Boiler Room Share Scam Arrests

Boiler Room Share Scam Arrests.

Over 100 people have been arrested in joint operations across the UK, the USA and Europe targeting share selling scams.

Known as ‘boiler rooms’ in the UK and Financieros Chiringuitos (financial fly by night) in Spain, the scam is plain and simple.

• Telephone potential investors making wild investments claims
• Send out glossy brochures and statements
• Keep calling clients and pressurise into investing
• Send fake statements with wild returns after a short period
• Contact client and ask them to invest some more
• Disappear!

In what is thought the biggest fraud ‘sting’ by the police, 110 people were arrested and this may lead to thousands more being arrested.

Comment

Sadly, over the years we have been approached by a few clients who have been victims of boiler house scams, sadly it is always when it is too late and we investigate to  then advise their “shares” do not exist.

We have a saying “You can only con and greedy person”.  Do not get fooled by wild claims on investment returns.  We all know, if it “looks too good to be true, it probably is”.

If you think you have been the victim of a boiler room scam, contact the police or if you are unsure, contact us and we will do our very best to help.