Job security - the stuff of myth and legend

I mentioned previously that Matt C is getting paranoid...well, it looks like his paranoia has infected the whole gang...apparently they believe that the way to make this blog stop is to sack their employees 'en masse'. Perhaps I haven't been clear enough: the only way I'm going to stop blogging is if they stop being criminals. I've got plenty more material, so they needn't think they can just keep holding on until I go away - I won't.

After all, getting their websites exposed, a forced reduction in their staff numbers and the expense of paying their recruitment 'consultants' must be reducing their profits somewhat. But do you know what it's costing me? Nothing :-). Poor chaps! If they weren't such scumbags you'd really have to feel sorry for them. No, really!!

One thing this really hammers home is the miserable life of a boiler room employee. Don't get me wrong, I'm not going soft, but for a start: if you're working in one of their rooms then your managers aren't likely to be nice, supportive types - after all, anyone who willingly scams vulnerable people instead of getting a REAL JOB is likely to be an unscrupulous, untrustworthy bastard. Added to that, you have basically no rights - you're working for a bunch of fraudsters so it's not as if you can sue for unfair dismissal, and the heartless gold-diggers who run the gang aren't going to have any qualms about firing people either (see para 1, that happened!!).

Basically, if they think you're a problem, or even if they don't like your face, they can sack you on the spot (happens more than you might imagine too). No need for any of that pesky paperwork, you're out the door without so much as a goodbye, never mind working out your notice or getting a redundancy payment. In the long run though, if they fire you, they're doing you a favour - I can assure you that I'm much happier working on the right side of the law, and getting to expose my unethical ex-employers is an added bonus.

In fact, if you've been fired from a boiler room (particularly this one) and feel like getting even with these guys, feel free to get in touch - I'll publish all your insider information about what really goes on in a boiler room - anonymity guaranteed!

If any boiler room bosses think I'm being unfair, you're welcome to get in touch too...I've often wondered how you sleep at night, and I'd love to hear how you justify your 'job' to your families! Or do you just lie to them too?

more next time

Who you gonna call?, fraudbusters! - well, the FSA actually

ok, just a quick note today for anyone who's in a position to 'spill the beans' on this, or any other, criminal gang that is targeting the UK (sorry everyone else, this is just for UK citizens).

This isn't particularly recent news, but I see that the FSA has a 'whistleblower' facility for those who want to get these criminals where it hurts! You can contact the whistleblower 'hotline' (if you will) at:

Email: whistle@fsa.gov.uk

Phone: 02070669200

or by snail mail to:

Intelligence Department (ref PIDA)
Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS

you can also take a look at the whistleblower web pages at:

www.fsa.gov.uk/pages/doing/contact/whistle/index.shtml


There's also a recent press release (30 April) from the FSA about the arrest and imprisonment of someone who had been money laundering for a boiler room (the boiler room chaps were jailed last August). The article is here:

www.fsa.gov.uk/library/communication/pr/2012/045.shtml


So, some good news then, but we need more people to take action and expose these fraudsters.

Well, that's me for the week (on the blog anyway), looking forward to the long weekend - Bank holiday on Monday. Back with more next week

Private Trading Acquisitions - another fake, 'fake', site

I don't know if it's me not paying attention or 'The Phantom' being busy on other things, but I have only just notices that they have done it again. The following points to the altered website - private-trading.org.

As I've mentioned in previous posts recently, the web designers are letting their standards slip a bit - sites are becoming quite simple - but The Phantom appears to be keeping his/her standards up and pushing the message that this 'company' or other is bogus!

I'm still amazed at what good copies these websites are and again have to wonder how they are making them so good. Of course, I still don't actually know how hard it is to do this, I just know I couldn't do it! - this blog is about as techie as I get!!

I don't know about you, but I'll be keeping a look-out for more of these :-)

Encouraging news from the FSA

I have just found a press release from the FSA, here, dated 17 April, that shows a reduction in the number of people being conned by boiler rooms and an increase in the number of people reporting these fraudsters. Obviously the FSA can only comment on the number of reports they receive, but it certainly looks like the message is getting out there. They also say that the best weapon against these fraudsters is to make people aware of the scam - and I'd like to think that this blog is playing its part!! The FSA have also produced a very useful looking video, which is linked from the article.

