Boiler Room Scams Thailand

The authority says that victims can lose all of their savings or even their family home.

Boiler room scams thailand.

In business the term boiler room refers to an outbound call center selling questionable investments by telephone. In boiler room scams fraudsters call people out of the blue to offer worthless overpriced or even non existent assets such as shares or bonds using high pressure sales tactics. Since that date boiler rooms have continued to flourish and a lot more boiler room cash has gone into bangkok s notorious night life establishments and for a while some even went into an english football club. British businessman tony kenway shot in thailand ran wolf of wall street style boiler room scam that tricked brits out of millions of pounds cops are hunting two men one a fellow brit in.

Set up as investment companies the offices are staffed with pitch men and financial experts and management staff who are all making a tidy sum of money. The collective forces of thailand indonesia malaysia and the philippines have failed to take any action against boiler room fraudster people who set up fake share trade houses as it s a win win situation not to take such action as all the fraudsters are doing is draining the resources of people in the west and bringing it east except perhaps nw in the case of the aussie and nz. Bangkok is one of the boiler room capitals of the world. These boiler room scams happen to many singapore and malaysian people.

As seen in the movie boiler room boiler rooms are rooms that the sales pitch is so hot it boils. In 2013 tracey mcdermott then the regulator s director of. It was said a few years ago that there were as many as 30 extremely profitable boiler rooms in the thai capital. Recently however there has been an exodus of boiler room men from thailand to cambodia.

Bangkok based brinton group investment firm boiler room scam.