Boiler Rooms?

Mrs_pbradley936

On the BBC's Working Lunch today they were talking about this. I missed quite a bit of it but it seems you can lose a great deal of money via them. Anyone have any information?

purch

It's where people give their hard earned ££ away to conmen.

Basically they contact you, tell you about some fantastic investment opportunity that will quadruple your money in no time at all with absolutley no risk whatsover. Then the person sends them a cheque for their life savings, and of course..........you can guess the rest.

On a par with the idiots who send a cheque off with in admin fee in order to receive the prize in the competetion they didn't enter.

it seems you can lose a great deal of money via them

Only if you are stupid enough to give your money to someone you don't know, or have never heard of who contacts you and asks you to send them your money.

debbie42

It's basically a scam where people cold call and offer you fantastic shares at a bargain price, with brilliant potential. Once they have suckered you in, you can't sell the shares as there isn't a market of ready buyers.

They aften have names that are sort of recognisible as being like other reputable companies, and are based abroad.

Basically if you get cold called by anyone offering to sell you shares, don't!

James

The link below from the BBC supplies lots of info on Boiler Room Scams.

Click here.

And the BBC Video on Boiler Rooms can be found by clicking here.

[Deleted User]

Boiler Room (2000)

http://www.imdb.com/title/tt0181984/

Good film!

stevedb11

If you are worried about unsolicited telephone calls and boiler room calls, have a look at the TPS website,
http://www.tpsonline.org.uk/tps/
I've been registered for about 4 years, and in all that time I have only had a couple of unwanted calls. Steve;)

oldfella

If you are worried about unsolicited telephone calls and boiler room calls, have a look at the TPS website

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boiler rooms always call from outside the UK - TPS has no control over them

CHR15

Sounds like anyone daft enough to give money after a cold call deserves to be taught a lesson.

If they didn't give it to them, they would only go and buy an Air Guitar from ebay for a couple of hundred quid.