Definition, Meaning & Synonyms
boiler-room
noun
/ˈbɔɪ.lər ruːm/
Definition
A boiler room is an environment where high-pressure sales tactics are used to sell financial products to unsuspecting investors.
Examples
- The company’s tactics were discovered to be operating out of a boiler room.
- Investors were scammed by a boiler room operation that promised high returns.
- After the investigation, many boiler-room operations were shut down for illegal practices.
Meaning
It refers to a setup where salespeople make cold calls to potential investors, often using deceptive or fraudulent methods to sell them investments, typically in stocks.
Synonyms
- fraudulent operation
- investment scam
- high-pressure sales room
