Watch out for boiler rooms operating in Makati - but especially in Salcedo Village!

These parasites snuggle amongst the normal businesses and can almost not be told apart except you wont see a name on the name board at the front of the building or inside for them, they generally hide behind stairwells or blackened glass doors and change names and move locations frequently - stating reasons like - expansion.....They rely on staff recruitment from existing staff leads and appoint from within. They normally run tandem operations, one supporting the other, without the employees knowing about each other.

They are always using fancy company names in their sales pitches like Carter Sinclair or Trent Consulting, Goodwin Capital, Strathclyde and Associates etc. And "would you mind if one of our financial advisors called you?" (normally a name like David Kane, George Spencer, Sue Grant, George Cooper etc)

Well check out these pages for those names - they're listed as scams and investor alerts......

http://www.fsa.go.jp/en/refer/cold/index.html Japanese Financial Services Authority - search Carter Sinclair

http://www.fido.gov.au/fido/fido.nsf/byheadline/Cold-calling-blacklist-G
search for Goodwin Capital

all being sold right here in Salcedo village......

They pay well, treat the staff to regular outings, give a lot of time off and pay lots of bonuses. They shut shop and give the staff time off when ever investors locate them and try and disguise their activities and relocations with plausible denials.

Does this sound like a company you know or work for.....

Employees never see the "mind and management" behind the business and the registered directors are always "fall guys" appointed to take the legal consequences. The business is compartamentalised and "layered" so no one knows exactly what happens to their "production". It's quite simple - leads generated are used to scam people out of their life savings. Most good honest Filipinos don't even know they are being "used and abused" - reading scripted formats, lying about their locations and hiding behind caller ID barred VOIP phone systems installed to disguise their true locations......

Have a look at this site http://hitthemback.community.officelive.com/default.aspx

and look on the page "breaking news"......you may even know some of these people...

Boiler Rooms have no part in society and they are a cancer to business and to society.

and if you work for a BR or know anyone who does -

Check this out...

Sentence for Syndicated Estafa - Life Imprisonment or Death - by Presidential decree...
NOW THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order as follows:

SECTION 1. Any person or persons who shall commit estafa or other forms of swindling as defined in Articles 315 and 316 of the Revised Penal Code as amended, shall be punished by life imprisonment to death if the swindling (estafa) is committed by a syndicate consisting of five or more persons formed with the intention of carrying out the unlawful or illegal act, transaction, enterprise or scheme, and the defraudation results in the misappropriation of moneys contributed by stockholders or members of rural banks, cooperatives, "samahang nayons", or farmers' associations, or of funds solicited by corporations/associations from the general public.
http://www.urbanbank.info/PD1689.htm


In order to impose the penalty of life imprisonment to death under Sec. 1, P.D. No. 1689, the estafa or swindling must be committed by a syndicate. The law plainly states that a syndicate consists of five or more persons formed with the intention of carrying out the unlawful or illegal act, transaction, enterprise, or scheme, and the defraudation results in the misappropriation of money or of funds solicited by corporations/associations from the general public.