The article also mentions the problem of cloned firms - the fraudsters are using genuine company names when calling 'investors'. The main MO seems to be to copy the website of a genuine firm, and then just change telephone numbers and the email address (ironic really, as someone is now doing this to these crooks in Indonesia!!, bravo Phantom!). The FSA give some good advice about cloned firms here - cloned firm info - which is also included in the article.

The article really emphasises how persistent these crooks are - some people were receiving calls from the boiler rooms for 6 months! Don't give in to them - no legitimate firm would ever keep pestering you like this. If you're tempted to invest, but you're not sure about the company, my first advice would be DON'T DO IT! Seriously. According to the FSA the average loss is £20,000 - this is a lot of money so you need to be sure who you're dealing with. But if you're really convinced that it's the deal of a lifetime, get in touch with the FSA first and make sure the company is registered with them (as legitimate!!) - useful link on the right >>>

So, whatever the circumstances, the standard advice stands - if you are cold called by anyone offering you a great deal (and not just the 'companies' mentioned here), hang up. Although, as I mentioned previously, if you have the time/inclination to string them along a bit you'll be doing other people a favour - if you want some tips on this just google "scam baiting", there's plenty of help out there.

I'll just end with a quote from the press release: "if in doubt don't be polite, just hang up!"

sounds like good advice ;-), more next time

Robinson Franklin - all their eggs in one basket?

Probably not all.

Anyway, I just thought I'd do a follow-up to my post of 7 February "Cornerstone Worldwide - Gone". Well, it still has, apart from cornerstoneinternationalgroup.com - as someone stated in a comment to this blog - so continue to avoid this company.

Apart from Cornerstone, I mentioned several other websites in that posting including Omega Trading. I've been looking again at this and see that although there isn't a website up, they have a holding page for one and have re-registered their domain (on 9 February) - with a company called Ecatel out of the Netherlands.

I have done a bit of digging on the IP address where this domain is being hosted and see that the following known 'companies' are all being hosted in the same place:

premierpartnerholdings.com
robinsonfranklinholdings.com
robinsonfranklingroup.com
robinsonfranklininvestorawareness.com

There are 8 other domains also being hosted on this IP, including fortiscorp.com, which is in the 'Other boiler rooms' link on the right.

Of the others listed against this IP, only 2 aren't financial services related. The other 5 are, and all bear a striking resemblance to this crime group's MO - the general look of the sites and that 3 are in Japan and one has no address. They are:

harbortrading.com - subject of complaints on complaintsboard.com
suissecapital.com - no website
oceanfinancialmgmt.com
ba-ltd.com

There was one other financial services company, but this was based in London, so doesn't fit the MO.

Anyway, some food for thought and more names to look out for.

more next time

Pressure mounting against Indonesian boiler room

So, I thought I'd do this posting as I've been receiving emails in the last few weeks from people wanting to gather together in Jakarta and begin taking legal action against this group. It would be great if a group could get together and sue these scammers - there's strength in numbers, and a group has a better chance of gathering some strong evidence.

I know there are already people putting together a case against these guys, and I know there's been a lot of talk on several forums about getting together in Jakarta, but I'd urge anyone who does go to Indonesia to make sure that whatever you do is legal and safe! I know that these guys are scumbags, and when you've lost a lot of money, it's tempting to take the law into your own hands, but the best response is always going to be to take legal action.

Even if you don't get your money back, at least you could see Matt C and his cronies imprisoned ! I'm not sure though that it would be necessary to go to Jakarta - after all, the process is unlikely to be fast and would mean that those victims who do go would be even further out of pocket - having to part with even more money for accommodation etc. However, if you are determined to go then the following link on the website for the Australian embassy in Indonesia looks useful; list of lawyers in Indonesia. I've also heard that the fraudsters have paid someone in Jakarta to keep quiet about their criminal activities!

