Boiler Room

A "boiler room" refers to a fraudulent operation, typically involving high-pressure sales tactics over the phone, aimed at selling dubious investment opportunities, stocks, or securities. These schemes often promise high returns with little risk to entice victims. The name comes from the original practice of running such operations in cramped, steamy offices, akin to a boiler room. The goal is to deceive unsuspecting individuals into investing their money based on misleading information. Victims may end up losing their investments, making it a significant issue in financial fraud.