# Unauthorised Companies/Firms, Boiler Rooms etc.



## noirua (14 April 2007)

An increasing number of companies are operating unauthorised and many as boiler rooms. Australia has its own lists. Firstly, many companies that targeted the UK and America are turning to Australia and other countries as targets. 

The following companies listed by the UK may not be banned from operating in Australia. You may wish to make a note of them, just in case they contact you.

http://www.fsa.gov.uk/pages/Library/Communication/PR/2005/039.shtml

http://www.fsa.gov.uk/pages/Doing/Regulated/Law/pdf/Knight_5sep06.pdf

http://www.fsa.gov.uk/pages/Doing/Regulated/Law/Alerts/overseas.shtml


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## noirua (16 April 2007)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

Boiler Rooms. Don't say you didn't know and never keep what they say to yourself, always talk to others and seek their advice. Don't be fooled, they are very clever and extremely experienced in conning people out of their money " average $50,000 ". Seems unbelievable but true.

http://www.crimes-of-persuasion.com/Crimes/Telemarketing/Outbound/Major/Investments/boiler_rooms.htm

Investment fraud by boiler rooms.  http://www.stock-watchers.com/


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## noirua (16 April 2007)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

This write up may be useful to anyone who has been a victim of fraud. The rest is just contacts which are no use in Australia. Worth reading:  http://www.unjustis.co.uk/Support/Support.htm


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## noirua (16 April 2007)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

The following link will take you to a website that shows information about certain individuals. They are known to have connections in Asia and New Zealand:  http://www.unjustis.co.uk/Cases/Bantock/Rogue_Traders/Rogues.htm

You may think that Australia has its share of criminals in all sections of society. Read these links and you realise it's a quiet place to live compared with the UK: http://www.unjustis.co.uk/index.htm http://www.unjustis.co.uk/News/News_Roundup.htm


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## noirua (23 April 2007)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

Cambridge Capital Trading: a boiler room operating from a fictitious London address that stung Aussies and Singaporians for US$600,000:  http://www.smh.com.au/news/business...boilerroom-scam/2007/02/22/1171733949439.html


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## noirua (26 April 2007)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

All Australia now as we go to "Australian Securities and investment Commission - All Documents - List of Unlicensed Overseas Cold Callers":  http://www.asic.gov.au/fido/fido.nsf/byid/EA8A282D4CD35B2ACA256B02002F8163?opendocument

If you are owed money, then search this index. Search in basic fashion, for instance, "J.S.Knight and CO", search "knight":  http://www.edge.asic.gov.au/unclaimed/simplequery.html


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## noirua (28 April 2007)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

A Boiler Room Interview for Staff. Set up to ROB you of your honestly made fortune. Evil are these people, so, "BE ON YOUR GUARD":

http://www.youtube.com/watch?v=zvICN8DNMpY


Boiler Room - "THE FIRST SALE":

http://www.youtube.com/watch?v=TbIRedOqDwE&NR=1


No chance of the Wife getting in the way of Conning this guy out of his fortune. These fellers are Evil B*******:

http://www.youtube.com/watch?v=1C6ZeKpx7xY&mode=related&search=


Boiler Room, "Chasing them up" - don't get busted:  http://www.youtube.com/watch?v=ou44IfLCccs&mode=related&search=


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## noirua (30 April 2007)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

This video shows what these salesmen face - would this guy make a sale to you?
http://www.youtube.com/watch?v=TROhlThs9qY&mode=related&search=


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## RichKid (30 April 2007)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*



noirua said:


> This video shows what these salesmen face - would this guy make a sale to you?
> http://www.youtube.com/watch?v=TROhlThs9qY&mode=related&search=




Thanks for the public service and for the timely warning Noirua, it really is worth paying close attention to these things, loved the glengarry ross clip, will warm the cockles of Joe's heart!


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## noirua (7 May 2007)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

Hi RichKid et al, Hopefully this thread may forearm a few people, especially those with large sums sitting in their Bank Accounts.