I for one don't want any part in a lynch mob as there may be people in the office who don't know what they are really doing (which is why I won't encourage anyone to go to Jakarta), but I intend to keep publishing information to try to bring this gang's fraudulent activity to light. It might not get your money back, bu by working together we can try to put a stop to their gang. As I've mentioned to the people emailing me, I am happy to publish any information that will help further people's awareness of this group. So feel free to contact me via the comments option, or the boilerroombuster email address, with any information that I can publish to help others - anonymously of course.

more next time

They're coming to take me away, ha! ha!

In my posting of 16 December I highlighted some boiler room fraudsters that had been arrested and jailed after running a boiler room out of Spain.

Well, some more have just got banged up by the UK police. See the following links for the story on Jairo Bonilla and Evelyn Fallas, who were also working out of Spain:

blog.cps.gov.uk/

ftadvisor.com

I said last time that I didn't know if Matt C knew the fraudsters, and I don't know if he knows these two either. But the boiler room community is fairly tight knit - even if you're not working with certain people, you will most likely know them and exchange information (like the infamous 'sucker' lists - see my previous post, para 3 from 2 November). Plus, I mentioned in that December posting that I believed Matt started in Spain, in which case he probably did know them!

Anyway, more scum out of the way. I know there are still more scammers out there (look at Robinson Franklin!!), so please, tell your friends and family about boiler room fraud and warn them never to give their money to cold callers! And don't forget - if you  have been a victim of investment fraud, you can contact FSA or Action Fraud, and help to get a few more scammers put away!

You can also comment to the blog for me to publish or email me (boilerroombuster at hotmail dot co dot uk) any info you think would be useful to others - I will only put info on the blog you state you are happy with and, of course, anonymity is guaranteed.

Another investment 'opportunity' from Robinson Franklin

I've heard some more about what the gang is trying to sell to people...apparently Robinson Franklin is getting into the technology market (virtually, of course!) and trying to sell people shares in Intel, because they 'know' Intel is planning a big deal with Apple. Now, I don't sit on board meetings for Intel or Apple - and somehow, I doubt that our boiler room crooks do either - which means that unless they're psychic, their 'privileged information' is nothing more than worthless bullshit designed to draw you in!

Whilst there's nothing wrong with investing based on how you predict companies will behave, there is something very wrong about setting up a bogus brokerage (like Robinson Franklin), making up insider information, and then trying to sell fake shares to members of the public. And that's precisely what's happening here. Don't fall for it, it's a complete scam!!

They're quite clever about it though, telling people that they're using the 'corporate fund' to buy stocks on their behalf - so you feel like it's not your money and you're safe to go ahead. Then, when the bill arrives telling you that the shares have been bought and you need to pay within 3 days, you feel obliged to. Well, I can assure you that you don't need to pay them a penny. They're fraudsters, and they probably haven't even bought the shares. In fact, the shares probably don't even exist!

However, if you have already fallen foul of this scam, and you're worried about any officious loking documents they send you, don't be. They're not going to take any action against you, because that would just expose their scam to scrutiny, which is the last thing they want. Remember, they're the criminals here, not you. So, please, don't give Robinson Franklin (robinsonfranklin.com) or any of the other boiler room 'companies' mentioned here and on the other forums I've linked to, any of your hard-earned cash!


more next time

More information on boiler room recruitment

In my post of November 22nd "How did I get involved?" I talked about the process of my recruitment. Well it's still much the same, except that now recruits apparently go through psychometric testing first (after all you want to weed out the ones with a conscience as much as possible!!).

What I didn't know previously was that, apart from a salary, the recruiters also get bonuses when new recruits complete their first deals. Well that's quite an incentive for them to get people in to fill the 'jobs' then. I've heard the recruiters salary is in the region of $100,000 - that could just be a rumour, but where there's smoke there's fire. Because of the turn-over of staff (not all recruits turn out to be suitable and are sent back, some simply run away and others, like me, realise what they're doing and leave) the recruiters are on to a good thing - even if the recruit leaves early, chances are he'll have closed a few deals already, kerching!

