Boiler Room Scams

[melmckenzie]

Hi,
Any news about Wildwood Management Corp?














I don't know about this 'company' but they're all the same. Cold call, hot easy money idea, pay money to a foreign account NOT in the name of the original company, that's always a big give away.

Sadly you don't really have any recourse against them because who are they and where are they? Everything you were told was a lie, names, addresses etc so you've got to find them first of all. That's why you don't really have much chance I'm afraid.

Sorry that I cannot help more but you must learn from this mistake, ie don't get involved in things you don't understant, ie investments and shares. You see, if you did understand what you were doing you'd have known within 30 seconds you were being setup to have your money stolen. Yes, I'm being hard here for your own good, to try and make sure your money stays your money. Good luck.

PS. Also realise you'll be called time and time again from these scum, all with a new hot and easy money idea. ALL OF THOSE CALLS WILL BE FROM SCAMMERS AND THIEVES - ALL OF THEM. So be wary and be on your gaurd. If in any doubt ask a question here, we might be again hard on you but we'll make sure your cash keeps safe. Note the paradox here, the scammers are nice and charming yet steal your money......Good luck.[/QUOTE]

 

[1956Pete]

No I don't know them.

Hi,
Any news about Wildwood Management Corp?














I don't know about this 'company' but they're all the same. Cold call, hot easy money idea, pay money to a foreign account NOT in the name of the original company, that's always a big give away.

Sadly you don't really have any recourse against them because who are they and where are they? Everything you were told was a lie, names, addresses etc so you've got to find them first of all. That's why you don't really have much chance I'm afraid.

Sorry that I cannot help more but you must learn from this mistake, ie don't get involved in things you don't understant, ie investments and shares. You see, if you did understand what you were doing you'd have known within 30 seconds you were being setup to have your money stolen. Yes, I'm being hard here for your own good, to try and make sure your money stays your money. Good luck.

PS. Also realise you'll be called time and time again from these scum, all with a new hot and easy money idea. ALL OF THOSE CALLS WILL BE FROM SCAMMERS AND THIEVES - ALL OF THEM. So be wary and be on your gaurd. If in any doubt ask a question here, we might be again hard on you but we'll make sure your cash keeps safe. Note the paradox here, the scammers are nice and charming yet steal your money......Good luck.

[/QUOTE]

 

[DonCardEst]

Kindly speaking, i'm sure - this tread is very useful for all.

May be "offtopic" but several weeks ago i've heard about Russian Scammer - Sergei Mavrodi he build a finance pyramid (like he build about 20 years ago). Main trick - he says to all - its a pyramid - your funds in danger, but people bring a millions to him anyway. Because there a chance to have a time to earn smth.

 

[jamiemorris1984]

Hi All,

Firstly I would like to reiterate how awful these practices are. I have had contact with several investors recently who have been victimised by these scams in varying amounts.

There is a simple rule to follow to avoid becoming victim to such a scam, no registered and authorised firm will pitch a stock on the first phone call. The level of information required prior to any advice being given is substantial, and whilst you may occasionally encounter a legitimate cold-caller offering a service, they would never give any advice at least until the relevant forms and anti-money laundering procedures are completed to the satisfaction of their compliance officer.

The main area of confusion that I encounter with clients is regarding OTC US stocks with Reg S restrictions upon them. A new method of scamming I have encountered is of firms charging huge sums in the thousands for listing restrictions of sale (legend removal). This in reality will cost around £100.00. It is true that in some cases the stock sold to investors like this can be real (the scam is in the differential between price paid and likely price achieved in sale).

From my personal perspective, I find the whole area sickening as it makes people think that Stockbrokers in general are all like this.

I have never charged a client anything for looking into these types of issues or indeed legend removal in an attempt to improve the perception of genuine stockbrokers so you can understand why this annoys me greatly.

If anyone thinks they have been scammed and want to find out where they stand let me know im always happy to help.

James

 

[pboyles]

Hi All,

Firstly I would like to reiterate how awful these practices are. I have had contact with several investors recently who have been victimised by these scams in varying amounts.

