DionysusToast
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Boiler Room Scams
- Thread starter Airthrey Capital
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- Watchers 791
Hi there,
thanks a lot for this thread, even though I am not a victim my self it took about two weeks until I could finally find something like this.
Just very briefly as this page is entirely new to me and all of this is still at the very beginning.
@hjestic: Though we have seen vague links between SF and some other similar sites sofar none to an entity named "paragon". If you have it feel free to share it here, please.
@whistlerman: Your postings are in full accordance with preliminary results regarding the use of business-centers, etc. Regarding their physical location there is a suspicion that they might be in the SEA-region as apart from Europeans they see to be targeting preliminary Australians and there is one investor warning on point for one of their affiliates from FSA New Zealand.
Regarding this year's "The Wolves of Bangkok" one of the accounts does point into the direction of Malaysia which is in accordance with one statement made in the article.
@ vladimir_sg: This "regulator statement" is just an execuse. They are not regulated anywhere and do not even claim this. Also, I fully agree with whistlerman: Please do not send a single cent more, regardless what they say come up with next and regardless of whatever (!!!) type of entity the get you in touch with including but without limitation ("stock transfer agents, tax advisors, debt collection recovery services, law firms...").
Also in the unlikely even you should receive anything at all, correct this here. Sometimes internet threads like this are helpful as they can read this as well it mostly depends upon the amount lost.
Best HB1
"If one searches the internet deeply enough the internet as some point starts searching for you."
thanks a lot for this thread, even though I am not a victim my self it took about two weeks until I could finally find something like this.
Just very briefly as this page is entirely new to me and all of this is still at the very beginning.
@hjestic: Though we have seen vague links between SF and some other similar sites sofar none to an entity named "paragon". If you have it feel free to share it here, please.
@whistlerman: Your postings are in full accordance with preliminary results regarding the use of business-centers, etc. Regarding their physical location there is a suspicion that they might be in the SEA-region as apart from Europeans they see to be targeting preliminary Australians and there is one investor warning on point for one of their affiliates from FSA New Zealand.
Regarding this year's "The Wolves of Bangkok" one of the accounts does point into the direction of Malaysia which is in accordance with one statement made in the article.
@ vladimir_sg: This "regulator statement" is just an execuse. They are not regulated anywhere and do not even claim this. Also, I fully agree with whistlerman: Please do not send a single cent more, regardless what they say come up with next and regardless of whatever (!!!) type of entity the get you in touch with including but without limitation ("stock transfer agents, tax advisors, debt collection recovery services, law firms...").
Also in the unlikely even you should receive anything at all, correct this here. Sometimes internet threads like this are helpful as they can read this as well it mostly depends upon the amount lost.
Best HB1
"If one searches the internet deeply enough the internet as some point starts searching for you."
vladimir_sg
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Standard Fidelity is a scam!
I write this post to confirm finally that Standard Fidelity is a scam! They do not contact me during 20 days after they promised to sell my stocks and send money very soon.I submitted police report. Will appreciate any info and help.
I write this post to confirm finally that Standard Fidelity is a scam! They do not contact me during 20 days after they promised to sell my stocks and send money very soon.I submitted police report. Will appreciate any info and help.
Hi Vladimir,
we will most probably file a police report here as well but I am waiting for final confirmation. Is there any way we could communicate in a none-public way, please? For the moment all I have in mind is to to exchange information like banc accounts being used etc.
Best HB1
we will most probably file a police report here as well but I am waiting for final confirmation. Is there any way we could communicate in a none-public way, please? For the moment all I have in mind is to to exchange information like banc accounts being used etc.
Best HB1
All this binary option "trading platforms" are a scam, they talk their victims into higher and higher "trades", until there is nothing to get anymore, then go silent. The victims don't know who they were really talking to, got nothing to show to the police when they report their case....similar psychology as the boiler room crooks are using, play along and we make you rich, do not play along and you will lose all you have put into the game so far. As posted by blackwatch earlier here, read this one and you will be cured from "binary online" forever:
http://www.timesofisrael.com/the-wolves-of-tel-aviv-israels-vast-amoral-binary-options-scam-exposed
Besides Israelis there is also strong involvement of Ukrainian scum, stay away from those crooks.
2 follow up scams to report, Value Management is informing their victims that they will shut down and hand over their "clients" to St. Claire Capital Group, based in Tokyo....all bs of course, its time for a name change again, Value Management was already too easy to identity as a scam and they couldn't find new victims under that name anymore.
Victims of the boiler room "Westhill Consultants" from Jakarta (actually the master crooks are sitting in Manila), are getting contacted by new fraudsters going by the name Seagate, same here, its just the next act, don't buy the crap they give you on the phone and don't send them a single cent.