If you're interested in what an advert for a boiler room looks like, take a look at these two websites:

Jayde Stewart in the UK - www.jaydestewartassociates.co.uk

African Compass Trading - www.africancompasstrading.com - It's run by someone called "David Guy Hamburger" - I guess this is part of their drive to recruit in South Africa which I mentioned in my post of Nov 22. It's a nice website, but if they want to be taken seriously, why are they using anonymous hosting services?

I can't say for sure whether Ms Stewart and Mr Hamburger are aware that they're working for fraudsters, but if they come across this blog I hope it will prompt them to do a little digging of their own (due diligence, you might call it) and decide whether they're really happy for their companies to be linked to a boiler room scam.

more another time

I fought the law, and the law won

A lot of people have asked what to do if they've been a victim of Matt and co's gang, so thought I'd post something on the issue.

The gang act as though they are above the law, but actually the police back in the UK are cracking down on people who use these criminal scams to fleece innocent members of the public. The City of London Police launched "Op Archway" (there's a link on the right under "Useful Links"), which is the national intelligence reporting system for boiler room fraud - some of the fraudsters have already been caught and sentenced, here's a link about two Brit fraudsters - Daily Mail online.

I do wonder what happens when these people are in the interview room...is there honour among thieves? Do they hold up their hands, confess all and hand over their victim lists? Or do they stick to their criminal ways and let their contacts end up on the black market for people like Matt C to pick up and add to their phonebook?

Mind you, with everything the police can do these days - computer forensics etc. - if I had been passed a list that had previously been used by a someone that had been convicted, I'd be a worried man!

So, if you have been a target of these fraudsters then the first port of call is to contact your local police, who can then contact the City of London Police. Alternatively, there's a boiler room fraud questionnaire which can be completed here: www.cityoflondon.police.uk/CityPolice/ECD/Fraud/boilerroom.htm and sent to the police. The postal address is: Operation Archway, 21 New Street, London, ECM 4TP. It's serious stuff, but there is a lighter side - take a look at these boiler room crooks who clearly thought they were too clever to be caught - bet they regret recording this now!

YouTube clip

The full story behind this video is here: Surrey Police boiler room story

With all that high pressure selling I guess it's not surprising that boiler room employees need to find a way to let off some steam, whether that's baking fairy cakes, playing shoot 'em ups on the X-box or dancing like a fool...

I'm off now, more next time

Matt Cornish is paranoid, I think I may be too (now)

While I've been looking on the internet for stuff about Premier Partners and Matt Cornish (to help back up my blog) it's been great to see that there are some other ex-boiler room people out there posting about this sort of criminal activity - it's one thing to quit once you realise you're working for a bunch of crims, but I know that taking the decision to write about it is a big step to take. And I for one will be keeping my anonymity.

There's no way I would be doing this blog if I still worked there. Matt is so paranoid he snoops on his employees - he has no respect for privacy and treats everyone as if they're at boarding school, sending out memos dictating how they should behave and a dress code (daft really, we weren't exactly public facing and it was often hot - I used to rebel a bit and wear flip flops at every opportunity away from the office ;-))

There was even a time when I suspected he was snooping on our emails... I admit, it left me pretty paranoid too, and I've kept my profile low as a result - so, no facebook, linkedin, flikr etc. Maybe it means I miss out on 'social media', but then again I have a real life, and anyway I think exposing these fraudsters is more important than all that online 'socialising' - still, I can always go down the pub.

Besides, I have a stable relationship now, an a decent job in the UK that even includes a couple of days working from home each week - which is nice.


more soon, I'm on a roll

The police are coming.......

I've been doing some searching on the web and can see that Spain (where I believe Matt Cornish started out) has become quite a focus for the police cracking down on boiler rooms.

It certainly looks like the credit crunch is biting the boiler rooms in the arse. Take a look at the following links to see some of these crooks getting what they deserve:

Costa Del Crime blogspot - seven guilty of fraud
Typically Spanish dot com - 15 Brits arrested

I don't know if Matt Cornish knows any of these people, but I'd be surprised if with his 'legendary' contacts he didn't, particularly as these all appear to be Brits.