If you think you are a victim of a Boiler Room Operation, then read this link:  http://www.stock-watchers.com/advice.html  How to avoid loosing your money: http://www.stock-watchers.com/avoiding_scams.html


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## noirua (21 June 2007)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

Only indirectly on topic. Sales not numbers, cold calling and success. Again, indirectly, we can perhaps all learn from the logic in this video.

http://www.youtube.com/watch?v=5WmrSJ97FH0&NR=1


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## noirua (22 March 2008)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

I can't imagine an Aussie falling for one of these tricks, but they do target the elderly who are sophisticated investors who may have lost the plot a bit and don't know it or Admit It.
From the U.K. the Financial Services Authority (F.S.A.) have got some money back for those who were conned:  http://www.fsa.gov.uk/pages/Library/Communication/PR/2008/020.shtml

Seriously though, we all get conned during our lives or make decisions we would prefer not to admit. So always report these matters, firstly to the police and to FIDO (A.S.I.C.) at:  http://www.fido.gov.au/fido/fido.nsf

Registered banned or disqualified people by A.S.I.C.- http://www.search.asic.gov.au/ban.html


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## Timmy (22 March 2008)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

How are threads made to be 'stickys' - to stay permanently visible on the forums?  This thread must be a strong candidate.  It really is very valuable information, I would say a community service, especially for those as Noirua points out "who may have lost the plot a bit and don't know it or Admit It".


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## prawn_86 (22 March 2008)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

Timmy,

threads are made sticky by us mods, with Joes permission.

While it is a very useful and informative thread, so are many others.

Perhaps the best thing to do is just to bump this from time to time, to make sure people view it.

thanks

Prawn


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## Timmy (22 March 2008)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

Thanks Prawn ...... errr....... Ray...


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## xyzedarteerf (25 March 2008)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

For those who have not seen the Boiler Room movie here are some classic scenes.

Group Interview


Boiler  Room First sale.


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## noirua (27 April 2008)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*



noirua said:


> I can't imagine an Aussie falling for one of these tricks, but they do target the elderly who are sophisticated investors who may have lost the plot a bit and don't know it or Admit It.
> From the U.K. the Financial Services Authority (F.S.A.) have got some money back for those who were conned:  http://www.fsa.gov.uk/pages/Library/Communication/PR/2008/020.shtml
> 
> Seriously though, we all get conned during our lives or make decisions we would prefer not to admit. So always report these matters, firstly to the police and to FIDO (A.S.I.C.) at:  http://www.fido.gov.au/fido/fido.nsf
> ...



Hi everyone, just bumping this thread on a Monthly basis. Hopefully none of us will be caught out, you have been, well, click on these links.

A story about a boiler room busted in 2006.  "Corporate enforcer busts $3.9m boiler room scam":  http://www.theage.com.au/news/busin...oiler-room-scam/2006/11/23/1163871549635.html


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## xyzedarteerf (27 April 2008)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*

with the amount of so called legit investment companies going down the drain its hard to see were the line is drawn.

by the way just had a letter from one of my old super fund advising there currently under administration, just wondering if super funds are the next to go down the gurgler with this credit crunch.


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## numbercruncher (27 April 2008)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*



xyzedarteerf said:


> with the amount of so called legit investment companies going down the drain its hard to see were the line is drawn.
> 
> by the way just had a letter from one of my old super fund advising there currently under administration, just wondering if super funds are the next to go down the gurgler with this credit crunch.





Wow what was the name of the fund you were in ?


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## noirua (12 August 2008)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*



noirua said:


> I can't imagine an Aussie falling for one of these tricks, but they do target the elderly who are sophisticated investors who may have lost the plot a bit and don't know it or Admit It.
> From the U.K. the Financial Services Authority (F.S.A.) have got some money back for those who were conned:  http://www.fsa.gov.uk/pages/Library/Communication/PR/2008/020.shtml
> 
> Seriously though, we all get conned during our lives or make decisions we would prefer not to admit. So always report these matters, firstly to the police and to FIDO (A.S.I.C.) at:  http://www.fido.gov.au/fido/fido.nsf
> ...



Just bumping this thread again in hopes none of us get caught out.
"Nearly $1 billion lost in 12 months..."


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## noirua (23 September 2008)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*



noirua said:


> I can't imagine an Aussie falling for one of these tricks, but they do target the elderly who are sophisticated investors who may have lost the plot a bit and don't know it or Admit It.
> From the U.K. the Financial Services Authority (F.S.A.) have got some money back for those who were conned:  http://www.fsa.gov.uk/pages/Library/Communication/PR/2008/020.shtml
> 
> Seriously though, we all get conned during our lives or make decisions we would prefer not to admit. So always report these matters, firstly to the police and to FIDO (A.S.I.C.) at:  http://www.fido.gov.au/fido/fido.nsf
> ...



More than just bumping the thread this time. Remember it is middle-aged people in the main, with stock market experience, who are conned out of an average $45,000.

