Wednesday, February 25, 2015

Wednesday, February 25, 2015
5


Chavs and Babes

By Andrew Drummond


It is probably one of the quickest ways to earn serious money without actually having to work for it. Boiler room operations are taking millions daily from people worldwide in share selling scams – and boiler rooms are why I left Thailand recently to ensure the safety of myself and my family.

They seem impossible to crack. Britain’s Serious Organised Crime Agency did close some down in Spain – but the cash the recovered was negligible. But in that case European police were collaborating.

Now the National Crime Agency are on the case - but don't hold your breath.

Thailand has always been the perfect place to run these crime syndicates – the people who staff them are lured by the cheap and unlimited sex, booze, and shortly after joining, drugs as well.

If they ever had a conscience, a sense of right of wrong, they quickly lose it in Bangkok.

And Hollywood recently promoted the 'boiler room' lifestyle in the film ‘Wolf of Wall Street’.

 It has not helped that Jordan Belfort the subject of the film, which glamourised the operations, only did 22 months in jail after doing a deal with the US authorities and now is on the ‘motivational speaking’ circuit.).

It is an indication of the secrecy of these operations that the US authorities needed Belfort to turn State's Evidence to have a successful prosecution.



The boiler room bosses in Thailand are attracted by the fact that the authorities can be easily bought. So in the kleptocracies of Thailand, the Philippines, and Indonesia, these syndicates have always lived under the umbrella of the police and military who take a sizeable share.

But Thailand is their favourite home. Its easier to keep their 'staff' happy.

And as for the international banks – as far as the Boiler Room operators are concerned – despite international money laundering regulations – the banks could hardly be sweeter.
Jordan Belfort

Indeed it seems the only way these empires can fall is is by indiscretion.

All operators are required to keep a code of secrecy - and the bosses do this by threats - very real threats - as to what will happen it someone turns 'grass'. And in that case they can get police to do their bidding.

Over the next few weeks this site will carry a series of articles about the Asian operations of these ‘Wolves’. The stories will explain to what extent they go to hide their cash and what happens to people who cross them… the frame-ups and murders.

But first a little light relief as we put the spotlight on the work of the youngish staff who are tempted by ads on Craiglist to make their fortune.

You'll see these guys are all over Bangkok, Pattaya and Chiang Mai.  They start as openers, carry on as fronters and loaders and some finally end up on the suicide beat – that is when for another amount of cash they persuade a suicidal person he/she can get his/her money back.

Here follow some of the scripts unearthed in Pattaya for the company Talbot & Reese which was promoting penny shares in a supposed oil company called Tri-Coastal Oil and Gas. But first notice how the boiler room pays so called PR companies and news agencies to spread  glowingly positive but totally false news on the net.




Talbot and Reese is linked to two major boiler room operators in Bangkok. Briton Paul John
Hayward
Hayward from Birmingham, UK, also known as Paul Hilton, and US citizen Glendon Bullard former President of the Thailand Outlaws Motorcycle Club.


Hayward controls the lease on Nana Plaza sex entertainment area in Bangkok through a number of proxies and Bullard leases bars there. Defrauded investors had paid cash into the Taipei Fubon Bank in Taiwan.


This money was then transferred to the Aniela Liena Management Inc account at the Bank of Commerce in Makati, Manila, and the person authorised to sign for that account was British citizen David Strudwicke, a former Chiang Mai bar owner. now well known in Pattaya.

David Strudwicke and another Briton Bill Haines were 'bankers' for Hayward and Bullard who brought large sums of cash in US dollars into Bangkok through Suvarnubhmi airport in their carry-on luggage.

This was often exhanges in a local booth on the Sukhumvit Road by pre-arrangement and a 3 per cent fee, according to the FraudRecovery blog.



Kim Fletcher of Jameson's Pattaya hosting David Strudwicke (centre) and BR man Bill
Haines.


THE OPENER

FIRST CALLHello! _______ this is ____________ calling from Talbot and Reese.  How are you today? Great!! 
_______you were contacted recently by one of our marketing companies regarding investments ideas correct? Great! 
Now_____ we are a venture capital company who specializes in taking private companies public. ______ From time to time we look to extend our existing client base determined by the quality of a current project and now _____ is definitely one of those times. 
______ I don’t have anything for you today, all I want to do is introduce myself and our company and send you some information. 
Would you like it faxed or e-mailed? Great, now ______, I will call you as soon as I have a strong recommendation for you, fair enough? Before you go I just need some brief details from you to help us present an investment opportunity that suits your investment needs. 
1. Are you an investor (if yes locally or offshore if no where does your money currently work for you?) 
2. Where do you get your investment ideas from? 
3. What percentage gains are you currently receiving from your investments annually?
4. Are you in a liquid position to take advantage of an investment opportunity if it makes good business sense to you? Fantastic.
 