Victims of the boiler room "Westhill Consultants" from Jakarta (actually the master crooks are sitting in Manila), are getting contacted by new fraudsters going by the name Seagate, same here, its just the next act, don't buy the crap they give you on the phone and don't send them a single cent.
Hi there,
I fully agree with all of you. The ToI also mentioned boiler rooms located in Romania and South Africa.
@vladimir: The first step is to contact your bank or credit card provider and to check if they can cancel any transfer made. Sometimes this is possible but mostly it fails as applicable deadlines usually have passed once the fraud is discovered as such.
Then you take a look at your police report and check if there is also something included there which is of concern to financial regulators (bonus payments or faked withdrawal taxes or broker comissons in particular). Then you send copies of this report to each and every FSA potentially having jurisdiction here. I do not know you file, so I can not tell which ones they mentioned to you. Cleary you should at least send it to FSA Korea and CySEC because they use postal addresses there but there might be many more countries involved. (You can probably skip Japan, as they have already issued a warning).
Then you put your case on the other more general consumer protection forums like as well like complaintsboard, ripoffreport and maybe the FPA (it is not a forex-case, so it it is unclear if the last ones really want it).
All these measures will not bring the money back. They are just necessary to warn future victims and to make these warnings easier to find on the internet.
Then you write a demand letter to them, just write I have been defrauded because ...(then give details) and I want my money back by...(some date). Use a fax or Fedex/DHL as YOU will have to prove they in fact received it (so keep the fax transmission or an acknowledgment of receipt). Most likely they won´t respond to this or just come up with more excuses just ignore these. This is necessary as otherwise you will have procedural problems with potential next steps.
best Hb1
I fully agree with all of you. The ToI also mentioned boiler rooms located in Romania and South Africa.
@vladimir: The first step is to contact your bank or credit card provider and to check if they can cancel any transfer made. Sometimes this is possible but mostly it fails as applicable deadlines usually have passed once the fraud is discovered as such.
Then you take a look at your police report and check if there is also something included there which is of concern to financial regulators (bonus payments or faked withdrawal taxes or broker comissons in particular). Then you send copies of this report to each and every FSA potentially having jurisdiction here. I do not know you file, so I can not tell which ones they mentioned to you. Cleary you should at least send it to FSA Korea and CySEC because they use postal addresses there but there might be many more countries involved. (You can probably skip Japan, as they have already issued a warning).
Then you put your case on the other more general consumer protection forums like as well like complaintsboard, ripoffreport and maybe the FPA (it is not a forex-case, so it it is unclear if the last ones really want it).
All these measures will not bring the money back. They are just necessary to warn future victims and to make these warnings easier to find on the internet.
Then you write a demand letter to them, just write I have been defrauded because ...(then give details) and I want my money back by...(some date). Use a fax or Fedex/DHL as YOU will have to prove they in fact received it (so keep the fax transmission or an acknowledgment of receipt). Most likely they won´t respond to this or just come up with more excuses just ignore these. This is necessary as otherwise you will have procedural problems with potential next steps.
best Hb1
Pat, you seem to be in the believe that Interpol is a police force that can act worldwide, have to admit that I thought the same until I was ripped off by a boiler room. There is no such thing as Interpol, there are only local police forces with their jurisdictions, Interpol is coordinating those police forces, but if a local police force is corrupt and doesn't play along there is nothing Interpol can do, they are absolutely powerless. The boiler room crooks take advantage of this flaw in international police work, its a simple but effective strategy.
hi all,
@ tom2048: Is there any provable link between standard fidelity and the names you have given above ("value managment", st. claire capital, westhill consultants and seagate?). I have seen some to other older boiler rooms but not to any of these names?
@vladimir: just got the rest of the file, okay we will file a police complaint as well (as fruitless as this usually is the very end). As this platform does not have a conversation function (or does it and I am just missing it?) and obviously, nobody wants to put an email-address here, what I suggest is this: Set up a free encrypted mailbox here (https://tutanota.com/de/) and put this address here, I will then contact you via my own account there. (This is just for the beginning, things can be normalized later).
best HB1
@ tom2048: Is there any provable link between standard fidelity and the names you have given above ("value managment", st. claire capital, westhill consultants and seagate?). I have seen some to other older boiler rooms but not to any of these names?
@vladimir: just got the rest of the file, okay we will file a police complaint as well (as fruitless as this usually is the very end). As this platform does not have a conversation function (or does it and I am just missing it?) and obviously, nobody wants to put an email-address here, what I suggest is this: Set up a free encrypted mailbox here (https://tutanota.com/de/) and put this address here, I will then contact you via my own account there. (This is just for the beginning, things can be normalized later).
best HB1
Washington Capital Group
Hi guys,
First of all, thanks to this forum for all these Information on Investment scams. You saved me from doing a stupid mistake.
