Industry WIKI

In business, a boiler room is an outbound call center selling questionable investments by telephone. It usually refers to a room where salespeople work using unfair, dishonest sales tactics, sometimes selling penny stocks or private placements or committing outright stock fraud. A common boiler room tactic is the use of falsified and bolstered information in combination with verified com

An exit scam or rug pull is a confidence trick or fraud, perpetrated under the guise of a legitimate business, that ends when the originator absconds with the funds contributed by participants. When a business entity pulls the rug and stops shipping orders while receiving payment for new orders, it could take some time before it is widely recognized that orders are not shipping. The enti

Pawnbroking, lending money on portable security, began in ancient history. The practice was widespread in many parts of the world, from ancient Greece to medieval China and medieval Europe.

WinCapita, previously WinClub and GiiClub, was a Finnish Internet-based Ponzi scheme that advertised itself as a private investment club engaged in currency trading. In reality, it was a bucket shop like many other foreign exchange fraud schemes. It operated mainly in Finland, with a smaller number of members also in Sweden. The operation collected about 100 million euros from more than