Main site > MoneySavingExpert.com Forums > Essential Money > Savings & Investments > Is this a boiler room scam (Page 3)

IMPORTANT! This is MoneySavingExpert's open forum - anyone can post

Please exercise caution & report any spam, illegal, offensive, racist, libellous post to forumteam@moneysavingexpert.com

  • Be nice to all MoneySavers
  • All the best tips go in the MoneySavingExpert weekly email

    Plus all the new guides, deals & loopholes

  • No spam/referral links
or Login with Facebook
Is this a boiler room scam
Closed Thread
Views: 16,495
Thread Tools Search this Thread Display Modes
# 41
clockworks
Old 24-01-2010, 5:29 PM
MoneySaving Stalwart
 
Join Date: Feb 2009
Posts: 408
Default

With how cheap some of the FTSE 100 and FTSE 250 are in comparison to what they were trading at a few years back stick to them instead of these small penny stocks.

Much safer with the big boys in my opinion.
clockworks is offline
Report Post
# 42
pjrossiter
Old 24-01-2010, 8:52 PM
MoneySaving Newbie
 
Join Date: May 2008
Location: Aberdeen
Posts: 3
Default

Just to prove that these conmen won`t go away. In 2007 I was conned into buying shares in Evolution Global Capital Partners (EGCA).Soon after they were suspended by the SEC in the US.Realised my dosh was done and vowed never to be caught out again. Now just last week have been contacted by "The Madden Group Inc.,Buffalo N.Y. willing to buy my shares for $14 per share......
no way! Very dodgy looking web-site.I emailed the SEC in the US and they say
EGCA never fulfilled any requirements for reinstatment....Be warned.

Last edited by pjrossiter; 25-01-2010 at 5:49 PM. Reason: spelling correction.
pjrossiter is offline
Report Post
The Following User Says Thank You to pjrossiter For This Useful Post: Show me >>
# 43
acar
Old 24-01-2010, 10:08 PM
MoneySaving Newbie
 
Join Date: Jan 2010
Posts: 2
Default

Hi Reaper.

Thanks for your comments, I have read all the thread but have not seen any mention of Wilkins Fairbrother International.
acar is offline
Report Post
# 44
agsnu
Old 24-01-2010, 10:25 PM
Serious MoneySaving Fan
 
Join Date: Mar 2008
Posts: 1,436
Default

Quote:
Originally Posted by acar View Post
Thanks for your comments, I have read all the thread but have not seen any mention of Wilkins Fairbrother International.
From the second post:

Quote:
It is safe to assume that anyone cold calling offering a great deal in obscure US shares is a scammer. The chances of them being actually based in London is minimal - if they were, they would be breaking either the FSA registered share dealer regulations by cold calling, or the law by not being FSA registered.
Note: ANYONE. Not just Gresham Associates. The same is true of all of these people.

Post #16 points you to http://www.fsa.gov.uk/pages/Doing/Re...overseas.shtml - where Wilkins Fairbrother is listed.
agsnu is offline
Report Post
The Following User Says Thank You to agsnu For This Useful Post: Show me >>
# 45
Reaper
Old 25-01-2010, 12:27 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Aug 2004
Posts: 5,674
Default

Thanks agsnu. You could also add post 5 where I explain scams often share the same addresses.

In that post I mention a known scam address is 18 Ave Louis Casai, Geneva
On their web site Wilkins Fairbrother International list their Swiss address as: 17 Ave Louis Casai, Geneva
I think you can safely assume it is all one building.
Their London address is also an one regularly used by scammers.

acar - the names are changed regularly. When I said read the rest of the thread I meant learn to spot the signs of a scam. This one is a carbon copy of the others. It is irrelevant which name they are using this week.
Reaper is offline
Report Post
The Following 2 Users Say Thank You to Reaper For This Useful Post: Show me >>
# 46
jason1970
Old 27-01-2010, 7:07 PM
MoneySaving Newbie
 
Join Date: Jan 2010
Posts: 2
Default madden group inc

Quote:
Originally Posted by pjrossiter View Post
Just to prove that these conmen won`t go away. In 2007 I was conned into buying shares in Evolution Global Capital Partners (EGCA).Soon after they were suspended by the SEC in the US.Realised my dosh was done and vowed never to be caught out again. Now just last week have been contacted by "The Madden Group Inc.,Buffalo N.Y. willing to buy my shares for $14 per share......
no way! Very dodgy looking web-site.I emailed the SEC in the US and they say
EGCA never fulfilled any requirements for reinstatment....Be warned.
Hello i had them ring me up offering to buy my shares at 15 dollars is this company for real can anyone help
regards Jason
jason1970 is offline
Report Post
# 47
Reaper
Old 27-01-2010, 7:21 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Aug 2004
Posts: 5,674
Default

Er... change your number?

