Warning
February 2012
Boiler Room Scam Warning
We would like to warn shareholders in Spark Ventures plc that there have been several reports of Spark shareholders being targeted by fraudsters operating so-called boiler room scams.
Please all be on your guard – particularly in the case of unsolicited telephone calls offering to buy or sell shares.
Please note, Spark Ventures plc does not make unsolicited offers to buy or sell shares over the telephone. Any such calls you may receive are likely to be fraudulent.
The Scam
We are aware of at least two variants of this scam:
1. A caller offers to buy your shares for a price much higher than their current market
value. The catch is that you are asked to make an upfront deposit or other payment
which is said to be returnable if the deal does not go ahead. You are unlikely to see
the money again.
2. A caller claims to be representing a company in which you have previously invested, and
offers you a bargain special offer on shares in another company. In many cases they
turn out to be shares in companies with little or no value, which prove difficult or
impossible to re-sell and which will almost certainly lose you money.
Please note Spark Ventures will not pass your personal information or contact details on to a third party without advising you first and then only with your permission. Unless you have requested us to do so, we will never contact you by telephone.
Fraudsters typically obtain the details of shareholders from a company's register of shareholders which has to be made public under the UK Companies Act. While the register of shareholders does not include home telephone numbers, fraudsters typically obtain these from lists available over the Internet.
More information on share scams and how to protect yourself from them are available from the UK’s Consumer Financial Education Body, established by the Financial Services Authority.