Boiler Room Scams

[jthetrader]

Anyone know of a guy named Jason Scott Kline? I read about him in a Guardian Money piece on boiler rooms, but I couldn't find any more info out.

 

[scamed trader]

Hi, contact me on my [email protected] so we can discuss. Martin

Their account details of their account in Belize is as follows

Bank Name Heritage International Bank And Trust Limited
Bank City (or Region) Belize City
Account Number 704266
SWIFT Code PRVTBZBS
Payment Description Payment to Premier Settlements Ltd

These guys are scum, the above details are from August 2011

 

[whistler_man]

Anyone know of a guy named Jason Scott Kline? I read about him in a Guardian Money piece on boiler rooms, but I couldn't find any more info out.

These ******s use some form of their real name and make up the rest. Not always. They are superstitious and stick with a name that they feel is lucky for them. Jason Adam Scott was the infamous Danny Sterk, You may remember he was hooked up with Stephen Robert Casciola aka Stephen Casio or Case in BKK back in 2000 with IAM.

 

[EconomicFraud]

There appears to be 3 sites wanting to rescue investors from their losses. They are globalinvestoralerts.com, economicfrauds.com and investoralerts.com (and they appeared in that order). Are there others? We need to know! Only economic frauds has managed to stay afloat, but for how much longer? They ask for at least $150 for starters.

All 3 sites appear to share the same content, and two of them shared the same feel and look. I leave you to draw your own conclusions.

"Economic Frauds" is a scam website - economicfrauds.com defrauded me of my money (thankfully not too much) and I decided to make a blog post about it, which you can read here - Economic Frauds is a scam website

There is plenty of dirt on Global Investor Alerts (their site globalinvestoralerts.com seems to be down) if you fancy doing a little bit of google research.

 

[Ainka]

globalinvestoralerts.com is not a scam, our "good" friends are trying to do this bad reputation/image.
Why it should be a scam? globalinvestoralerts published all about boiler rooms, with bank details,
knwon people in the background, just all. It has been a very good database, free for everybody to use.
Did you thought about, how much work is behind something like this? Some 1000 hours ?
I think it is clear, who doesn't like this informations!
You will not find any other comparable page. It was really very helpful, I feel sorry thats gone, but I hope that it is just for a while.
Or you are angry, that people which invest their time and working hard for something, earning some money ? You are working everytime for nothing ? Just because you like your boss?
By myself I helped some people to get back their money - nearly never the people give you even a feedbeck, nor a thank you for your job -( I'm not a professional investigator)....................

 

[Ainka]

be carfully with Hanson and Albright, thats 100% scam :

http://whocallsme.com/Phone-Number.aspx/008134550157/23

 

[jthetrader]

These ******s use some form of their real name and make up the rest. Not always. They are superstitious and stick with a name that they feel is lucky for them. Jason Adam Scott was the infamous Danny Sterk, You may remember he was hooked up with Stephen Robert Casciola aka Stephen Casio or Case in BKK back in 2000 with IAM.

I'm not really aware of who the big fish are in this business, thankfully I've not had any run-ins with boiler rooms, but I read a newspaper article about Spanish boiler rooms and the author (an ex-boiler room employee) said Jayson Scott Kline was one such boss. I also found another article saying he had been in trouble in America.

Boiler rooms chug on- Guardian Money
Lifting the lid on boiler room scams- Guardian Money, 2007

 

[jblonde]

Anyone know of a guy named Jason Scott Kline? I read about him in a Guardian Money piece on boiler rooms, but I couldn't find any more info out.

He operates out of barcelona and spain, he is an american and as far as i know alwayshas a bodyguard with him..he has been found guity of us fraud but dont think hes in jail..he ran yhe biggestboiler rooms in spain..will try to get you more info shortly...

 

[jthetrader]

He operates out of barcelona and spain, he is an american and as far as i know alwayshas a bodyguard with him..he has been found guity of us fraud but dont think hes in jail..he ran yhe biggestboiler rooms in spain..will try to get you more info shortly...

Yeah it said in the article that he always has a bodyguard with him because some victims had sworn revenge. Is the guy still operating? You would have thought someone in such a position would get out while the going was good, while they have their money and freedom.

 

[EconomicFraud]

globalinvestoralerts.com is not a scam, our "good" friends are trying to do this bad reputation/image.
Why it should be a scam? globalinvestoralerts published all about boiler rooms, with bank details,
knwon people in the background, just all. It has been a very good database, free for everybody to use.
Did you thought about, how much work is behind something like this? Some 1000 hours ?
I think it is clear, who doesn't like this informations!
You will not find any other comparable page. It was really very helpful, I feel sorry thats gone, but I hope that it is just for a while.
Or you are angry, that people which invest their time and working hard for something, earning some money ? You are working everytime for nothing ? Just because you like your boss?
By myself I helped some people to get back their money - nearly never the people give you even a feedbeck, nor a thank you for your job -( I'm not a professional investigator)....................

