• Australian (ASX) Stock Market Forum

Unauthorised Companies/Firms, Boiler Rooms etc.

Discussion in 'General Investment and Economics' started by noirua, Apr 14, 2007.

  1. noirua

    noirua Well-Known Member

    Posts:
    7,858
    Likes Received:
    0
    Joined:
    Feb 2, 2006
    An increasing number of companies are operating unauthorised and many as boiler rooms. Australia has its own lists. Firstly, many companies that targeted the UK and America are turning to Australia and other countries as targets.

    The following companies listed by the UK may not be banned from operating in Australia. You may wish to make a note of them, just in case they contact you.

    http://www.fsa.gov.uk/pages/Library/Communication/PR/2005/039.shtml

    http://www.fsa.gov.uk/pages/Doing/Regulated/Law/pdf/Knight_5sep06.pdf

    http://www.fsa.gov.uk/pages/Doing/Regulated/Law/Alerts/overseas.shtml
     
  2. noirua

    noirua Well-Known Member

    Posts:
    7,858
    Likes Received:
    0
    Joined:
    Feb 2, 2006
  3. noirua

    noirua Well-Known Member

    Posts:
    7,858
    Likes Received:
    0
    Joined:
    Feb 2, 2006
    Re: Unauthorised Companies/Firms, Boiler Rooms etc.,

    This write up may be useful to anyone who has been a victim of fraud. The rest is just contacts which are no use in Australia. Worth reading: http://www.unjustis.co.uk/Support/Support.htm
     
  4. noirua

    noirua Well-Known Member

    Posts:
    7,858
    Likes Received:
    0
    Joined:
    Feb 2, 2006
    Re: Unauthorised Companies/Firms, Boiler Rooms etc.,

    The following link will take you to a website that shows information about certain individuals. They are known to have connections in Asia and New Zealand: http://www.unjustis.co.uk/Cases/Bantock/Rogue_Traders/Rogues.htm

    You may think that Australia has its share of criminals in all sections of society. Read these links and you realise it's a quiet place to live compared with the UK: http://www.unjustis.co.uk/index.htm http://www.unjustis.co.uk/News/News_Roundup.htm
     
  5. noirua

    noirua Well-Known Member

    Posts:
    7,858
    Likes Received:
    0
    Joined:
    Feb 2, 2006
  6. noirua

    noirua Well-Known Member

    Posts:
    7,858
    Likes Received:
    0
    Joined:
    Feb 2, 2006
  7. noirua

    noirua Well-Known Member

    Posts:
    7,858
    Likes Received:
    0
    Joined:
    Feb 2, 2006
    Re: Unauthorised Companies/Firms, Boiler Rooms etc.,

    A Boiler Room Interview for Staff. Set up to ROB you of your honestly made fortune. Evil are these people, so, "BE ON YOUR GUARD":

    http://www.youtube.com/watch?v=zvICN8DNMpY


    Boiler Room - "THE FIRST SALE":

    http://www.youtube.com/watch?v=TbIRedOqDwE&NR=1


    No chance of the Wife getting in the way of Conning this guy out of his fortune. These fellers are Evil B*******:

    http://www.youtube.com/watch?v=1C6ZeKpx7xY&mode=related&search=


    Boiler Room, "Chasing them up" - don't get busted: http://www.youtube.com/watch?v=ou44IfLCccs&mode=related&search=
     
  8. noirua

    noirua Well-Known Member

    Posts:
    7,858
    Likes Received:
    0
    Joined:
    Feb 2, 2006
  9. RichKid

    RichKid PlanYourTrade > TradeYourPlan

    Posts:
    2,981
    Likes Received:
    1
    Joined:
    Jun 18, 2004
    Re: Unauthorised Companies/Firms, Boiler Rooms etc.,

    Thanks for the public service and for the timely warning Noirua, it really is worth paying close attention to these things, loved the glengarry ross clip, will warm the cockles of Joe's heart!
     
