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English definition of “boiler room”

boiler room

noun [C]
 
 
(also boiler shop) disapproving FINANCE, STOCK MARKET
a small organization that illegally sells shares of very little or no value. People who work for boiler rooms use dishonest or unpleasant methods to persuade customers to buy shares: Agents infiltrated a so-called "boiler room" where illegal forex contracts were being traded.
(Definition of boiler room from the Cambridge Business English Dictionary © Cambridge University Press)
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