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Strategies & Market Trends : Quantum Bit Induction Tech (QBIT)

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To: jjs64 who wrote (3)	9/8/2005 1:23:20 PM
From: StockDung	of 4

64.233.161.104 Alert List Thompson & Whitehurst Gives an address of : 410 Park Avenue 15th Floor NY 10022 USA Added on 26 January 2004 Updatd on 6 February 2004 ========================================================== Boiler Room Operations You are sitting comfortably on the couch and the phone rings. The person on the other side introduces himself as representing a legitimate financial firm. He urges you to buy a high technology stock, a once in a lifetime opportunity that you should not miss. Sounds familiar? You may have encountered similar scenario before. It could possibly be a boiler room operator trying to lure you into bogus investment opportunities. Very often, boiler room operations consist of a room full of slick, professional-sounding salespeople continuously on the phone harassing potential investors to make investments using the same smooth script. Because sales representatives cook up their ingredients (sales pitches), inflamed by hot air to make things sound better than they are, this type of scam has earned the name "boiler room". After having duped the first investor, boiler room operators begin to get excited and attempt to cook up the matter further and trap more victims. The SFC had been receiving reports from investors who have received unsolicited calls from stockbrokers claiming to have offices in Hong Kong. In fact, these companies only used facilities of business centres or secretarial firms to make them appear to be operating in Hong Kong. Some of them also use banks in Hong Kong to settle transactions. To warn investors of these boiler room operations, we set up the Investor Alert section that you have just entered in November 2000. An "Alert List" contained a list of unlicensed firms who claim to be, or whose actions might amount to dealing in securities in Hong Kong was also published. The following section describes the common features and facts about these boiler room operations and what you and the regulators can do about them. How do boiler room operations work? How do boiler room operators choose their victims? Why do investors fall for the traps? What should investors do? What can the regulators do? Investor alert lists of overseas regulators

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