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 ?
The March issue of Details, the trendy men's magazine, features an article titled "Inside the Boiler Room" that asks the question, "Is Hollywood's shocking new Wall Street expose on the mark?" The answer: "We got some inside information that says, 'Be afraid.'"
And boiler room operations are as shady as they come.
Margaret Cole from the FSA says: "So far this year we have contacted 95,000 people across the UK to warn them about the risks of investing via boiler room fraudsters.
A "boiler room" scam is a term given to an operation to snare thousands of investors into buying expensive shares that turn out to be worthless and impossible to sell.
City watchdog the Financial Services Authority has cracked down on a Gibralter-based "boiler room" share-selling operation.
Families across the North East have been hit with a Hollywood-style racket dubbed The Boiler Room Scam by police.
A HORRIFIED young nurse was confronted with 143 snakes yesterday when she opened a hospital boiler room cupboard.
The boiler room is fine-tuned to operate in the exact method it was designed to run.
Tenders are invited for Reconstruction of gas boiler room
A boiler room victim case study: The individual's name has been changed
Superintendents must also remember that the presence of debris in the boiler room can create a dangerous situation.