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 ?
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 regulator is writing to everyone whose details appear on the list, explaining the steps they can take to protect themselves from boiler room fraud, and telling them what they should do if they think they may already be a victim.
The Danish national was the first person to be extradited to the UK for their involvement in the Spanish 'boiler room', so-called because of the pressure put on potential investors by fake stockbrokers.
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.
Boiler rooms are not authorised by the FSA and act illegally by promoting and selling shares in the UK that are overpriced, restricted for onward sale and have little or no realisable value.
Investors with legitimately purchased shares are at greater risk of being targeted by perpetrators of illegal boiler rooms.
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.
Most boiler rooms operate in six stages - solicitation, sales, verification, collection, shipping, and customer service.
Though Washington has helped some states in their efforts to put boiler rooms out of business, few investigators think they have made more than a dent in the problem.
Many of the so-called boiler rooms are based overseas, making it difficult for police and the financial authorities to shut them down.