I wonder if the Indonesian authorities will be taking a similar stance??

In the spirit of sharing, if you find any similar stories feel free to link them here

that's all for now

How do they do it? Part 3

Something I forgot to post previously was about their phones. As I mention in the tag-line at the top of the blog, this gang is operating out of Indonesia. The thing is though that when these fraudsters call you it could look like they're calling from pretty much anywhere. They have a system of VOIP (voice over IP) phones and are using 'direct inward dialing' numbers so that it will look as if you're getting a call from Tokyo, New York or any number of other big financial centres.

It's really sneaky, and just another indication of their underhand practices - you simply can't trust anything about them, they are cheats and liars (and yes, I do remember that I was one of them. That's why I'm writing this blog).

Just in case any of you are in doubt about the contents of this blog, check out the following links as they contain complaints from victims of this group:

Complaints board - Premier Partners
trade2win - boiler room scams
Hong Kong Investor alert list
Complaints board - Delta Continental
World Law Direct - Delta Continental - (this one mentions lots of other, apparently related, companies some of which do sound familiar and includes Cornerstone Worldwide)
Scam dot com - Fortis Corporation


more later

Problem?, what problem?

Today I'm going to go slightly off topic, only slightly though.

The boiler room gang has had, and continues to have, a bit of a problem with drug use among the employees. This is a double worry for Matt Cornish and his bosses as not only does drug use affect their ability to con their victims but Indonesia has tough policies on drug possession.

In an attempt to get around this the boiler room management have tried to adopt a 'zero tolerance' attitude and have even sent round memos discouraging people from going to certain nightclubs associated with drug use - I think Stadium was the name of one. Every employee has to sign a written declaration saying they understand Indonesian laws and that they risk being fired if caught visiting dodgy clubs. The declaration even allowed for the 'company' to perform urine tests for drugs.

They have had a lot of trouble with heroin addiction in particular - one chap from the UK was fired and re-hired on numerous occasions and has a reputation in the gang for his behavior, which included: harassing the managers by phone and email for a job, turning up at meetings while high on heroin, and for other activities I won't go in to.

Please remember, if someone calls out of the blue offering to sell you stocks/shares HANG UP IMMEDIATELY - no matter how good the deal sounds or how convincing they are, genuine trading companies don't cold call.


more later

How do they do it? - Part 1

Firstly I'll ask if you have heard of www.premier-partners.com.

The gang (and I'm going to call them that because they are one!) uses plenty of fake front companies to convince potential 'customers', but one company the keen investor may have heard of is the aforementioned www.premier-partners.com.

Looks good  doesn't it? That's because they spend a lot of time and money trying to look legitimate.

But you know what: It's not legit in any way!! It's a front, a facade designed for one purpose only - to rip you off. It's there to convince you they're legit so the next time they call you you're more likely to buy whatever they're selling. Make no mistake, this is a BOILER ROOM. (< that's a link to a Wiki page)

For a criminal scam it's pretty complex: the first time a "client" is contacted, it'll be someone from the TQ office (telephone qualifiers). These guys figure out the good leads, trying to work out who sounds like they can be bullied into parting with lots of cash.

The good leads are then passed on to the AO's (Account Openers), who persuade them to invest a "small amount" (if you can call 1000s of dollars/pounds etc small!!). Once they've got an investor, they pass them on to a Loader who screws as much extra cash out of them as they can.

The different people are organised into different offices, and they all have managers (it's got all the same shit as a real sales job - managers, paperwork, targets). The managers always use fake names, some of which I will mention later, but include Karl Benson (Matt's lardy sidekick). Most of the offices are a mix of Brits, Irish, Filipinos and locals.

Take it from someone who's been on the inside of this criminal syndicate, there's nothing legitimate about the investments they offer you and none of it is regulated by the financial services industry. In fact, working in an unregulated environment is just another way of saying they're going to take your money and run!

Here are a couple of links about another boiler room that has been closed down: City of London Police, article and BBC video - short

So, if you're concerned about a company (cold caller or not) just use one of the 'Useful Links' on the right of the blog to see if it's registered.