Cold calling
Cold calling is unsolicited contact with prospective investors. It is regulated rather than prohibited, and it is the traditional delivery mechanism for boiler-room fraud.
Where does cold calling come up?
This term is used in the following manipulation techniques, each explained in full on its own page.
Enforcement actions involving these techniques
| Action | Agency | Filed | Technique | Penalty | Status |
|---|---|---|---|---|---|
| SEC v. Andrew Spaventa and others (boiler rooms, 2026) | SEC | 2026-08-17 | Boiler Rooms | — | filed |
| SEC v. Timothy Page, Trevor Page and others (boiler rooms, 2024) | SEC | 2024-11-20 | Boiler Rooms , Undisclosed Control Blocks | $7.7m | judgment |
| SEC v. Mario Gogliormella, Steven Lacaj, and Karim Ibrahim a/k/a/ Chris Hayes (boiler rooms, 2024) | SEC | 2024-06-12 | Boiler Rooms | — | filed |
| SEC v. Legend Venture Partners LLC (boiler rooms, 2023) | SEC | 2023-07-11 | Boiler Rooms | — | filed |
| SEC v. Vuuzle Media Corp., Vuuzle Media Corp. Limited, Ronald Shane Flynn, and Richard Marchitto (boiler rooms, 2023) | SEC | 2023-06-27 | Boiler Rooms | $25.8m | judgment |