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 classic literature ?
Plying us both with questions they hustled her to the captain's cabin and me to the boiler-room.
Not suprisingly, an inordinate number of telemarketing firms (and fraudulent boiler-room operations) are located in California.
contracted with unlicensed broker-dealers and sales agents who solicited prospective investors by means of cold calls and used boiler-room sales tactics to pressure members of the public to invest in the unqualified, non-exempt securities.