Beware of Boiler Room Share Scam
The BBC has revealed a frightening share scam from ‘Boiler Rooms’ based in Spain and other countries.
Boiler rooms are where slick telesales people make their calls from in an attempt to sell shares in non existent companies, effectively taking money from unsuspecting individuals and providing a share certificate that is absolutely worthless.
The BBC state:
‘Boiler rooms are staffed by teams of salesmen who cold call unsuspecting investors to offload worthless investments. They use a mixture of telephone bullying and sophisticated sales tactics gleaned from legitimate business.
Working Lunch viewers Ken and Barbara Fudge from Dorset are among the thousands who have already been targeted this year. They paid £40,000 to a share salesman who phoned out of the blue from Luxembourg.’
Our advice is to never buy shares over the telephone!
Read the full article by following this link:
http://news.bbc.co.u.....mmes/working_lunch/7375384.stm