The UK are changing the Law that applies to companies and individuals who request a list of investors names and addresses. The FSA is in the same role in the UK as ASIC in Aus.
"People who seek shareholders details will have to submit a claim to the company.
The company will have 5 days, and if it is concerned the request is not bona fide, it can refer the request to the courts.  The courts will deliberate and if necessary reject the request"


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## noirua (21 October 2008)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*



noirua said:


> Boiler Rooms. Don't say you didn't know and never keep what they say to yourself, always talk to others and seek their advice. Don't be fooled, they are very clever and extremely experienced in conning people out of their money " average $50,000 ". Seems unbelievable but true.
> 
> http://www.crimes-of-persuasion.com/Crimes/Telemarketing/Outbound/Major/Investments/boiler_rooms.htm
> 
> Investment fraud by boiler rooms.  http://www.stock-watchers.com/



Just bumping this thread in hope that none of us get caught out by the monsters abroad.


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## noirua (22 November 2008)

noirua said:


> An increasing number of companies are operating unauthorised and many as boiler rooms. Australia has its own lists. Firstly, many companies that targeted the UK and America are turning to Australia and other countries as targets.
> 
> The following companies listed by the UK may not be banned from operating in Australia. You may wish to make a note of them, just in case they contact you.
> 
> ...



Boiler Rooms defraud Australians from hundreds of millions of dollars each year. They go for those who are shareholders by obtaining details from companies registers or an employee at a bank or broker or an online website passes your information on. 

Many companies start with the name Global or International or use a name close to that of one you have heard before. BEWARE! BEWARE! BEWARE!  They are out to drain you of every dollar you have and are unscrupulous and absolutely don't care.

What to do?  Put the phone down immediately, DO NOT BE POLITE!


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## noirua (2 January 2009)

noirua said:


> Boiler Rooms defraud Australians from hundreds of millions of dollars each year. They go for those who are shareholders by obtaining details from companies registers or an employee at a bank or broker or an online website, passes your information on.
> 
> Many companies start with the name Global or International, or use a name close to that of one you have heard before. BEWARE! BEWARE! BEWARE!  They are out to drain you of every dollar you have and are unscrupulous and absolutely don't care.
> 
> What to do?  Put the phone down immediately, DO NOT BE POLITE!




Hundreds of Australians will be caught again in 2009 and millions of dollars will land up in the hands of the boiler rooms. 
Lend a friendly hand in 2009 to those you think could be vulnerable to an attack and could be left severely financially wounded.
Sophisticated investors, especially those who dabble a bit in dodgy stocks and take risks, will be caught in the net. Particularly middle-aged and older investors.


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## noirua (29 May 2009)

noirua said:


> Hundreds of Australians will be caught again in 2009 and millions of dollars will land up in the hands of the boiler rooms.
> Lend a friendly hand in 2009 to those you think could be vulnerable to an attack and could be left severely financially wounded.
> Sophisticated investors, especially those who dabble a bit in dodgy stocks and take risks, will be caught in the net. Particularly middle-aged and older investors.




Just bumping this thread again. They say that 20% of the adult population are vulnerable to a financial con. Surprisingly, it is those who are conned the first time who are more likely to suffer it happening again. 
Those who are approached are usually sophisticated investors who keep the fact to themselves. 

The sums of money vary but average losses are around $50,000.

Most people are contacted by telephone and they usually ask you to confirm your name and address. NEVER REPLY AND ALWAYS PUT THE PHONE DOWN.

Many are conned by letters from abroad.  Mostly asking for a small sum of money to confirm your identity before sending your prize - THERE ISN'T ONE.  After replying you become a fixed target - NEVER EVER REPLY. 

Losses from these cons are enormous, and are thought to exceed $1 billion each year.  The UK figure is estimated at $7 billion.

If you think this may have happened to you.  Then read the rest of this thread for further information.


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## gav (29 May 2009)

When I first began learning about the share market I subscribed to a few free online newsletters (gave nothing out except my hotmail email).  A few weeks later I received a call very late at night from someone in the UK telling me he works for an investment company that isn't listed on any share market and wanted me to invest $5-10K.  He said once you see our returns in a few months it will give you the confidence to invest more.  Obviously I declined.  

3 months later I received another call from the same person (sounded like he was in a night club with all the noise in the background) telling me that I would have gained 40% in the 3 months since he called if I invested the first time, and again asked me to invest in his "company".  I simply hung up.  Over the next few weeks I didn't answer private numbers that rang late at night, haven't heard from him since...


