Word: boilershop
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PENNY STOCK SWINDLE has resulted in conviction of high-pressure Jersey City Broker Walter Tellier (TIME, May 7). Federal Court jury in Brooklyn found that Tellier and two officers of bankrupt Alaska Telephone Corp. swindled 1,400 investors out of $900,000 by boilershop selling of Alaska debentures. Tellier can get up to five years in penitentiary and $180,000 in fines...
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