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 ?
Check out SEC Halts Lottery Ticket Boiler Room Scheme: Enforcement on ThinkAdvisor.
He said the police are overwhelmed by the number of boiler rooms operating out of the City of London, and while the total loss to fraudsters is huge, individual scams are often too small for the Serious Fraud Office.
Through a commitment to research and development and a sound acquisition strategy, today the company is the sole provider of integrated boiler/burner/controls solutions and is a manufacturer of boiler room equipment across commercial, institutional, and industrial markets.
Detective Sergeant Ted Butcher, inset, of Cleveland Police's fraud investigation unit, said boiler room fraud is "quite common".
BRIGHT IDEAS: Pupils from John Gulson Prmary School took part in a competition to design a mural for the boiler room wall.
DSI, which was formed by Cates in 1985, offers a complementary line of gaskets, packing and boiler room products.
The rest of the escaped oil was pumped out of the boiler room within hours, but families had already been alerted by mobile phone text message that the school would not be opening.
A that Irfan Yildiz was killed and 25 people were injured in the explosion which happened in boiler room of the building during a maintenance.
3, was arrested outside The Boiler Room - Industrial Lounge at 2:14 a.
There was a time when people thought that by hanging a new blue or yellow box on the wall in the boiler room, they were doing all they could to save energy in their buildings.
Police said Botcher set up the boiler room office in Spain, with help from Jenkins, described as his right hand man, while Yazdanian was involved in the sale of the shares.
Detective Inspector Geoff Smith of Durham's Economic Crime Unit warned affluent people of the North East to be prepared for a rising tide in boiler room fraud as the stock market begins to pick up following the current downturn.