What does boiler room mean?

boiler room meaning in Legal Dictionary

n. a telephone bank procedure in which fast-talking telemarketers or campaigners make an effort to offer stock, solutions, products, or prospects and act as if they're calling from an established business or brokerage. The telemarketers tend to be completely deceptive as well as in breach of security rules.

boiler room meaning in Law Dictionary

When a salesperson uses difficult selling to sell niave functions over the telephone. They often times lie to the people they speak with.

boiler room meaning in Business Dictionary

Outfit in which salespeople make use of hard-selling (frequently dishonest) techniques to peddle (often fraudulent) offers to naive leads (named suckers) on the phones.