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.

Collins Dictionary of Law © W.J. Stewart, 2006

References in periodicals archive ?

Real-life boiler room swindles have multiplied rapidly in recent times.

FAMILY FINANCE: Don't let boiler burn you alive; As warnings go out about the latest tactics being used by so-called boiler rooms to con both UK investors and small businesses, Jane Hall looks at how to avoid being reeled in

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.'"

Boiler Room Boilerplate

And boiler room operations are as shady as they come.

If it's too good to be true, it really is

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.

Scalded by share scam; Cash point

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.

Welshman arrested in share scam

City watchdog the Financial Services Authority has cracked down on a Gibralter-based "boiler room" share-selling operation.

Heat turned up on 'boiler room' shares

Families across the North East have been hit with a Hollywood-style racket dubbed The Boiler Room Scam by police.

Movie-style scam rife in region

A HORRIFIED young nurse was confronted with 143 snakes yesterday when she opened a hospital boiler room cupboard.

Snake terror

The boiler room is fine-tuned to operate in the exact method it was designed to run.

Boiler room outsourcing a hot topic

A boiler room victim case study: The individual's name has been changed

Getting burned in boiler room

Superintendents must also remember that the presence of debris in the boiler room can create a dangerous situation.