  10. noirua

    noirua Well-Known Member

    Posts:
    7,858
    Likes Received:
    0
    Joined:
    Feb 2, 2006
  11. noirua

    noirua Well-Known Member

    Posts:
    7,858
    Likes Received:
    0
    Joined:
    Feb 2, 2006
    Re: Unauthorised Companies/Firms, Boiler Rooms etc.,

    Only indirectly on topic. Sales not numbers, cold calling and success. Again, indirectly, we can perhaps all learn from the logic in this video.

    http://www.youtube.com/watch?v=5WmrSJ97FH0&NR=1
     
  12. noirua

    noirua Well-Known Member

    Posts:
    7,858
    Likes Received:
    0
    Joined:
    Feb 2, 2006
    Re: Unauthorised Companies/Firms, Boiler Rooms etc.,

    I can't imagine an Aussie falling for one of these tricks, but they do target the elderly who are sophisticated investors who may have lost the plot a bit and don't know it or Admit It.
    From the U.K. the Financial Services Authority (F.S.A.) have got some money back for those who were conned: http://www.fsa.gov.uk/pages/Library/Communication/PR/2008/020.shtml

    Seriously though, we all get conned during our lives or make decisions we would prefer not to admit. So always report these matters, firstly to the police and to FIDO (A.S.I.C.) at: http://www.fido.gov.au/fido/fido.nsf

    Registered banned or disqualified people by A.S.I.C.- http://www.search.asic.gov.au/ban.html
     
  13. Timmy

    Timmy white swans need love too

    Posts:
    2,929
    Likes Received:
    0
    Joined:
    Sep 30, 2007
    Re: Unauthorised Companies/Firms, Boiler Rooms etc.,

    How are threads made to be 'stickys' - to stay permanently visible on the forums? This thread must be a strong candidate. It really is very valuable information, I would say a community service, especially for those as Noirua points out "who may have lost the plot a bit and don't know it or Admit It".
     
  14. prawn_86

    prawn_86 Mod: Call me Dendrobranchiata

    Posts:
    5,850
    Likes Received:
    1
    Joined:
    May 23, 2007
    Re: Unauthorised Companies/Firms, Boiler Rooms etc.,

    Timmy,

    threads are made sticky by us mods, with Joes permission.

    While it is a very useful and informative thread, so are many others.

    Perhaps the best thing to do is just to bump this from time to time, to make sure people view it.

    thanks

    Prawn
     
  15. Timmy

    Timmy white swans need love too

    Posts:
    2,929
    Likes Received:
    0
    Joined:
    Sep 30, 2007
    Re: Unauthorised Companies/Firms, Boiler Rooms etc.,

    Thanks Prawn ...... errr....... Ray...:)
     
  16. xyzedarteerf

    xyzedarteerf Well-Known Member

    Posts:
    499
    Likes Received:
    0
    Joined:
    Nov 9, 2007
    Re: Unauthorised Companies/Firms, Boiler Rooms etc.,

    For those who have not seen the Boiler Room movie here are some classic scenes.

    Group Interview



    Boiler Room First sale.

     
  17. noirua

    noirua Well-Known Member

    Posts:
    7,858
    Likes Received:
    0
    Joined:
    Feb 2, 2006
    Re: Unauthorised Companies/Firms, Boiler Rooms etc.,

    Hi everyone, just bumping this thread on a Monthly basis. Hopefully none of us will be caught out, you have been, well, click on these links.

    A story about a boiler room busted in 2006. "Corporate enforcer busts $3.9m boiler room scam": http://www.theage.com.au/news/busin...oiler-room-scam/2006/11/23/1163871549635.html
     
  18. xyzedarteerf

    xyzedarteerf Well-Known Member

    Posts:
    499
    Likes Received:
    0
    Joined:
    Nov 9, 2007
    Re: Unauthorised Companies/Firms, Boiler Rooms etc.,

    with the amount of so called legit investment companies going down the drain its hard to see were the line is drawn.

    by the way just had a letter from one of my old super fund advising there currently under administration, just wondering if super funds are the next to go down the gurgler with this credit crunch.:sly::sly:
     
  19. numbercruncher

    numbercruncher Beware of Dropbears

    Posts:
    3,136
    Likes Received:
    0
    Joined:
    Oct 12, 2006
    Re: Unauthorised Companies/Firms, Boiler Rooms etc.,


    Wow what was the name of the fund you were in ?
     
  20. noirua

    noirua Well-Known Member

    Posts:
    7,858
    Likes Received:
    0
    Joined:
    Feb 2, 2006
    Re: Unauthorised Companies/Firms, Boiler Rooms etc.,

    Just bumping this thread again in hopes none of us get caught out.
    "Nearly $1 billion lost in 12 months..."
     
Loading...

Share This Page