Watch out for "Washington Capital Group". They are calling from Tokyo to get you to buy BRILLIANCE Automotive Shares, as they allegedly plan on getting partnered with Tesla. It is exactly the same Story as you saw in previous posts. A guy called Patrick Connor calls and tries to persuade you to make an incredibly lucrative Investment, as the Chinese government is going to get involved in the Brilliance. Everything goes so quickly as they do not have time to lose. My advise, always take your time with Investments, because you do not have Money to throw away. 15 minutes later Steven from compliance calls you and records your order.
Then he sends you some papers and officially looking documents. As you are told to pay within the next 3 days, they make sure to call you the next morning, in order to see if everything went according to their instructions.
The catch is that the Money does not go to Tokyo or New Delhi where they are allegedly located, but instead it goes to Indonesia. Very strange, huh?
So, Keep off These guys!
Hi guys,
First of all, thanks to this forum for all these Information on Investment scams. You saved me from doing a stupid mistake.
Watch out for "Washington Capital Group". They are calling from Tokyo to get you to buy BRILLIANCE Automotive Shares, as they allegedly plan on getting partnered with Tesla. It is exactly the same Story as you saw in previous posts. A guy called Patrick Connor calls and tries to persuade you to make an incredibly lucrative Investment, as the Chinese government is going to get involved in the Brilliance. Everything goes so quickly as they do not have time to lose. My advise, always take your time with Investments, because you do not have Money to throw away. 15 minutes later Steven from compliance calls you and records your order.
Then he sends you some papers and officially looking documents. As you are told to pay within the next 3 days, they make sure to call you the next morning, in order to see if everything went according to their instructions.
The catch is that the Money does not go to Tokyo or New Delhi where they are allegedly located, but instead it goes to Indonesia. Very strange, huh?
So, Keep off These guys!
Wolverine9
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Same thing happened to me, someone named James Walker called urging for me to but stocks of EXELIXIS pharmaceutical as something big is about to happen... same story as above.
Rather naively, I gave the verbal order for the buy, next day I get an email with the documents, asked to pay in 3 days, and got the call etc.
Money (US$5,400) is to go to Indonesia for tax reasons. Cannot go to Japan.
Now they are calling every 10 minutes trying to convince me that I have to wire the money over.
Since they seem to have a website etc can they actually do anything about it?
Did they keep calling and bothering you?
How did you handle it?
Pat494
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Buy a whistle and every time they call blast the whistle at them.
Wolverine9
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whistler_man
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If you really want to screw them . .
If you really want to screw them, get the docs and publish the information. That way the company name, the stock and their bank is out there. You can do that here but this site blanks out some company names and other info. Craigslist Rants & Raves section posting will come up on a Google search so is effective. When someone Google's the "deal" it will come up and they will know it's a scam.
And, the Boiler Room will have problems getting others to pay if they see this as well as the ones that paid already will be able to contact the bank and possibly get their money back. The ones that paid. will not "load" that's the big thing that will cripple the Boiler room. They will have to scrap the deal and that will cost them Millions.
Better than an annoying whistle.
If you really want to screw them, get the docs and publish the information. That way the company name, the stock and their bank is out there. You can do that here but this site blanks out some company names and other info. Craigslist Rants & Raves section posting will come up on a Google search so is effective. When someone Google's the "deal" it will come up and they will know it's a scam.
And, the Boiler Room will have problems getting others to pay if they see this as well as the ones that paid already will be able to contact the bank and possibly get their money back. The ones that paid. will not "load" that's the big thing that will cripple the Boiler room. They will have to scrap the deal and that will cost them Millions.
Better than an annoying whistle.
blackwatch
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I second that, the more they know the better it is though I very much doubt investors will choose to do their due diligence before parting with their money.
I would also choose to post it on this forum. It has been done before and will be most likely done again. I must say though I have not seen any information removed. Perhaps I was not looking.
I would also welcome receiving any such information for my own records.
You can email me at [email protected]
Wolverine9
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I will email you the docs i received from them.
I also posted what happened on page 543 of this blog.
Would you like any more details posted here from me, anonymously preferably?
They are now calling and threatening that they will take legal action against me in order to get me to pay for the supposed "purchase"...
Can they actually do anything?
whistler_man
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They may huff & puff but can't blow your house down
They can do absolutely nothing. They will threaten to refer you to the "legal department" but that will just be another broker or mate of the guy that wants his commission on your "investment".
First, you will be called by a TQ. This person just gets your email and maybe gives you some details about an "offer" and gets you to accept a call from another.