Unless you are seriously asking whether to go ahead... no... surely not.
Reaper is offline
Report Post
# 48
jason1970
Old 27-01-2010, 8:53 PM
MoneySaving Newbie
 
Join Date: Jan 2010
Posts: 2
Default Madden group

Quote:
Originally Posted by Reaper View Post
Er... change your number?

Unless you are seriously asking whether to go ahead... no... surely not.
Had a friend who has check this company out he says they are a good company in the usa the thing is the shares are worth nothing what do i have to lose
jason1970 is offline
Report Post
# 49
Aegis
Old 27-01-2010, 9:03 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Jun 2007
Location: London
Posts: 4,572
Default

Quote:
Originally Posted by jason1970 View Post
Had a friend who has check this company out he says they are a good company in the usa the thing is the shares are worth nothing what do i have to lose
You have the advance fee to lose, which they undoubtedly will charge you.
I am an Independent Financial Adviser
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
Aegis is offline
Report Post
# 50
nightwatchman
Old 28-01-2010, 6:38 AM
MoneySaving Stalwart
 
Join Date: Nov 2007
Posts: 215
Default

Rent from BT a premium rate line & pass this number to them for any future contact.
At list this way you will be able to scam them for 1.50 per min.
Si Deus pro nobis quis contra nos?

Last edited by nightwatchman; 28-01-2010 at 6:40 AM.
nightwatchman is offline
Report Post
# 51
Mikestratford
Old 21-02-2010, 4:08 PM
MoneySaving Newbie
 
Join Date: Feb 2010
Posts: 1
Default Timberlake Energy/ Gresham

Quote:
Originally Posted by shuvoff View Post
Gresham seem to have got the hint and haven't hassled anymore.

Getting rid of Wyncrest shares via Apex Consulting Online, which seem to be above board at least. They are trading them for PetroChina shares for a sum.
Gresham may now be 'sailing' under a different name. I receive a cold call from Charles Stanley Associates regarding the opportunity to get in on the 'ground floor' with Timberlake Energy at the 'amazing' price of 9.25 Euros !!!!! Considering that they are 'trading' in the US at $0.00 that IS amazing.
No doubt you are aware that there is a respected and long standing broker of almost the same name, though minus the suffix 'Associates' with a 'phone no. 0045 69960355 [Denmark] though I have no intention of calling them to seal the once in a lifetime deal!!
My apologies for rabbiting on somewhat but as they say 'every little counts'.
Mikestratford is offline
Report Post
# 52
VJK09
Old 24-02-2010, 12:25 PM
MoneySaving Newbie
 
Join Date: Feb 2010
Posts: 1
Default

Timberlake, pushed by Madden Group Inc and their associated Escrow site SelectATC.com both look to be bogus. They have been pushing several dead stocks and claiming great returns but are quite clearly an ESCROW scam. Do not get involved with this unless at own risk.
VJK09 is offline
Report Post
# 53
cottager
Old 25-02-2010, 11:27 PM
Serious MoneySaving Fan
 
Join Date: Feb 2008
Posts: 910
Default

New warning from the FSA yesterday about share scams:
http://www.fsa.gov.uk/pages/Library/...2010/034.shtml

Associated news story from Channel 4:
http://www.channel4.com/news/article...+scams/3560177
~cottager
cottager is offline
Report Post
# 54
zvjk67
Old 20-04-2010, 3:34 PM
MoneySaving Newbie
 
Join Date: Apr 2010
Posts: 1
Default Madden Group Inc is a FRAUD

I have had direct family involvement with Madden and Select ATC in recent weeks resulting in loss to family members. They have ripped off legitimate web sites and rebranded under those site copies as Madden and Select ATC. Emails are often sent using public services for anonymity, emails often are traced to Thailand/Singapore. Domains for their Internet presence were created on the same day in November 2009 despite claiming to be different companies and claiming to to be well established firms. AVOID these companies at all cost and be circumspect about other similar approaches. This case was made worse by using the trust relationship of an existing family advisor, who received a small seed payment, unknowingly, to attempt to add legitimacy to their activity.
zvjk67 is offline
Report Post
# 55
shuvoff
Old 26-06-2010, 2:56 PM
MoneySaving Newbie
 
Join Date: Nov 2009
Posts: 7
Default

Wyncrest/New England Worldwide Services

Here we go again, an Ian Tulloch from New England Worldwide Services (in Japan) calls my Dad offering $780,000 for the Wyncrest shares if he pays a 'release fee' of 8k upfront. He even sends an email to me (my Dad still doesn't go online -good thing), with the drawn up agreement that doesn't even state this upfront 'fee'. Details of the company are:
Phone: +81 6 4560-4008
Fax: +81 6 6537-1224

Website: newenglandwwservices.com

Mr Tulloch got very touchy when my Dad said he'd be checking this out with his solicitor before proceeding any further.

