The report, published by the British financial regulator, the Financial Services Authority (FSA), found that investors in boiler room scams in Britain lost an average of £29,000 each. In boiler room scams, unauthorised overseas companies make high-pressure sales calls that encourage a consumer to buy shares which are ‘‘about to go through the roof’’.
However, the shares are completely worthless and the consumer never receives them.
Last week, Bank of Ireland...
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