Boiler Room Scams

chrisincrawley said:
Hi guys
perhaps this will be a new one to you, and any advice is appreciated.
I was scamed about 2 yrs ago and really gave up on it as 'experiance'. I currently have 2400 worthless shares in a company called biosecurity, originally brought form js knight(ring any bells)and now managed!! by merceram.
But a company called lambert mcmillan rang saying i had 18000 shares in cobra energy (which i originally purchased, but thought was sold to buy the biosecurity) and they have a client wanting to buy them for $54000!!
MMmmm, so i did the NDA, then the stock purchase agreement, then the escrow form, then they said the shares need to be unregistered, and that the escrow company, who are albany-capital, will do that for $1000, $850 being payed to a third party lawyer.
They sound so genuine, and i am so tempted to go for it, help!!
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gullable is the word.
 
DT said:
Is this a wind up?

come on you've been scammed once already - now someone you don't know phones you up out of the blue and wants money from you again.... :whistling
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and to buy shares you didn't know that you had.:LOL::LOL::LOL::LOL::LOL:
 
chrisincrawley said:
Hi guys
They sound so genuine, and i am so tempted to go for it, help!!
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Christin

When you were first scammed I bet the scammers 'sounded so genuine' because that's what scammers do, they'll tell people anything so they can scam their cash.

The only reason you're being called is because you're known as a 'mark', ie somebody who is gullible and has fallen for scams in the past. Therefore probability states that you have more chance falling for the lies and deceit again.

Pay any money to these scammers, and that's what they are, regardless of what they say and it will be stolen from you again.............

PS. We're onlyhaving a go at you for your own good, and not to be nasty.
 
DK Group

Thats quite a barrage of replies there on that one! The boiler room industry is so beaten up now they will take anything and say anything to get it, there is no making money from them though, the "sell and send me the difference" wont work, they will come out with another story as to why.

If any one is aware of DKGroup, Dk Group, they are in shipping (some crock of making tanker ships more efficient apparently) please let me know your experiences. www.dkgroup.eu I own a little of this (bought as a gamble at the time,) seems a little difficult to establish quite what is going on though. Company seems real enough, as does the idea, but am hearing some conflicting reports. It has all the hallmarks of stock that will never float when I bought it, and as I said, I bought knowing a lot of the risks (although probabaly not all!) Anyone else own any stock in it? and what is your take on this so far?
 
Has anybody come across Pacific Capital Trading Ltd of Hong Kong? I've been scammed by them. They claim to be a broker for futures options. They have a website which looks genuine enough on the face of it (Pacific Capital Trading) and after couple of phone calls from professional sounding "analysts" I was duped into buying a some futures options for a few thousand pounds. They then passed me onto another "analyst" who tried to get me to invest a much larger amount. By this time I'd done some more checking and also read up about boiler room scams (far too late I know) and realised they weren't looking too genuine at all. The strike price was exceeded on my futures options but they weren't exercised and I got fobbed off by a poor excuse. The search engine references to them are obviously free news items which anybody can place. The Hong Kong Exchange and Clearances commission have never heard of them, although they claimed initially to be regulated by them. I got passed on to a couple more traders from the same company, each spinning the same bull about how they normally deal in much bigger trades for institutional investors, and trying to suggest I get into a profit position by investing more. They weren't interested at all in the status of the futures options I already had. I'm feeling pretty sick and stupid about this whole thing - I've learnt an expensive but important lesson.
 
Metalled

contact the bank where you sent your money to and tell them the account is being used for money laundering by a boiler room. Maybe there will still be some money in it and so there's a good chance it will be frozen while they investigate things. Basically anything to mess the scammers around.
 
Thanks for the tip Anley.
I phoned the bank in Hong Kong. They were helpful but told me I need to get Hong Kong Police on the case first, then the account will be investigated and it can be progressed that way.
 
Want to sell ATS shares?

anley said:
Pat, trust me on this one you're being setup for a double con.

They let you make money on a few trades then say 'see aren't we hot, you can make real money with us so put up some more and you'll really be in the money'.

Trouble is you'll never see that money again.

Again TRUST ME ON THIS....
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If you want to sell your ATS shares, send contact details to [email protected] - you may be pleasantly surprised.
 
Airthrey Capital said:
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.....
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Jupiter Capital Research and Fidelity Capital Reserch. Both I am left to believe are operating from Madrid.
Nigels
 
Spartamatrix scam?

This may be a no-brainer obvious scam, but please bear with me as a newbie. I have been cold-called (number withheld) by a very credible rep called Adam Dawson from a security firm called Spartamatrix offering share deals. First web search shows that name was involved in a scam in 2004 run by a Peter Clark, but I find the firm is registered as legit in australia. Dawson told me that was a scam on Spartamatrix itself, with false reps using their name etc. He gave me their reg. number 37922037 and invited me to research his firm and several sources seem to confirm it checks out. common sense and my suspicious nature are not convinced however. Has anyone had dealings successful or otherwise with Spartamatrix?
 
I have had dealings with barclay-hoffman for the past year and invested a great deal of money, i now cant contact them. Any one know what is going on. Jack Rowlins first contacted me in July 2007 and i bought shares in Royal Petrolium, he then put me on to Charles Maxwell and this year i bought shares in another company worth £31,000. I have been in touch with both companies who say my share certificates are legal. The company in America phoned me today after receiving my e-mail, he checked my certificate number and says its fine. I feel like i have been kicked in the stomach, i feel so foolish. I'm not a young kid but a mature women who was taken in. I just wanted a better interest on my money to put my daughter through university which she starts in September. I have had to fight for everything I have, it makes me feel sick to think i could loose everything by conmen.
 
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kenneth127 said:
I have had dealings with barclay-hoffman for the past year and invested a great deal of money, i now cant contact them. Any one know what is going on. Jack Rowlins first contacted me in July 2007 and i bought shares in Royal Petrolium, he then put me on to Charles Maxwell and this year i bought shares in another company worth £31,000. I have been in touch with both companies who say my share certificates are legal.
Click to expand...

you should post the names of the firms, and types of shares you bought here, along with the "broker" firm you bought them through. others may be able to help you. Just because a share is legal, doesnt mean its worth anything on the open market if you bought restricted shares.
 
another check is the name-sounds obvious but the scammers align themselves with reputable pension/asset/fund managers to fool the less wary. for example jupiter, lombard etc.
 
kenneth127 said:
I have had dealings with barclay-hoffman for the past year and invested a great deal of money, i now cant contact them. Any one know what is going on. Jack Rowlins first contacted me in July 2007 and i bought shares in Royal Petrolium, he then put me on to Charles Maxwell and this year i bought shares in another company worth £31,000. I have been in touch with both companies who say my share certificates are legal. The company in America phoned me today after receiving my e-mail, he checked my certificate number and says its fine. I feel like i have been kicked in the stomach, i feel so foolish. I'm not a young kid but a mature women who was taken in. I just wanted a better interest on my money to put my daughter through university which she starts in September. I have had to fight for everything I have, it makes me feel sick to think i could loose everything by conmen.
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Royal Petroleum is a company mentioned in this fraud..

I Lost £150K To Boiler Room Fraudsters - The Sunday Mail

I suggest you contact City of London Police for starters and take a look at the FSA website - they may have some info for you there.
 
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