So I got my Dad to contact Wyncrest directly who confirmed they are NOT familiar with any company or individual other than their Transfer Agent being able to remove the restriction on the shares.

Posting this so others can be warned.
shuvoff is offline
Report Post
# 56
Aegis
Old 26-06-2010, 2:58 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Jun 2007
Location: London
Posts: 4,572
Default

Quote:
Originally Posted by shuvoff View Post
Wyncrest/New England Worldwide Services

Here we go again, an Ian Tulloch from New England Worldwide Services (in Japan) calls my Dad offering $780,000 for the Wyncrest shares if he pays a 'release fee' of 8k upfront. He even sends an email to me (my Dad still doesn't go online -good thing), with the drawn up agreement that doesn't even state this upfront 'fee'. Details of the company are:
Phone: +81 6 4560-4008
Fax: +81 6 6537-1224

Website: newenglandwwservices.com

Mr Tulloch got very touchy when my Dad said he'd be checking this out with his solicitor before proceeding any further.

So I got my Dad to contact Wyncrest directly who confirmed they are NOT familiar with any company or individual other than their Transfer Agent being able to remove the restriction on the shares.

Posting this so others can be warned.
Sounds like a standard advance fee scam. Ignore it.
I am an Independent Financial Adviser
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
Aegis is offline
Report Post
# 57
Daytalker
Old 14-08-2010, 8:10 PM
MoneySaving Newbie
 
Join Date: Jul 2010
Posts: 2
Default Aggghhhhh

I was a twit and bought shares in Timberlake Energy Solutions Inc. What I don't understand is that when I go to Bloomberg and put in the Ticker Code T2YA that they gave me it shows the shares as trading on The Frankfurt exchange.

Is what your saying that the company doesn't exist and that the shares certificate I have really is for the bucket?
Daytalker is offline
Report Post
# 58
Reaper
Old 14-08-2010, 8:35 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Aug 2004
Posts: 5,674
Default

No, you should have genuine shares. The problem is you probably paid more for them than they were worth and you may find selling them difficult.
Reaper is offline
Report Post
# 59
Daytalker
Old 15-08-2010, 4:13 AM
MoneySaving Newbie
 
Join Date: Jul 2010
Posts: 2
Default

Yeah says they are Restricted by Rule 144. Am I right that the US has lowered the time that these can be sold to 6 months?

Have spoken to a legitimate broker and they say that they have to be sold in the US as though showing as trading on the Frankfurt exchange they have to be sold through the US, why is this?

Why is it that Bloomberg does not show the ticker TLKE yet shows T2YA for them?
Daytalker is offline
Report Post
# 60
Reaper
Old 15-08-2010, 11:40 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Aug 2004
Posts: 5,674
Default

Shares sold by scammers always turn out to be "Regulation S" or "Rule 144". As I understand it this means they are not regulated and shares are sold privately rather than on the general stock market. This makes them almost impossible to sell unless you can find somebody yourself who is willing to buy them.

These are US regulations intended for foreign companies/investors and are widely abused.

Last edited by Reaper; 15-08-2010 at 11:42 AM.
Reaper is offline
Report Post
The Following User Says Thank You to Reaper For This Useful Post: Show me >>
Closed Thread

Bookmarks
 
 




Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

 Forum Jump  

Contact Us - MoneySavingExpert.com - Archive - Privacy Statement - Top

Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

All times are GMT +1. The time now is 3:00 AM.

 Forum Jump  

Free MoneySaving Email

Top deals: Week of 27 August 2014

Get all this & more in MoneySavingExpert's weekly email full of guides, vouchers and Deals

GET THIS FREE WEEKLY EMAIL Full of deals, guides & it's spam free

Latest News & Blogs

Martin's Twitter Feed

profile

Cheap Travel Money

Find the best online rate for holiday cash with MSE's TravelMoneyMax.

Find the best online rate for your holiday cash with MoneySavingExpert's TravelMoneyMax.

TuneChecker Top Albums

  • ED SHEERANX (DELUXE EDITION)
  • VARIOUS ARTISTSNOW THAT'S WHAT I CALL MUSIC! 88
  • SAM SMITHIN THE LONELY HOUR (DELUXE EDITION)

MSE's Twitter Feed

profile
Always remember anyone can post on the MSE forums, so it can be very different from our opinion.
We use Skimlinks and other affiliated links in some of our boards, for some of our users.