Boiler Room Tactics
The phrase “boiler room” describes a sales operation that uses aggressive tactics and sometimes antagonistic sales calls to recruit possible investors in stock. While aggressive tactics to sell stock are not necessarily wrong, individuals running operations that defraud potential investors can be charged with boiler room fraud by federal and state authorities.
The consequences of such a charge are serious and may be detrimental to someone’s reputation and business, even if they aren’t true.
With help from the dedicated criminal defense team at Rothman & Associates, P.A., you can trust that your future is in good hands. When you come to our firm, you will receive outstanding representation and capable advocacy. We are committed to fighting on your behalf and have extensive experience dealing with charges of fraud and other white collar crimes.
Our firm can capably handle boiler room charges. Call (305) 358-9000 today!
Boiler Room Charges & Penalties
A differentiation between bad investment advice and intentional fraud must be made. Even if an investor loses money, that does not necessarily indicate fraud was involved. A true boiler room situation occurs when someone intends to gain from tricking investors into giving them money, or when reckless disregard for true facts concerning the investment is present.
Take a look at some examples of boiler room fraud:
- Ponzi Schemes – Old investors gain money from new investors and profit is only generated by new business.
- Microcap Fraud – Penny stock value is falsely represented by aggressive sales tactics until the sellers make profit.
- Pre-IPO Scams – Investors think they can buy into an IPO, but are instead sold false shares.
These schemes and scams may result in a laundry list of criminal charges.
Some criminal charges that could be brought up in a boiler room scheme could include:
- RICO Violations
- Wire Fraud
- Money Laundering
- Investment Fraud
In order to properly defend yourself from charges, you need a lawyer who is well-versed in every aspect of law concerning fraud and white collar crime. The penalties for a boiler room scam could mean imprisonment from 20-30 years and fines up to $1,000,000.
Let Us Fight For Your Reputation!
Whether or not accusations concerning a boiler room scheme are true, they could still do serious damage to your reputation and your company. Don’t wait for things to blow over, take action and enlist the help of our capable Miami criminal defense attorneys in fighting on your behalf and clearing your reputation. With over four decades of experience, our firm has considerable expertise in areas of criminal defense and can effectively handle whatever white collar crime charge you may be facing.
Our lead attorney, David B. Rothman is a Board Certified Criminal Trial Advocacy Specialist by the National Board of Trial Advocacy. This means that your case is being handled by an expert and that you can trust you are being taken care of. Contact the firm today for more information.
Skilled defense is a phone call away. Call (305) 358-9000 to get started.