boiler room


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boiler room

n.
1. An area, as in a building or on a ship, that houses one or more steam boilers or hot-water tanks.
2. Informal A room equipped with telephones for making cold calls usually involving high-pressure or fraudulent sales pitches.

boiler room

n
1. (General Engineering) any room in a building (often in the basement) that contains a boiler for central heating, etc
2. (Mechanical Engineering) the part of a steam ship that houses the boilers and furnaces
3. (Industrial Relations & HR Terms) the room or department in which the real work of an organization goes on unseen
4. (Industrial Relations & HR Terms) (chiefly US) an office used by a team of telephone salespeople, esp of stocks and shares, operating under high pressure
5. (Law)
a. a fraudulent scheme in which investors are encouraged to buy non-existent, worthless, or over-priced shares
b. (as modifier): a boiler-room scam.
6. (Stock Exchange)
a. a fraudulent scheme in which investors are encouraged to buy non-existent, worthless, or over-priced shares
b. (as modifier): a boiler-room scam.
References in periodicals archive ?
With this information about the victims' trades, the orchestrators and the boiler room sales personnel allegedly placed opposing sell orders to dump their own shares, realizing more than $14 million in illegal proceeds while the victims lost millions of dollars, including retirement savings.
A few years ago no one had heard of carbon credits, but they've become a favourite vehicle of boiler room scammers.
21 March 2016 - US-based boiler room solutions provider Cleaver-Brooks, Inc.
These are a spin-off of boiler room scams, in which victims are pressured into buying goods or services that don't exist or at inflated prices.
A boiler room fraud is where a bogus broker, usually based overseas, cold-calls investors and gets them to buy worthless shares.
It also says one new boiler was located in the existing boiler room in the basement.
Now, with the help of allied teams abroad, Boiler Room has started up three new outposts in Berlin, LA and New York.
BOILER room fraudsters are making greater efforts to target consumers, but with less success, according to Financial Services Authority figures.
The crimes are called boiler room scams after the pressurised techniques employed by the broker.
They organised a team of volunteers to paint brightly-coloured pictures on the boiler room, lay a new path and create a new recycling and composting area at the school in George Street, Hillfields.
Fire broke out in the boiler room at Crosland Moor Junior School on Dryclough Road yesterday morning after the 415 volt electrical supply blew.