Is this a boiler room scam

VJK09 · 24 February 2010 at 1:25PM

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.

cottager · 26 February 2010 at 12:27AM

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

Associated news story from Channel 4:
http://www.channel4.com/news/articles/business_money/warning+over+boiler+room+scams/3560177

zvjk67 · 20 April 2010 at 3:34PM

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.

shuvoff · 26 June 2010 at 2:56PM

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.

Aegis · 26 June 2010 at 2:58PM

shuvoff wrote: »

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.

Daytalker · 14 August 2010 at 8:10PM

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? :mad:

Reaper · 14 August 2010 at 8:35PM

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.

Daytalker · 15 August 2010 at 4:13AM

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?

Reaper · 15 August 2010 at 11:40AM

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.

Is this a boiler room scam

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free