There is a simple rule to follow to avoid becoming victim to such a scam, no registered and authorised firm will pitch a stock on the first phone call. The level of information required prior to any advice being given is substantial, and whilst you may occasionally encounter a legitimate cold-caller offering a service, they would never give any advice at least until the relevant forms and anti-money laundering procedures are completed to the satisfaction of their compliance officer.

The main area of confusion that I encounter with clients is regarding OTC US stocks with Reg S restrictions upon them. A new method of scamming I have encountered is of firms charging huge sums in the thousands for listing restrictions of sale (legend removal). This in reality will cost around £100.00. It is true that in some cases the stock sold to investors like this can be real (the scam is in the differential between price paid and likely price achieved in sale).

From my personal perspective, I find the whole area sickening as it makes people think that Stockbrokers in general are all like this.

I have never charged a client anything for looking into these types of issues or indeed legend removal in an attempt to improve the perception of genuine stockbrokers so you can understand why this annoys me greatly.

If anyone thinks they have been scammed and want to find out where they stand let me know im always happy to help.

James

James

It has been mentioned here before but you'd really think that it would be easy for the FSA to mount an advertising campaign about share scams. We all know that smoking is dangerous, that you should lock up your bike to deter thieves, that you should lock your windows to deter burglars, that you shouldn't drink and drive, you shouldn't speed etc etc. However ask the average man in the street and he wont have a clue about share scams, despite these crimes costing £200 million a year in the UK alone.

This lack of knowledge is where the problems start, people assume that when someone says they are a broker that they are a broker, they assume that because we have an FSA that they are protected from this type of thing. The amount of people that post on this thread having never heard of such a scam until after they have parted with the money is amazing. Of course there is sometimes a degree of greed and stupidity involved as well.

You would have thought that genuine brokers would want to put a stop to this type of thing, as you say it gives everyone a bad name. However I've concluded that the thought of any more fraud awareness or indeed any more light being shed on the entire industry makes many people nervous. Lets face it some of the 'genuine' brokers sometimes turn out to be not so honest after all (MF Global allegedly being the latest example).

 

[anley]

I've been saying for a few years now that the FSA should be running adverts (especially in the afternoon when a lot of older folk watch TV) warning about these scams. It would stop 75% in their tracks.

Just another example of how totally useless the FSA are, unless you count wasting money and having useless meetings all the time as a sign of success.

Folks, nobody wants to protect you in this day and age, regardless of what they say. So it's up to you to protect yourself.

Ask questions here if you're unsure about an investment. This thread has been about 500 times more successful than the FSA/Police and any anti scam agency you can mention.

 

[jamiemorris1984]

These forums are invaluable in gaining an insight into the true nature of the mutitude of questionable stocks and companies involved, and indeed if only the targeted demographic knew to check them the issue would be far less severe.

 

[brian_johnson]

A very interesting and informative, if at sometimes sad, read. Some people near me got scammed a while ago. I'll see if I can find out who by and post.

BJ

 

[brian_johnson]

This is an interesting and informative thread, albeit with some sad stories. Some people I know have been victims of this, I'll ask them what the company name was they were using and post later.

BJ

 

[AKL1]

Just told 'Simon Greenspan' from Tullett Brown where to go He has been calling me twice a week for a month trying to pursuade me to part with £5-7k to 'invest' in Carbon Offsets. Thanks to this site (and a few others) for continuing to expose these crooks and scammers out there.

Also approached with the same offer but fortunately found this thread which raised alarm bells. But rather than just take for granted what I was reading on here I decided to do some research into Tullett Brown (what did we do before Google?). Soon found info on company shareholders and directors. Then searched on those individuals which led to their various associations with previous companies - needless to say based on what I found (and without needing to look too hard) I've decided to steer well clear. Thank you!

 

[tim3]

Also approached with the same offer but fortunately found this thread which raised alarm bells. But rather than just take for granted what I was reading on here I decided to do some research into Tullett Brown (what did we do before Google?). Soon found info on company shareholders and directors. Then searched on those individuals which led to their various associations with previous companies - needless to say based on what I found (and without needing to look too hard) I've decided to steer well clear. Thank you!

