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Web extra: 'boiler room' scams

One hundred dollar bill on a hook
"Boiler rooms" hook victims with pressure and a persuasive pitch

More than 1m has been recovered for 153 UK victims of fraudulent overseas share-selling operations, known as "boiler rooms".

Working with the Canadian authorities, the Financial Services Authority (FSA) has managed to retrieve most of the 1.25m that had been
used to buy shares in the
Rocky Mountain Gold Mining Corporation and the Rocky Mountain Gold Mining Inc.

Anyone who bought shares in either of the two gold-mining companies is advised to contact the FSA on 0845 606 1234 to ensure they get their money back.

Paul Lewis discusses the operation with Jonathan Phelan, head of the FSA's enforcement division.

Further information:

Money Box



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