Boiler room (business) protection. A fictional "boiler room" brokerage firm was dramatized in the 2000 film "Boiler Room", and the play and film "Glengarry Glen Ross" show a similar boiler room operation selling real estate. The 2013 film "The Wolf of Wall Street", starring Leonardo DiCaprio, also involves a boiler-room investment business and is based on the memoir of convicted penny stock fraudster, Jordan Belfort. A 2010 episode of the television series "White Collar" depicted fictional conman Neal Caffrey infiltrating a group of corrupt brokers also peddling inflated penny stocks. Boiler room (business) In business, the term boiler room refers to an outbound
Boiler room (business) Boiler room (business) In business, the term boiler room refers to an outbound call center selling questionable investments by telephone. It typically refers to a room where salesmen work using unfair, dishonest sales tactics, sometimes selling penny stocks, private placements or committing outright stock fraud. The term carries a negative connotation, and is often used to imply high-pressure sales tactics and, sometimes, poor working conditions. The classic image of a boiler room is that it has an undisclosed relationship with the companies it promotes, or an undisclosed profit motive for promoting those companies. Once the insider investors are in place,