boiler room

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boiler room

A room in which one or more steam or hot-water boilers and associated equipment are located.
References in periodicals archive ?
With this information about the victims' trades, the orchestrators and the boiler room sales personnel allegedly placed opposing sell orders to dump their own shares, realizing more than $14 million in illegal proceeds while the victims lost millions of dollars, including retirement savings.
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.
The move comes after the Financial Services Authority recovered their biggest ever master list of names being used in so-called boiler room scams.
They have been able to get away with their criminal activity by basing themselves overseas, but hopefully this case will have repercussions for other boiler rooms still operating in Spain.
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.
So-called boiler rooms are high pressure sales firms, often based overseas, that target investors illegally, offering them non-tradable, overpriced or even non-existent shares.
The FSA said investors were "extremely fortunate" to get their money back, as boiler rooms are usually structured to prevent such enforcement action.
The historic building, immortalised by John Lennon's 1960s lyric, has been transformed into a prayer and meeting centre called the Boiler Room.
In an apartment complex where all of the boiler rooms have separate primary/secondary systems, each with their own pump, reducing the number of needed pumps is a step in the right direction.
Police Training Centre, Leamington Road, Ryton - extension of one boiler room, construction of two boiler rooms on the end of existing buildings, and construction of one detached boiler room
Boiler rooms at high-rise residential properties are vulnerable to equipment failure, water damage, and theft of valuable equipment.