boiler room

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Boiler room

Used to describe place or operation in which unscrupulous salespeople call and try to sell people speculative, even fraudulent securities.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Boiler Room

Informal; a place where workers make unsolicited telephone calls to completely unknown persons in an attempt to convince them to invest in a particular venture. Boiler rooms are controversial and some jurisdictions have put in place laws limiting their legitimate use. In any event, the term has a negative connotation; one often hears of boiler rooms in the context of shady and perhaps illegal investments.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

boiler room

An area in a sales operation in which are located personnel who are engaged in contacting prospective buyers, usually by telephone, and in using high-pressure tactics to sell securities. These operations are associated with high commissions and unethical practices.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

Boiler room.

A boiler room is a location used by con artists to contact potential victims out-of-the-blue -- an approach known as cold calling -- in an attempt to sell high-risk investments that may or may not be legitimate.

Boiler room scammers typically use high-pressure tactics to close an immediate sale and are unwilling to provide written information about either the investment they are pushing or themselves.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

boiler room

A lead-generating system usually characterized by large groups of people working in cubicles making cold calls to consumers in order to gauge interest in real estate investments,insurance products, refinance offers, or any number of other products.The leads are then sold to professionals for follow-up. Sometimes,the boiler room operation also engages in high-pressure sales techniques, which has lead many states to pass legislation allowing a cooling off period within which to reject and void any contracts entered into as a result of such tactics.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The historic building in the city's South Street where Robert Stephenson built the famous Rocket - now reborn as an arts and events venue - is set to host a Boiler Shop Emporium on June 9.
Riverside is being headlined by Avalanche Party while Boiler Shop crowds can look forward to sets tonight from Catherine McGrath and Blaenavon.
Mr Mawdsley's vision has been inspired by the many city centre popups he has visited around the UK, including the Peddler Market in Sheffield, Baltic Market in Liverpool, By The River Brew Co and the Boiler Shop Steamer.
Bongo's Bingo will be back over the road at its usual home of Boiler Shop on Sunday night for the fourth and final one of it's St Patrick's nights with special guests B*Witched.
Mavis Staples at the Boiler Shop was on top form, too - and with a new lease of life as she proved on her recent chart success with Hosier - and a few months later the same venue resounded to the irresistible reggae romp of Toots & the Maytals.
Organised by The Journal and The Gazette with associate sponsors Brewin Dolphin and support sponsors Leathers the Accountants, the awards night saw more than 450 guests pack the Boiler Shop in Newcastle last Thursday.
Now Mr Mawdsley and the team want to combine their experience to create the Salt Market Social, which has been inspired by the likes of Newcastle's Boiler Shop Steamer and shipping container community By the River Brew Co in Gateshead.
It might not be their own song but B*Witched lifted the roof of Boiler Shop on Friday night when they performed Wilson Phillips' classic Hold On.
This walk started at the Discovery Museum to view Stephenson's Rocket and celebrated the life of Robert Stephenson with a visit to the Boiler Shop behind Central Station, where the Rocket was built.
A total of 11 awards will be presented to organisations and individuals working in the charity sector at the ceremony, which is being held at Newcastle's Boiler Shop on September 28.