Hi Ainka,

there is enough information out there to absolutely suggest that Global Investor Alerts was a scam - not just personal complaints of those being scammed, of which there are many, but also website registration details and the like (they were a recent website registered using a privacy protection service for instance - why?)

Although I cannot absolutely vouch for Global Investor Alerts being a scam, I was not scammed by them, I was scammed by Economic Frauds and they use the exact same techniques as Global Investor Alerts.

You ask why it should be a scam and that they publish about boiler rooms? Well yes they do publish warnings against real boiler rooms, and there is value in that, but the reasons they are doing it is altogher more sinister.

Basically they are running an Advance Fee Fraud, similar to the 419 Nigerian Banking scam that I am sure you have received emails about many many times.

They are actively recruiting people that have been ripped off by boiler rooms (such as myself) and trying to rip them off a second time. In this way, publishing the warnings against real boiler rooms acts as both a victim recruiting tool and as a way to convince the victims that they are genuine - very clever, even if it is altogether despicable.

Yes anything that makes the boiler rooms jobs more difficult is a good thing, and sites like Economic Frauds, Global Investor Alerts, People Alliance Corp and Financial Frauds do achieve that, but I for one can't just sit back and allow them to further rip people off - no way!

There are a significant number of genuine sites, typically financial authorities like the FSA in the UK, that list vast numbers of "companies" that are not registered to supply investment services. It's probably where sites like Economic Frauds get their information from.

If you think you have been contacted by a boiler room, or advanced fee scam website like Economic Frauds, then do a search on their name and/or website address and if there is a warning it will pop up. Even if it doesn't (it could be a brand new company that the criminals have created), contact your local financial authority to check if it is registered to sell financial services to your country.

 

[20-100]

Hello guys,

I'm a guy from Belgium and I have been scammed by "Global Direct Equities LLC".
www.globaldirectequities.com

I paid 5250 USD for 150 Facebook shares @ 35 USD for the IPO offering.

I had contact with two guys, Paul Young and Kevin Mulholland.

They seemed trustworthy and I have send me a link to check the company:
with the Financial Industry Regulatory Authority.

***Finra***
Financial Industry Regulatory Authority Go to the following link: FINRA - List of Members - G

I just checked their domain name and it has been registerd in February 2012 in the Philippines.
The address for Global Direct Equities LLC on the finra.org website isn't the same as the address on their website so I guess they used the name of the real broker company to mislead people.

This is the address underneath their mails:

Paul Young
Junior Consultant
Global Direct Equities LLC.
61 BROADWAY - SUITE 1915, NEW YORK, NY 10006 Contact Number: +1 347 201 9594 [email protected] www.globaldirectequities.com


Is there something I can do or can I say goodbye to my money?

Thank you in advance for your reply


Best regards

 

[pboyles]

Hello guys,

I'm a guy from Belgium and I have been scammed by "Global Direct Equities LLC".
www.globaldirectequities.com

I paid 5250 USD for 150 Facebook shares @ 35 USD for the IPO offering.

I had contact with two guys, Paul Young and Kevin Mulholland.

They seemed trustworthy and I have send me a link to check the company:
with the Financial Industry Regulatory Authority.

***Finra***
Financial Industry Regulatory Authority Go to the following link: FINRA - List of Members - G

I just checked their domain name and it has been registerd in February 2012 in the Philippines.
The address for Global Direct Equities LLC on the finra.org website isn't the same as the address on their website so I guess they used the name of the real broker company to mislead people.

This is the address underneath their mails:

Paul Young
Junior Consultant
Global Direct Equities LLC.
61 BROADWAY - SUITE 1915, NEW YORK, NY 10006 Contact Number: +1 347 201 9594 [email protected] www.globaldirectequities.com


Is there something I can do or can I say goodbye to my money?

Thank you in advance for your reply


Best regards

You could try to report it to the financial regulator in Belgium though I don't know the name of that organisation, perhaps you can google it in French or Dutch. I dont know what they can do, maybe not that much due to all the overseas accounts and fake identities these guys use. You should accept that the money is probably lost.

Be aware that you will be receiving more calls from the same fraudsters, they will have different excuses and may even offer to recover your money, however they will be crooks trying to steal more money from you, dont fall for it.

 

[Ainka]

You could try to report it to the financial regulator in Belgium though I don't know the name of that organisation, perhaps you can google it in French or Dutch. I dont know what they can do, maybe not that much due to all the overseas accounts and fake identities these guys use. You should accept that the money is probably lost.

Be aware that you will be receiving more calls from the same fraudsters, they will have different excuses and may even offer to recover your money, however they will be crooks trying to steal more money from you, dont fall for it.