That’s it for now. I promise I won’t waste your time,______. I will only call you if I have something exceptional, fair enough?
Ok, thanks for your time, bye for now.


A SECOND CALL TO BUILD UP ANTICIPATION AND TO BAIT THE CUSTOMER WHO REJECTED FIRST TIME AROUND - JUST FILL IN THE BLANKS.

Good morning/Afternoon, may I speak with Mr. ………. please.  Mr. ………., hello. My name’s .......... and I’m calling from..........Can you hear me ok?  Good!  You recently spoke with one of my juniors in regards to receiving investment advice.

(You spoke with one of my juniors some time ago regarding investments. At the time it wasn’t something you could consider so we left it we’d come back to you with our next reco.)  Mr……….., I don’t have anything for you today,  I’m expecting confirmation on something very strong over the next couple of days so my objective today is to introduce myself and my company to you.
 
 Firstly, may I confirm your email address as.......... Great.

Mr…….. … so that you’re aware I am a Senior………. For..........and my job is to maximize profits for our existing clients as well as identifying opportunities to bring prospective clients like yourself on board.

I appreciate we’ve not spoken before so I’d like you to know that.......... is, in essence, a research and analysis house.
 
Traditionally, the way we make our money is by researching companies over a period of 6-12 months on behalf of our corporate clients. 
Once we’re happy with the logic and fundamentals we provide them with reports and advise accordingly for a fee.  Every now and then we come across a company which offers low risk-high yields and in these instances we like to pass them down to our private clients, and of course use them as a vehicle to do business with prospective new clients like yourself.  Does that make sense?  Good!
Typically, we don’t look at big blue clips like vodafone or say, google – we analyze more modest, small cap companies because that’s where huge levels of profit can be seen over the short term.  Are you with me so far?  Great!  (Mr……….., what would you say your portfolio is returning you, on  average, per annum?) Ok.

Unless we feel confident that we’ll show you a minimum 40-60% return over a 10-12 month period.  
 
We will not entertain that company.  1.) Because in order to ensure your future business we must perform well for you on this first, trial trade and 2.) Because the way I earn my living, outside the reports we produce, is by taking a 1% commission on your pure profit only when I exit you from your position.  So unless I make you money I earn nothing, Fair enough? Great.

I have your first name as………., May I call you………?  Thank you, please call me……….I just need to confirm the details my junior’s taken from you. (age, status, aggressive/conservative)
 
And if we do get the green light on this, once you’ve seen everything in black and white, if it makes perfect business sense, you understand and the risks and are absolutely convinced that it is a solid investment opportunity.   
What level of investment would you consider on a first trade?  5-10, 10-15, 15-20, 20+ US$.  That’s fine!.........., I’ll let you know as and when I have more information for you.  When it does come through which number is best to catch you on? Ok and is morning or afternoon generally better for you?   
That’s great.  Before I go, please take my details.  Again, my name’s………., my phone number is……….and my email address is………...
Do you have any questions for me on this stage?  Ok.  Pleasure speaking to you………, I’ll look forward to speaking to you again soon. Bye for now!




SECOND CALL

LOUD AND MEGA ENTHUSIASTIC!

Hello, may I speak to Mr………..please?...........hello!
 
It’s………..from……….Can you hear me ok?   Great……….I only have a minute – I’ve got some great news! I’m just stepping into a meeting with my analysts to confirm a private allocation on a fantastic company! At this stage, I can’t give you the name as we’re still waiting on solicitors dotting the I’s and crossing the t’s.  What I can tell you is it’s in the oil sector-which is great and we’re looking at a 8-10 month turnaround! Last time we spoke we discussed small, comfortable entry levels of………. US$ I can’t promise anything, but if I can get allocations at those levels, subject to you liking the investment, is that amount liquid?   
Great. I’ll send through some information via your email once I have the green light and I’ll call to you know either way, which number’s best for you? Ok great! Speak to you soon!

