We investigated the shares sold by various boiler rooms in two North America-based companies, Rocky Mountain Gold Mining Corporation and Rocky Mountain Gold Mining Inc (Rocky Mountain). Boiler rooms are unauthorised, overseas firms who promote and sell shares in the UK that are overpriced, cannot be easily sold on and have little real value.

We found that about £1.25m had been sent to North America where Rocky Mountain's operations were based. Working with Canadian regulators we were able to freeze the funds sent over by investors and help put plans in place to refund about 90% of this amount.

Boiler rooms will usually take your money and disappear without a trace. If you are contacted by one, don't be tempted – just hang up. See Share scams to find our more about boiler rooms and other share scams, and find out what you can do to stay safe at On the phone.

Any customers who bought, or believe they bought shares in either Rocky Mountain God Mining Corporation or Rocky Mountain Gold Mining Inc and sent money directly to Ontario, Canada.

The sale of shares was carried out by companies not authorised by the FSA. This means customers cannot complain to the Financial Ombudsman Service or claim compensation from the Financial Services Compensation Scheme (FSCS).

Although we have tried to contact all affected customers there may be some who we did not have contact details for, or who did not realise they may be entitled to a refund.

If you are one of these customers please Contact us or email peter.wright@fsa.gov.uk.

News articles on this website are accurate, to the best of our knowledge, only at the date of publication. If the information they contain changes, follow-up articles may be published.