The SEC also details the level of deceit and harassment from these boiler room
A few years ago no one had heard of carbon credits, but they've become a favourite vehicle of boiler room
The regulator is writing to everyone whose details appear on the list, explaining the steps they can take to protect themselves from boiler room
fraud, and telling them what they should do if they think they may already be a victim.
One such name change was needed after an article ran in the British media about Blossom Hill Investments, a fake firm the boiler room
sold shares in.
Tomorrow DI Geoff Smith will take a behind-the-scenes look at how a boiler room
fraud works at an event hosted by the North East Fraud Forum.
To help protect investors, the Financial Services Authority (FSA) and the Institute of Chartered Secretaries and Administrators (ICSA) have produced an updated version of a free leaflet with warnings about boiler rooms
for listed companies to send to their shareholders.
Jonathan Phelan, head of the FSA's enforcement division, said: "This is a rare bit of good news for investors who have been persuaded to hand over money to boiler rooms
as usually the money disappears without a trace.
Gary Lacey, who will run the Boiler Room
with his wife, fellow SA officer Dawn, said: "The final decision has not been made.
Visits to boiler rooms
only need to happen once a month.
Now their battle against illegal boiler rooms
is gaining steam.
Most boiler rooms
operate in six stages - solicitation, sales, verification, collection, shipping, and customer service.
Though Washington has helped some states in their efforts to put boiler rooms
out of business, few investigators think they have made more than a dent in the problem.