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boiler room
(redirected from Boiler rooms)

    Also found in: Dictionary/thesaurus, Financial, Encyclopedia, Wikipedia 0.01 sec.

boiler room n. a telephone bank operation in which fast-talking telemarketers or campaigners attempt to sell stock, services, goods, or candidates and act as if they are calling from an established company or brokerage. Often they are totally fraudulent and in violation of security laws.
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Every year British investors are being conned out of £500m by so-called boiler rooms - illegal overseas share pushers selling virtually worthless stocks using high-pressure tactics.
Turning up the heat on boiler room fraud by guardian.co.uk / guardian.co.uk
INVESTORS in North Wales should protect themselves from so-called boiler rooms scams, says a local stockbroker.
Don't get burnt in boiler room by Daily Post (Liverpool, England)
The boiler rooms often vanish leaving investors out of pocket, and because they are based outside of the UK, the FSA is usually unable to shut them down, while investors do not qualify for compensation.
Share scam is busted by Huddersfield Daily Examiner (Huddersfield, England)
 
 
 
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