boiler room

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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.

boiler room

a type of fraud on investors by dishonest brokers who fill a room with high pressure telephone salespeople to push dubious stocks and shares. It is governed by FINANCIAL SERVICES LAW in the UK.
References in periodicals archive ?
What we want people to take away from this movie is this: These boiler room operations simply steal people's money by lying.
And the number of victims scammed by Valley-area boiler rooms is in the tens of thousands, which state officials have calculated using files left behind in vacated office spaces.
Some boiler rooms are now selling shares in companies based in the UK, making these scams seem even more plausible.
Finally, as the heat from disgruntled investors grew, Rawlings and the others stopped taking messages, phones were disconnected and the boiler room moved elsewhere.
7 on the premises of the South, and Task 3) Repair of the room minus 1 (condensate tanks) boiler room facility on the premises 10A South, and Task 4) Repair of the condensate system in the dryer and boiler rooms obiekt.
It said yesterday it had obtained interim injunctions at the High Court against UK-based companies Ches-teroak and Bingen Investments, both of which are incorporated in Gibraltar, and against Samuel Nathan Kahn, because it believes they have been involved in assisting overseas boiler room activities in the UK.
We are aware of the boiler rooms and the telemarketers who are in the Valley, and we will go after them with the full force of the law.
The contract is for the execution of the reconstruction of the boiler room (boiler exchange) together with the separation of boiler rooms for assembly of gas radiators and internal gas installations for the production facility located at street strzelinski 35 in Swidnica, in accordance with their construction projects by the Employer and implementing projects for buildings forge ( Building No.
Boiler rooms disadvantage private investors and also on occasion the companies whose stock they trade.
Contract notice: Consistent service preventive, regulatory, conductive and corrective maintenance of low voltage installations, boiler rooms, hot water, cold water, heating, gas distribution to endpoints, gas-oil tanks and cooling shelters the xanascat.
The FSA surveyed callers to its consumer contact centre who had reported being targeted by boiler rooms - overseas operations that use high-pressure selling techniques to persuade UK investors to purchase shares.