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This is the Invest Ed® Investment Minute, the voice of investor protection in Oklahoma.
Despite their name, boiler rooms will only leave you cold.
In a boiler room, con artists sit, bilking people out of money over the phone.
They go beyond simple telemarketing.
Boiler rooms are often used to promote an unknown penny stock or other bogus investment
opportunity.
A call from a boiler room comes with intense pressure.
And these con artists won’t take “no” for an answer, but saying “yes” will get
you into financial hot water.
People have lost millions to these high-pressure scams.
Be wary of cold calls wanting you to buy securities.
Never give credit card or checking account information over the phone to a person you
don’t know.
And don’t be afraid to simply hang up.
For more information about this topic and other investor education resources, visit
us at investedok.org.
The Invest Ed® Investment Minute is designed to educate you about securities fraud.