Boiler RoomBoiler rooms are the mainstay of the con artists

It should, therefore, come as no surprise to learn that in the year 2014 they are alive and well preying on us all, but most directly the boomers and seniors, those perceived to have the greatest accumulation of wealth.  The activities of the group called out by the FTC is especially egregious as it targeted seniors and their bank accounts.  “They targeted and called senior citizens and lied to them to get their bank account information. Then they used this information to withdraw money from their bank accounts,” said Jessica Rich, Director of the Federal Trade Commission’s Bureau of Consumer Protection. This group is believed to have separated more than $20 million from the accounts of unsuspecting seniors, conning them out of their personal bank accounting information.

The con:

The alleged criminals would make false representation calls specifically targeting seniors. The criminal would represent themselves as calling on behalf of or affiliated with banks, insurance companies of the United States government. They would continue as to how the senior had previously authorized a transaction with which ever company that a check or confirmation of the banking information used was necessary.  The services which callers would push upon the seniors included “fraud protection services” or “medical discount benefits” – the caller then would march the senior through a scripted questionnaire  where the senior was “instructed to provide YES answers.”  Then using what is known as an RCC (remotely created check) they would debit (withdraw) $100 to $400 from the senior’s bank account, and use “authorized by account holder” in lieu of signature.

What can you do?

  • Check your bank statements for any debits to any of the companies identified below – if yes, contact the FTC to file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357).
  • Never give out bank information over the telephone to a caller allegedly representing a bank, insurance company or government entity. If you receive a call take their identifying information and disconnect. Call your bank via the number you were given when you opened your account or are can be found on the bank statement (same for credit cards); call the insurance company via the numbers provided when you took out your policy; look up the numbers for the government entity and contact them directly.  Over the telephone it is next to impossible to verify who the caller is, as caller-id’s can be spoofed/faked.
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FTC Identified these companies and individuals:

If any of these companies or names are showing up on your credit card statements or ring a bell, you may have been a victim of these alleged criminals:

First Consumers, LLC, a limited liability company – 222 Jefferson Ave., Downingtown, Pennsylvania — Also doing business as: Patient Assistance Plus, Legal Eye, Fraud Watch and Trust One Service.

Standard American Marketing Inc., a corporation – 801 N. 59th Ave., Apt. 1078, Phoenix, Arizona — Also doing business as Trust One Services

Power Play Industries, LLC, a limited liability company – 4732 West Atlantic Blvd., Ste. 302, Coconut Creek, Florida — Also doing business as Trust One Services

1166519075 Quebec Inc. d/b/a Landshark Holdings Inc., a Canadian corporation – 300 – 181 boul. Hymus, Pointe-Claire (Quebec) H9R5P4, Canada

1164047236 Quebec Inc. d/b/a Madicom Inc., a Canadian corporation – 300 – 181 boul. Hymus, Pointe-Claire (Quebec) H9R5P4, Canada

Ari Tietolman, individually and as an officer and director of the corporate defendants – resident of Quebec – associated with First Consumers, Standard American Marketing, PowerPlay, Landshark, and Madicom.
Marc Ferry, individually and as an officer and director of the corporate defendants – resident of the United States – associated with First Consumers
Charles W. Borie, individually and as an officer and director of the corporate defendants – resident of the United States – associated with Standard American Marketing
Robert Barczai, individually and as an officer and director of the corporate defendants – resident of the United States – associated with PowerPlay

FTC provided complaints and injunctions:

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