A money laundering technique 

Thailand and Philippines-based "boiler rooms" laundered cash worth hundreds of millions of US dollars through Hong Kong's banking system over the past decade, according to incriminating documents released online by aggrieved investors now angling for financial settlements with boiler room kingpins - and the banks that helped them.

"The magnitude and scale of cash moving through the accounts is at a level where banks have highly likely violated money laundering regulations," said John, a senior representative of investor network Fraud Recovery Group (FRG), preferring a pseudonym after several FRG members were physically threatened.

Between 4,000 and 10,000 mostly American and European investors lost several hundred million US dollars since 2004, according to research by FRG and a private investigation firm.

 Hong Kong banks caught up in 'boiler room' money laundering schemes