boiler room

boiler room
A room set up as a telemarketing operation, but used to run scams, such as selling fake jewelry or stocks.
Example Citation:
Here's how it works: A marketing service sends junk mail, including information on a Canadian lottery, to Americans, and develops a contact list from those who respond, said Hillsborough sheriff's Detective Skip Pask. The marketers then sell the contact list to a criminal group in Canada that sets up a boiler room, or location stocked with dozens of phones and employees who do nothing but make calls to the United States.
— Amy Herdy, "Sweepstakes scam dupes elderly," St. Petersburg Times, April 4, 1998
Earliest Citation:
A nationwide survey by the CFTC staff uncovered what Bagley described as "disturbing" evidence that diamonds as well as copper, foreign currencies and platinum are being sold fraudulently with fast sales pitches across the country.
Indeed, many of the same boiler room sales tactics that characterized the sale of London commodity options — and led to a ban on such trading that started yesterday — are being used to sell diamonds as investments, Bagley said.
— William H. Jones, "Agency Asks Action on Potential Diamond Swindles," The Washington Post, June 2, 1978
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Look at other dictionaries:

  • boiler room — boil·er room n: a room equipped with telephones used for making high pressure usu. fraudulent sales pitches Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. boiler room …   Law dictionary

  • boiler room — n. 1. a room where a boiler is located 2. a room with telephones in which high pressure and often deceptive sales, solicitations, etc. are conducted boiler room adj …   English World dictionary

  • boiler room — n 1.) a room in a large building where the building s boiler is 2.) AmE informal a room or office where people sell ↑shares or services on the telephone, using unfair and sometimes dishonest methods …   Dictionary of contemporary English

  • boiler room — boiler room, adj. 1. a room in a building, ship, etc., that houses one or more steam boilers. 2. Slang. a. a place where illicit brokers engage in high pressure selling, over the telephone, of securities of a highly speculative nature or of… …   Universalium

  • Boiler room — * A boiler room is a room where a boiler is kept, it may also refer to:* Boiler room (building), building s mechanical room * Boiler room (ship), ship s engine room * Boiler room (business), telemarketing company * Boiler Room (film) * The Boiler …   Wikipedia

  • boiler room — Used to describe place or operation in which unscrupulous salespeople call and try to sell people speculative, even fraudulent securities. Bloomberg Financial Dictionary * * * boiler room ˈboiler room also ˈboiler shop noun [countable] FINANCE an …   Financial and business terms

  • Boiler Room — Filmdaten Deutscher Titel: Risiko – Der schnellste Weg zum Reichtum Originaltitel: Boiler Room Produktionsland: USA Erscheinungsjahr: 2000 Länge: 120 Minuten Originalsprache: Englisch …   Deutsch Wikipedia

  • Boiler Room — A place where high pressure salespeople use banks of telephones to call lists of potential investors (known as a sucker lists ) in order to peddle speculative, even fraudulent, securities. A boiler room is called as such because of the high… …   Investment dictionary

  • boiler room — UK [ˈbɔɪlə ˌruːm] / US [ˈbɔɪlərum] noun Word forms boiler room : singular boiler room plural boiler rooms 1) an area or room that contains one or more boilers for producing power or hot water 2) informal a room from which people try to sell… …   English dictionary

  • boiler room —    an operation for the unscrupulous selling of securities    Punning on the intense heat applied. Also as boiler house or shop:     ... an ex con called Sidney Coe who had time for a boiler room operation in Kansas City. (Sanders, 1990 Sidney… …   How not to say what you mean: A dictionary of euphemisms

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