If your money transfer is still a bit fresh, few weeks, you can try to do over your house bank a money recall. Good luck

 

[20-100]

You could try to report it to the financial regulator in Belgium though I don't know the name of that organisation, perhaps you can google it in French or Dutch. I dont know what they can do, maybe not that much due to all the overseas accounts and fake identities these guys use. You should accept that the money is probably lost.

Be aware that you will be receiving more calls from the same fraudsters, they will have different excuses and may even offer to recover your money, however they will be crooks trying to steal more money from you, dont fall for it.

I will contact to financial regulator but I'm afraid there's not much they can do.
I guy will contact me again next week as he was trying to get me to invest even more to get a bigger return. I will tell hem I know it's a boiler room operation, let's see how he will react.

Thanks a lot for your reply

 

[20-100]

If your money transfer is still a bit fresh, few weeks, you can try to do over your house bank a money recall. Good luck

I transfered the money about 3 weeks ago. I'll contact my bank tomorrow to see if they can do something.

Thank you

 

[Ainka]

hurry, and press them a bit, sometimes, they just say , thats to late.
Tell them, you think thats a fraud and it is urgent. If they don't do it make asap a report by the police and go with your report number again back to the bank. They will have to try it. Can be that the receiver bank refuse it, than we have to see.

 

[Pathwind]

Shaw Capital Management is a boiler room scam. Don't be a fool.

The business(es) listed below have made unsolicited calls or sent emails about investing, financial advice, credit or loans and do not hold a current Australian Financial Services (AFS) licence or an Australian Credit licence from ASIC.

ASIC advises you not to deal with these businesses. More information on dealing with investment scams and banking and credit card scams.



Shaw Capital Management
7/F Yeiji Building
641-11 Yeoksam-dong Gangnam-gu
Seoul, Korea
Ph: 82 2 398 5852
Fax: 82 2398 5853
Shaw Capital Management - Investment Innovation & Excellence

 

[whistler_man]

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.....

Great Idea!!
I have worked in that industry and can describe exactly how they sound so convincing and the process in which they operate and control the punter thru the deal.
We need to post the 1st call scripts so people know when they are hearing these tactics and can hangup on them.
If you get a call from a stranger claiming to be a Senior Portfolio Manager and immediately starts trying to control the conversation, It's probably a boiler room. They have a method for getting you to buy. It's called CLID, Control=If you can control the guy you have a chance to sell him. Liquidity=They will tell you about the FANTASTIC returns and give example of MIMO=Money in=Money out ( your profit if you invest. Then say something like " Those are fantastic returns for only six months. Don't you agree?" Then ask if you are liquid for $50k. Most people are not but that gives them some credibility by asking for too much. If you say thats too much then they have rebuttals. "John, I'm a businessman and you are a businessman. I'm much more interested in your repeat biz, etc. If $50k is too much start with a smaller amount. The percentage profit is the same. Judge me on the results. Blah blah blah.
They have a convincing rebuttal for every conceivable objection you can come up with. "I need totalk to my Lawyer, Accountant Wife etc." "Your WIFE!? John, when is the last time you came home and caught your wife reading the Wall Street Journal?
Next with CLID, we have Interest. You have to be interested in making those kind of profits. They say No Greed, No Need.
And last there is Decision maker. They will ask you if you make your own investment decisions.
If they feel they have CLID with you then they will not put down the phone until they close you. You will go round and round with them dropping the position from $50k to $45k to $40 k . . . until they find a comfortable amount for you to invest The boiler room minimum is usually $5k. Then you agree to buy and need to talk to a "Compliance Officer" for your protection. This is usually the room manager calling after 10 min and will inform you that the call is being recorded.BUlls###! OH! And then they will get serious and give you the "Button Up" speach. That bit about how you are going to make a lot of money and just follow my advice and we will make a lot of future trades together. He will say, " I do 90% of my biz over the phone and for that reason my word is my commitment to my clients.. . All I ask from you is the same consideration, Do I have your word that you will make the transfer? Then, Are you sure? Ok your word is good enuf for me.
Then you will recieve the documents and TT instructions so you can send money. Then the "broker", usualy some ****** from the east end or liverpool will get $100 on his desk for a complied deal.
I'm tired and is is late. I will continue to share my knowledge about these scammers as I have time. Cheers to all you boiler room scum. Your world just got smaller!

 

[20-100]

Because I get many cold calls from boiler rooms, I will just ask the name of their company and hang up.
I'll post the names of those "companies" here on the forum in order to warn others...

 

[friday76]

Because I get many cold calls from boiler rooms, I will just ask the name of their company and hang up.
I'll post the names of those "companies" here on the forum in order to warn others...

