SEC Charges 13 Individuals Involved in $10 Million Boiler Room Scam

[kreslik.news]

The US Securities and Exchange Commission (SEC) announced it has pressed charges against 13 individuals who were allegedly involved in two cold calling scam operations based in New York. The total amount of stolen funds is estimated at $10 million.


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Scam operation tactics

The SEC has accused the group of running boiler room call centers, from which representatives made sales calls, including threats and dishonest sales techniques. In many of the calls the victims, most of whom were elderly, were pressured into buying penny stocks. ... (read more)