The phony Talbot and Reese website


THE FRONTER

FRONTER 2ND CALL [SOUND EXCITED!!!]
Hello!  (Mr. Client) This is _________calling you again from Talbot and Reese, how are you today?  Great!
(Mr. Client), we spoke the other day and I sent you our company profile, did you receive it?
 
(if “YES” – GREAT! If “NO” – OK no problem, (Mr. Client), I will have that re-sent to you as soon as I get off this call.  [check email/fax at END OF CALL – now continue with pitch] 
Now, (Mr. Client) I told you I would only call back IF the deal we were looking at was exceptional.  Well, (Mr. Client) this deal is looking like one of our strongest recommendations to date!!  Grab a pen and paper I will give you some brief details. 
Write this down -  the name of the company is; TRICOASTAL OIL & GAS – they are an international oil and gas exploration company with a special focus on offshore and deep water exploration.  Currently they are a private company based in South East Asia but they are looking to go public within the next 9-12 months. 
(Mr. Client) – I don/t have a lot of time today; please write this down; we are able to offer you a LIMITED AMOUNT OF SHARES in Tricoastal at $6.00 USD per share.   
As I said before they are looking to list on the public markets most likely the HANG SANG STOCK EXCHANGE at $9.00-$10.00USD – THAT’S A PROFIT OF OVER 50 PERCENT!  Is that the sort of profit returns you would like to see (Mr. Client)?  Of course it is! 
(Mr. Client) I don‘t have all the details on this deal right now. However, when I do and you have done your own homework and are completely satisfied, are you be in a liquid position to move on this within 48 hours? [GREAT RESPONSE]

If “YES” – GREAT!
 
If “NO” – Now (Mr. Client), I am not asking you to commit to anything and go to the bank today – what I am  asking is simply IF and only IF after doing your own research on this investment and that you are completely happy with everything – would you be able to pay for the shares within the next 48 hours?

Now, (Mr. Client) – there is no guarantee that I will even have the time to call you back -  we are simply that busy with this deal – but if I am able  call you – then please do yourself a favor and LISTEN TO WHAT I HAVE TO SAY – FAIR ENOUGH? (Mr. Client) –  people who listen to our recommendations make serious returns!

Okay, (Mr. Client), What I am going to do now is send you some brief information on Tricoastal Oil and Gas including their website address.  Which is best for you Fax or E-mail?  Now, (Mr. Client) – please do yourself a favor and read through that material – and have a look at what’s happening with oil prices and in particular what’s happening with oil company ACQUISITIONS.  You will get just as excited as we are about TRICOASTAL and see the fantastic upside potential!
 
(Mr. Client) – Thank you for giving me some of your time today… Bye for now.

If the client starts asking any difficult questions –
 
“That’s a great question, but as I said I don’t have all the details yet. When I do I’ll try to give you a call”






THE FRONTER - (Sam boiler room operation but using different name)


Hi ________.)    This is ____________, senior account executive at Thomas Castle Management in Tokyo, you were recently contacted by our marketing firm regarding business opportunities and promised some information, do remember that?

Great, now it’s my job to send that information to you,  but before I send it I wanted to give you the courtesy of a quick call to introduce myself and give you a brief description of what I will be sending you so you will understand it better and make the information as useful as possible.
 
Thomas Castle Management is one of the most respected venture capital firms in Asia specializing in wealth building and capital preservation for our clients portfolios, we have a long track record of showing our clients an average Return On Investment of 42%-87% in their portfolios in the short to medium term, if I could show you how I could do the same for you would that be enough of a basis for us to continue this conversation to discuss it in detail. 
Fantastic, now at this early stage I simply want to send you our company profile along with a stock recommendation on a Pre IPO phase company in the alternative energy sector by Fax or Email, then get back to you in a few days to answer any questions you may have and determine if you wish to proceed, is that fair enough? Would you like that information sent by email or by fax. 
You are probably aware that alternative energy is the fastest growing industry on the planet right now, correct?  (GET AN ANSWER) 
You are also probably aware that prices have been steadily rising for the past 20 years, correct? (Get Answer) You get reminded every time you fill up at the pump. 
You may also be aware that in the past 20 years oil companies have been generating huge profits for themselves and huge returns for their investors, correct? (Get Answer)
Therefore it would be safe to say that the oil industry will continue to earn large profits and generate substantial returns for shareholders for the foreseeable future, correct?
Have you participated in any of the profit taking by shareholders over the last 20 years?
Why not? (GET ANSWER)
 