Perhaps some of the companies who contacted you are on my list. Let me know if they are. This list was produced by summing up the well known attributes, or trail that they leave behind in the wake of their illegal activities, cold calling, privacy protect, inconsistent data, geolocation etc..Their new ploys of cloning respectable financial institutions is not a clever one and the use of UK beneficiary banks will definately hang them. If you are a victim reading this and you have sent money to a UK bank, it is your duty to name and shame these banks on this forum, because they are party to the fraud. Doing nothing helps no one except the fraudsters.


Atlantic International Partnership

Leading The Way Forward In Fund Services - Apex Fund Services
Apex Holdings Limited
Abberley Capital - Welcome
Abbott's Investment Group
ARC EQUITIES REAL ESTATE BROKERAGE
Blackhawk Mines Corp.
(Blackhawk Mines Corp.)
Arrow Merger Consultants
A To Z Investment Advisor

Bishopsgate Capitals
Blackwood
Brightbridge Wealth Management, Inc.
belfastcapital.com - Home
Blue Sky Management Ltd.
Welcome to BlueSky Equity Management
Blackhawk Mines Corp.

Capital Alternatives
www.centurydirectgroup.com
Capital Commodities (UK) LTD
Specialist Resource Fund Manager | Mutual Fund | Craton Capital
Cuentas en Suiza, Asesoria Financiera, Offshore Banking | CR Investment advisors
Cedrus Investments
Cadman Merger and Acquisition
Carbon Credits Australia,Carbon Investments,alternative investment, Capital Alternatives
Home
Compare Your Investments*|*
www.cable-group-uk.net

****** United Kingdom
Devonshire & Douglas Capital Partners
Dynamic Management Services, Inc.
Welcome to Dailey Securities, Inc.
www.deveregroup.com

Economic Frauds / Protect your self against fraud
Eden Brown Group
Elite Independent Financial Advisors
Eldorado Gold Corp. - Page - Fri Apr 27, 2012
www.energygroupinternational.biz
Edward Jones Group - Home Page


FWM Company Limited
Fisher Investments | Official Company Website
www.franklintempleton.com
Home
www.financialelite.co.uk
Fluid Capital
Fisher Capital - private equity - commercial real estate

Green World - HOME
GB Global Mining AG
Global Green Agriculture I - GlobalGreenAgriculture : offering socially responsible agriculture investments
index
Welcome to Global Investment Group - Home Page
Global Capital Management

Infinity International Group
iTrade Index Solutions | Index Binary Trading Australia
index
Isaac Capital Management

LUX Investment Group
.::: Advanced Global Trading (AGT) :::.

www.macamgroup.com
Home | Minsheng Corp.
Mona Minas - Gold Mining Company
www.mlsecurities.net
Morris Merger Consultants

Navasota Group - Build Your Future With Us
NABSECURITIES, INC. : Home
New Dynamic Group
Nova UK Ltd
Selling a Business | Company Valuation | Mergers and Acquisitions (Selling a Business | Company Valuation | Mergers and Acquisitions)

www.nazczmining.com

Olta Capital Management Incorporation

Selling a Business | Company Valuation | Mergers and Acquisitions
Phillips Mason Corp
Primrose, Sow the seed... reap the rewards
Paragon Capital Partners - Merchant Banking
www.panmuregordon.net
The Pinnacle Group
Provideo Financial
Pretium Ventures
Pratt International KPO, LLC
Phoenix Capital Partners: Energy, New Energy and Telecoms Finance Solutions
Selling a Business | Company Valuation | Mergers and Acquisitions
Platinum Account Group
Phoenix International - Investment and Asset Management Service

Russell Merger Group
The Rose Partnership
Rose Capital

If there is a mistake in this list post to this forum. If you have dealt with a boiler room recently and their name is not on this list I encourage you to add to this list asap.

Economicfrauds.com appears to be a recovery operation. If you study it carefully you will see that 90-95% of the 'firms' mentioned do not exist, are bogus or can't be found. Clearly the site would be useless if all were bogus.

Two sites Welcome to BlueSky Equity Management and Strauss Consultants, Inc. | Specializing in Publisher Sales Representation, Blogging and Internet Marketing have recently had malware associated with them, so that if you visit these sites you elicit a piece of malware. One such piece of malware was loadm.exelator.com which was elicited by visiting www.bleskyequity.com. Not sure if it still applies, for obvious reasons. If it happens to you you need to go to Support at google.com who will advise you.

Primary producers of malware are oxgrove.osa.pl/, stecdon.ru/, isabelflydo.osa.pl/ Secondary sites involved are pokosa.com and badosov.com.

Note that these are ALERTS, meaning that you should be on your guard when investing your savings. Do your homework, ring the FSA on their 0845 number, go to forums and check with a responsible individual, such as your local bank investment manager. You shouldn't have the attitude of 'I know best!'

Best of luck,
friday76