The Organized Crime & Corruption Reporting Project (OCCRP) recently published a report referencing a trail of broken lives that led to a call center in Kiev. It’s the story of yet another boiler room fraud operation, targeting and often devasting the lives of individuals all over the world.
The boiler rooms date back to the 1930s, when some frustrated Canadians pondered what they should do with their lives after prohibition had stopped. Burgeoning securities laws, such as the Securities Exchange Act of 1934, led to fraudsters setting up the sale of bogus securities outside of legislation. This fraud is said to have been passed through a number of generations and causes some to conclude the Canadians are the best in the world at operating boiler room schemes.