If I could show you how Additron Tech Energy Solutions can make you a projected 42-87% Return On Investment in the next 6-12 months and you could verify it yourself by performing your own due diligence, and it made good business sense to you, would you consider investing in Tri-Coastal Oil and Gas Ltd.? 
Are you liquid to take advantage of the opportunity if it all checks out to your satisfaction? 
Most of my long term clients are purchasing 20,000 shares at $6 each totaling $120,000 but the limit for new clients is a maximum of 10,000 shares at $6 each, totaling $60,000, is that a comfortable level for you to start with? (Get Answer) 
Since we are talking about Pre-IPO shares in the Oil and Gas industry, the most profitable industry in the history of the planet, shares are only sold in blocks of 10,000, 5,000, 3000 and 2,000 shares. 
Which level would be most comfortable for you to start with? 
Bear in mind this is our first trade and you have never done business with us yet so I would suggest you start out with a small trade, pick up 5,000 shares today at $6 per share, totaling $30,000 plus our 1% commission of $300.  Would this be a comfortable level for you to start at? 
Summarize and Confirm: 
For my own clarification, what you are truly saying is... you would be liquid for the amount of $____ if it all checks out to your satisfaction and it makes good business sense, is that accurate/correct? 
Great, I will get the information sent to you today; let’s chat again after you have read the information. I will answer your questions, share with you several options as well as demonstrate how Tri-Coastal; specifically buying shares in Tri-Coastal will make you money in the short to medium term. 
Now I typically work by telephone appointment only, do you have your calendar handy? Would tomorrow after 1 PM your time be good for you or would the day after tomorrow in the morning be better for you? (Schedule a firm time to call him back).
Once you determine the meeting time, continue with:
 
Fantastic. I’m looking forward to speaking with you again on ____at ____.
Confirm all decision makers.
 
Just one last thing, the information I am sending you is potentially very valuable and I don’t generally send it out unless it will be useful to the recipient, do you make investment decisions by yourself or do you need to discuss it with someone else?
(If he is the decision maker)

Mr. _________ Thanks for your time today, I will get the information sent to you today.
 
Have a great day!

So are people falling for these cold call scammers. Yes. In the thousands. They will have an answer to everything - accept a physical address.

Shortly after the Brinton Group was raided in Bangkok in 2001 boiler room bosses changes their work arrangement. Previously they had big offices with impressive nameplates, and keyboard security in major office blocks in Bangkok.


Openers, fronters and loaded being bussed by Thai police after the Brinton Group was raided in Bangkok City Tower.
Although this was billed as a triumph of international police co-operation it was a failure of spectacular dimensions and
cemented a long gravy train for Thai police and army. Picture Andrew Chant/Andrew Drummond


They changed that to small offices and rented houses. Later they changed again to apartments usually with a maximum of four people in them - and these can be anywhere in Thailand, Pattaya, Bangkok, Chiang Mai, and even as we have seen Koh Phangan.

The bosses do have offices - but they keep the chavs and babes well away.







Glen Bullard - mugshot when he was arrested for trespass in Georgia in 2008

5 comments:

  1. I presume they don't target US citizens as the SEC would be all over them regardless of where they're based.

    The scripts are pretty basic and appealing to a person's greed. Any reasonably sophisticated investor would think, if it's such a sure thing why are you calling a stranger to tell them this?

    ReplyDelete
  2. Stories like this go totally unreported. Online news sites are dominated by stories about the latest reality shows, the Kardashians and other salacious celebrity gossip. Today we even got a sneak peak inside Kim's make up bag so we can learn her beauty secrets. Meanwhile the banks and our Governments turn a blind eye to this rampant thieving, corruption and money laundering. I guess whilst the right people are being greased nothing will be ever done. The Banksters like to pretend they don't know what is going on. Mind you, if some gabby Londoner called with with this patter I'd hang up before he finished his first paragraph. All these shit talkers are only after one thing- your hard earned dosh.

    ReplyDelete
  3. Good exposé, AD. Your being out of Thailand will give you more leeway to expose farang frauds and corruption in The Land of Smiles (sic). I'll ReTweet and RePost as much as I can. www.matt-owens-rees.com

    ReplyDelete
  4. And I suggest others do the same. It has greater effect than posting only on here where we are already converted.

    ReplyDelete
  5. Paul Hayard intervew

    so whos lie ?

    http://www.stickboybangkok.com/news/paul-hayward-interview/

    ReplyDelete