What is a Boiler Room Scheme?
Boiler room schemes are large-scale operations designed to lure in as many investors to an investment scam as possible, often using high-pressure sales tactics. Boiler room scheme operators may cold call investors or solicit investors through emails, text messages, social media, and other means. Beware of boiler room scheme tactics, including:
Aggressive Sales Tactics or Threats. Fraudsters may use aggressive sales tactics or even threats (for example, threatening to file a lien against your property) to swindle you.
Pressure to Buy Quickly. No reputable investment professional should push you to make an immediate decision about an investment.
Unsolicited Offers. Be wary of any investment offer you didn’t ask for, especially if you don’t know the sender.
Promises of High Returns with Little or No Risk. Every investment carries some degree of risk, and the potential for greater returns usually comes with greater risk. If it sounds too good to be true, it is.
Boiler room scheme tactics may be used to perpetrate microcap fraud, binary options fraud, advance fee fraud, precious metals fraud, commodities fraud and other investment scams. Resist the pressure to invest quickly and take the time you need to investigate thoroughly before sending money or signing any agreements.
Please be advised that this information is being provided for educational purposes only. It is not designed to be complete in all material respects. If you have any questions about this post or you believe that you have been swindled by boiler room activity, you should contact a qualified professional.
With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.
At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.