By Jeremy woods

Its is known as a boiler room scam I now have found out it is a HUGE worldwide scam mainly involving expatriates, some who have lost 500.000 USD in a similar situation that I lost my 8000 SGD. The scam involves cold calling people from "The Peterson. G" who profess to be genuine shares traders targeting expats on higher incomes, selling "shares" that turn out to be non existent, I have details on hundreds of people caught up in this scam, some from Singapore and lots from Asia region. These crooks operate out of Jakarta and Philippines, mainly English and american cold callers ...very persuasive and unless you do really good research hard to spot they are fakes, the websites look professional for both the Peterson.G, and the shares from the so called company you have bought into, but in fact they are all fake and the shares certificates are worth absolutely nothing. These scams need to be investigated and closed down ASAP as they are fooling and ripping more and more people off every day, I have phone recordings of these scum bags whom I have been dealing with, I understand the group I am part of who have been ripped off are engaged with Interpol and other law enforcement agencies, however our numbers in terms of people stolen from are growing by the month!! These criminals are still active today, I would like a warning to be made very public so as to STOP these people, who have stolen literally millions of dollars of peoples life savings in some cases, I even know of people who have committed suicide once they realize they have been scammed!! Please make this warning public.

Source: Scam Alert Singapore