing with a firm and sending money to an offshore account.
But I'll tell you what somebody would say who's dealt with them -
"My money got stolen by a bunch of Boiler Room thieves'.
It really is as simple as that. So if you've paid them money then it's been stolen and everything you've been told was a lie. Plus, every and any phone call you get in the future from stockbrokers or investment advisors or even regulators will be from the same scammers that stole your money in the first place. Repeat - EVERYONE AND ANYONE THAT CALLS - NO exceptions.
But if you haven't dealt with them then you're OK, but if you do, if your greed accepts the bait of easy money then when your cash is stolen please look in the mirror when wanting to blame somebody.
Don't take offence, just being cruel to be kind and making sure you keep hold of your money.
But I'll tell you what somebody would say who's dealt with them -
"My money got stolen by a bunch of Boiler Room thieves'.
It really is as simple as that. So if you've paid them money then it's been stolen and everything you've been told was a lie. Plus, every and any phone call you get in the future from stockbrokers or investment advisors or even regulators will be from the same scammers that stole your money in the first place. Repeat - EVERYONE AND ANYONE THAT CALLS - NO exceptions.
But if you haven't dealt with them then you're OK, but if you do, if your greed accepts the bait of easy money then when your cash is stolen please look in the mirror when wanting to blame somebody.
Don't take offence, just being cruel to be kind and making sure you keep hold of your money.
Chesireman
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Thank you for your frank words, much apreciated.
Colazione da Tiffany
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Are you a lawyer ? I've just realized to have been caught in a "cold calling" financial scam. I live in Singapore and I gave already some money to a society based in Korea selling some shares at the official price stated at the Frankfurt Börse. I checked the shares value in the Börse and everything looked regular, then by chance in the net I found out lots of news about these shares as part of typical boiler room scam and I also found out that the Korean society I am dealing with is listed under the warning companies in the UK FSA and it is obviously not authorized to operate in UK.
Checking more in depth (unfortunately I did it too late.....) I've seen that the shares they say to buy and sell have no sales volume at all in the Börse. The value is changing as they say, but no volume is shown.....
How is this possible ?
I would like to try to have their bank account based in another country in Asia frozen (as you mentioned), but if I call the Bank as a private they will not do anything and most probabaly they will simply inform their customer. The account they gave me is clearly a temporary one and as soon as they suspect something, they will simply close the account and I'll definitively loose any little chance to get any money back...
What do you suggest me to do ?
Is there any legal action that can be taken against these people ?
I also thought to report the case to the police here in Singapore, but what can they do ?
Singapore is not directly involved ......
I would really appreciate a suggestion as I do not know what to do.
Thanks a lot for any suggestion
Definately report it to the Singapore Police. They may be able to give you some advise. The Singapore Police do not have any patience with scammers and take the matter seriously. Unfortunatetly, it sounds like you were cold called out Korea (most likely Thailand). Scammers do visit Singapore bbut they get out very quickly. The laws are to harsh on them.