Second, the "AO- Opener" will call and try to get you excited about a deal. His job is to get you in at any level down to $5,000.00 minimum. They will usually start asking for $50K. And work you around and round til they find a "comfortable level" while all the time promising the % gains will be the same so start small and judge him or her on the returns. After you agree and he "Buttons you up", meaning you agree to follow his advice and sell when he advises you. Get you to "Give your word" you will pay and tell you "How it works", He secures your position and sends you some docs. Account opening form, the stock details of the trade, the TT instructions listing their bank and a Tax exempt form since you are not a US citizen. (These guys NEVER sell to an American) They are afraid of the SEC. Mainly because the stocks they offer are traded on the OTC-BB or Pink Sheets and they manipulate the price by buying a couple thousand shares at .20 cente higer. That's why you see the price going up but no volume.
Third, you will be called by a "Compliance Officer" who will "Record the Call" for your protection. (Bull****e it's never recorded).
"You agree to purchase shares and pay in 3 days . . . "Give your word that you will". Then "I look forward to a long and profitable relationship. Welcome aboard!".
Next, the "Driver" will call you and help you with the docs. His job is to "drive" you to the bank. He will offer to help you with Electronic Transfer.
When you "Kick", meaning not pay, the "Driver" gives it back to the broker. He will call you back to find out why. He gets 10% to 25% commission on this deal so he's gonna try hard.
When he runs out of options, another guy will call and threaten will legal department. Tell him to go chase himself. There is absolutely nothing they can do.
Post the info here and send to Blackwatch. He seems to be diligent. Me, I just wanna help people to not fall for this crap. It appeals to you greed and fear of loss (Great returns or only a few shares left and they may be gone by end of day, blah blah blah)
Don't believe it.
But if you do pay, you have lost your money for good. And then you will get a call from a "Loader" most likely will introduce himself as V.P. of Institutional Trading.
This is the most dangerous guy you will ever meet. He will talk to you and very slyly get you to reveal you deepest darkest secrets like, net worth, other positions you hold (gold, jewelry), your risk level etc. Then he will go for the jugular and they get 1/4 Mil on up from you. He splits that commission with the original broker.
Here is some information on the biggest guys in the business.
http://www.andrew-drummond.com/2017/04/exclusive-boiler-room-bag-men-tell-of.html
Cheers!
They can do absolutely nothing. They will threaten to refer you to the "legal department" but that will just be another broker or mate of the guy that wants his commission on your "investment".
First, you will be called by a TQ. This person just gets your email and maybe gives you some details about an "offer" and gets you to accept a call from another.
Second, the "AO- Opener" will call and try to get you excited about a deal. His job is to get you in at any level down to $5,000.00 minimum. They will usually start asking for $50K. And work you around and round til they find a "comfortable level" while all the time promising the % gains will be the same so start small and judge him or her on the returns. After you agree and he "Buttons you up", meaning you agree to follow his advice and sell when he advises you. Get you to "Give your word" you will pay and tell you "How it works", He secures your position and sends you some docs. Account opening form, the stock details of the trade, the TT instructions listing their bank and a Tax exempt form since you are not a US citizen. (These guys NEVER sell to an American) They are afraid of the SEC. Mainly because the stocks they offer are traded on the OTC-BB or Pink Sheets and they manipulate the price by buying a couple thousand shares at .20 cente higer. That's why you see the price going up but no volume.
Third, you will be called by a "Compliance Officer" who will "Record the Call" for your protection. (Bull****e it's never recorded).
"You agree to purchase shares and pay in 3 days . . . "Give your word that you will". Then "I look forward to a long and profitable relationship. Welcome aboard!".
Next, the "Driver" will call you and help you with the docs. His job is to "drive" you to the bank. He will offer to help you with Electronic Transfer.
When you "Kick", meaning not pay, the "Driver" gives it back to the broker. He will call you back to find out why. He gets 10% to 25% commission on this deal so he's gonna try hard.
When he runs out of options, another guy will call and threaten will legal department. Tell him to go chase himself. There is absolutely nothing they can do.
Post the info here and send to Blackwatch. He seems to be diligent. Me, I just wanna help people to not fall for this crap. It appeals to you greed and fear of loss (Great returns or only a few shares left and they may be gone by end of day, blah blah blah)
Don't believe it.
But if you do pay, you have lost your money for good. And then you will get a call from a "Loader" most likely will introduce himself as V.P. of Institutional Trading.
This is the most dangerous guy you will ever meet. He will talk to you and very slyly get you to reveal you deepest darkest secrets like, net worth, other positions you hold (gold, jewelry), your risk level etc. Then he will go for the jugular and they get 1/4 Mil on up from you. He splits that commission with the original broker.
Here is some information on the biggest guys in the business.
http://www.andrew-drummond.com/2017/04/exclusive-boiler-room-bag-men-tell-of.html
Cheers!
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