Well done its amazing what you can find out on the net.

Also you can learn so much on this thread I can now spot most of them a mile off :!:

I will never even consider giving any money to a cold caller.

 

[Aggie]

Has anyone got any information about Donald Angus Kerr Fox? He is a liquadater of US Equities.
We would like to know if he is genuine.Thanking you in anticipation

 

[anley]

Has anyone got any information about Donald Angus Kerr Fox? He is a liquadater of US Equities.
We would like to know if he is genuine.Thanking you in anticipation

Aggie, give us some more information please if you have it. But I'd say now that there's a 99% chance you're being setup so be very careful.

If you can get their website, and address and tell us more of what they're saying and proposing.

 

[pboyles]

Has anyone got any information about Donald Angus Kerr Fox? He is a liquadater of US Equities.
We would like to know if he is genuine.Thanking you in anticipation

Aggie,

These guys have been cold calling you for three years now. None of them are going to be genuine, I'm not quite sure why you cant see that. They got money off you once and they will keep trying to get more off you because they think you are a soft touch.

It doesnt matter what name they use, they are criminals trying to steal from you. You are not getting any of that money back, if you get involved with these people you will only ever lose more money.

There is a Donald Angus Kerr Fox who is a Director of Wristbands by Viizi - make your own custom wristbands so if you really must call him and see if he is the guy liquidating US equities (he wont be but I'm sure you wont take our word for it). The crooks have just looked up a few names on the internet to use when they call you.

 

[Aggie]

We were well aware this was a scam, but we were trying to fine out where he was coming from,my husband informed the FSA who said they had his details but that he was currently inactive. He tried to make out that the American goverment are now compensating people who have lost money on useless shares.and that the SEC would be emailing us.He stated that his company is going to approach the regulator to see if payments can be made. The website address he had PrivateEquityValuation.com, and he stated he can be verified at www.fsagov.ukregister/indivmainsearchdo.He was to come back to us but it looks like he realised we did not belive him. Thank you for all your kindness.

 

[chaselancaster]

99.9% of cold calls you receive will be scams - period. It just isn't worth paying any money over to find the 0.1% that isn't, despite what that little demon 'greed' may be telling you.

 

[anley]

Aggie, 100% he's a scammer, a liar, a cheat and a thief.

If I were you I'd tell him exactly that if he calls back. These people don't like it at all when you tell them the truth because 90% of their lives are lived as a lie.

 

[pboyles]

We were well aware this was a scam, but we were trying to fine out where he was coming from,my husband informed the FSA who said they had his details but that he was currently inactive. He tried to make out that the American goverment are now compensating people who have lost money on useless shares.and that the SEC would be emailing us.He stated that his company is going to approach the regulator to see if payments can be made. The website address he had PrivateEquityValuation.com, and he stated he can be verified at www.fsagov.ukregister/indivmainsearchdo.He was to come back to us but it looks like he realised we did not belive him. Thank you for all your kindness.

A person by that name was on the FSA register working for a mortgage company but his registration ceased in 2007.

 

[MoonRocket]

Donald Angus Kerr Fox........ surely not?......it's such an important sounding name.

 

[peakoil]

Just to reiterate as it is a long thread:

If anyone is ever cold called - that is, you get a call out of the blue from someone who is trying to offer any type of investment advice etc., always ask them for
1) their name,
2) Their company's name.
3) Their London telephone number,
4) Their address
5) most importantly if (assuming you still are interested in what they may offer) they wouldn't mind if you check them out with the FSA before you speak another word with them. Whether they hang up at that stage or not, you should most definitely call to speak with the FSA on 020 7066 1000 (this is the main swicthboard for the FSA but explain what has happened and the operator will put you through to the right person). The alternative widely publicised official number for the FSA is 08456061234
Alternatively you should do as most of us do already, and that is never ever accept any 'cold calls' & just hang up.