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## white_goodman (29 May 2009)

gav said:


> When I first began learning about the share market I subscribed to a few free online newsletters (gave nothing out except my hotmail email).  A few weeks later I received a call very late at night from someone in the UK telling me he works for an investment company that isn't listed on any share market and wanted me to invest $5-10K.  He said once you see our returns in a few months it will give you the confidence to invest more.  Obviously I declined.
> 
> 3 months later I received another call from the same person (sounded like he was in a night club with all the noise in the background) telling me that I would have gained 40% in the 3 months since he called if I invested the first time, and again asked me to invest in his "company".  I simply hung up.  Over the next few weeks I didn't answer private numbers that rang late at night, haven't heard from him since...




you fool you could have made 40%. I had a guy from one of the forex brokers call me up trying to get me to join... I told him im not willing atm, so we just have a chat for about 30mins cos he's bored at work, done that about 3 times now lol


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## noirua (31 May 2009)

*Re: Unauthorised Companies/Firms, Boiler Rooms etc.,*



noirua said:


> I can't imagine an Aussie falling for one of these tricks, but they do target the elderly who are sophisticated investors who may have lost the plot a bit and don't know it or Admit It.
> From the U.K. the Financial Services Authority (F.S.A.) have got some money back for those who were conned:  http://www.fsa.gov.uk/pages/Library/Communication/PR/2008/020.shtml
> 
> Seriously though, we all get conned during our lives or make decisions we would prefer not to admit. So always report these matters, firstly to the police and to FIDO (A.S.I.C.) at:  http://www.fido.gov.au/fido/fido.nsf
> ...




YES, "FIDO" can help!  Fido is part of ASIC and not your helpful St Bernard rescue dog of old.  On the other hand, they are the only people to contact directly - DO CONTACT THEM IF YOU ARE CONCERNED THAT YOU MAY HAVE BEEN CONNED.


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## slartman (20 February 2010)

hi all.  current boiler room frauds are: 

brett commodities, using transfer agents of 
westernfield holdings, 
parkfield international capital, 
hargill holdings and 
starwill holdings, all of japan or hong kong.
And some older ones coming back on the scene are 
brookstone group of cyprus.  all start with the 'cold call' phone call out of the blue. Gruber and Green are also current supposedly from new york, and using intereast financial brokers.


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## slartman (20 February 2010)

those 'boiler rooms' were charging on as of yesterday.  You can't convince them that anything is wrong.  they will run by the script and keep declaring their business acumen.  And - later down the track- the next con is the 'financial brokers ' law firm or similar, always overseas who have miraculously got a group of losing investors and have frozen funds in the bogus boiler room account.  they ask you to join the 'group' to get some $6m back via courts in some far far away place.  of course, you follow on and end up getting slugged 'legal fees' (thefts) again, until you once again realise you have been conned. 

Its very sad that decent aust. citizens who have worked all their life and whom the govt. want to be self funded retirees fall for this and then find it hard to get anyone to listen to them.  so many people just say 'its their fault'. 

keep away from them.
sm


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## noirua (20 February 2010)

slartman said:


> those 'boiler rooms' were charging on as of yesterday.  You can't convince them that anything is wrong.  they will run by the script and keep declaring their business acumen.  And - later down the track- the next con is the 'financial brokers ' law firm or similar, always overseas who have miraculously got a group of losing investors and have frozen funds in the bogus boiler room account.  they ask you to join the 'group' to get some $6m back via courts in some far far away place.  of course, you follow on and end up getting slugged 'legal fees' (thefts) again, until you once again realise you have been conned.
> 
> Its very sad that decent aust. citizens who have worked all their life and whom the govt. want to be self funded retirees fall for this and then find it hard to get anyone to listen to them.  so many people just say 'its their fault'.
> 
> ...




I believe the UK government has just woken up to doing something about their problem where about A$7 billion was lost in 2008. Quite right, Authorities do blame the person as stories that come out do make people look fools and many don't report their loss. 
It is in fact the Australian Government who are fools as this money usually leaves the country.

Yes, I've been conned, but more on believing fake remedies or buying these pills and medicines that are supposed to do us so much good. Buying goods from magazines that turn out to be fakes. 
Look carefully and you find the cons are all around us.


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## greenhorn (5 March 2010)

*Beware Brett Commodities*

Brett Commodities are not who they claim.  You will do your cash.  Smooth talkers but crooked as they get.  Web site was only registered in January.  Probably by now they are operating under another name but they are frauds and con-men. 
I know this from painful experience
OK I'm punishing myself enough 
but I thought I should warn others.


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## slartman (30 March 2010)

A couple more interesting ones, suspected 'boiler rooms', that don't have aust. financial services licences, and even though they are based in hong kong and china, aren't in their phone books and are not reg. companies there:
hydro solutions asia
palladium cathay
east peak ltd
Lucky pearl ltd
Global pacific advisors
Dominion Consolidated
Lazard Ganco (transfer agent)


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## Joe Blow (19 September 2016)

The story behind international binary options boiler room scam TitanTrade: http://www.smh.com.au/business/bank...c-chases-down-lost-money-20160908-grc09z.html


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