A colloquial name for a fraudulent brokerage firm that uses high-pressure sales tactics to sell worthless or overpriced securities to unwary investors.
The term 'wallpaper' has dual significance: in finance, it refers to worthless securities like bankrupt stocks and bonds, and in computing, it denotes a picture or graphic used as a desktop background.
Worthless securities are financial instruments that have no value. Ownership of worthless securities typically results in a capital loss for the investor.
