Wednesday, February 23, 2005

Heritage Financial Inc - Boiler Rooms at Work

Heritage Financial Inc have been calling potential investors, offering $14.80 per share in both BDC and SRPJ. Both of these stocks (BDC
and SRPJ
) are the subject of discussion at the Boiler Rooms UK forum. Because the shares in these companies are restricted (regulation S), Heritage Financial are claiming that a fee needs to be paid to lift the restrictions.

They are also claiming to be registered with US Government sites, but the sites that they tell you about, although looking genuine, are fake. A hard sell ensues, with many plausible arguments being used, but the bottom line is that they are offering huge prices on stocks that are worthless.

Why?

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