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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

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Denise

Denise

Denise Brailey has dedicated the past 20 years of her life to being a Consumer Advocate - a voice for the people and former President of RECA (Real Estate Consumer Association. She has helped thousands of investors and is currently President of the BFCSA (Banking & Finance Consumers Support Association). Denise was also awarded and presented with the Rona Oakley Award for Consumer Protection in 2010.
Carli Idziak Sales & Marketing Executive at Sterling First Limited Location: 19 Lyall St., South Perth, WA 6151, Secret Harbour, Western Australia, Australia Company: Sterling First Limited HQ Phone: +61 8 6102 7265 ...
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Cricketer entertains crowd   Emily AceSouth Western Times Thursday, 11 October 2018 2:13PM Legendary former Australian cricketer Mitchell Johnson visited Bunbury for the first time recently, to attend Rental Management Australia’s sundowner event at Vat 2. Johnson is an ambassador for RMA, as his investment property is managed by the company. “I don’t like to promote things just for the sake of it, it’s more because I have an interest and I believe in something,” he said. “These events are really good because they can be smaller crowds but it is very personal as well. “I can get around and speak to everyone and it gives a bit more of an insight into what I am about and what I do. “I feel like I am just a normal guy, I have just had a different career path to a lot of other people.” Johnson said Bunbury had reminded him...
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Dear Mr. Frydenberg,  I am going to fight this injustice until the end and will not be going away at all.  I am writing this letter in regard to The Collapse of the STERLING LIFE GROUP as “ A Failure of the Australian Securities and Investment Commission. Back in April 2015 my wife and I were invited to look into this wonderful scheme to be able to live rent free yes RENT FREE not an investment. So after getting other opinions we decided it was for us. We proceeded to sell Sterling trust our family home for $370k invest the amount $250k with Stirling let the investment money grow for our children whilst we lived in the house for a period of 20  years without worrying freeing up some pension for us and my boys would get the money at the end perfect fit for everyone  But ASIC knew of the likelihood...
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Mr. James Shipton Chairman of Australian Securities and Investment Commission Level 7/ 120 Collins Street,   Melbourne VIC 3000.   Dear Mr. Shipton,   RE:- Collapse of Sterling First Group of companies. My wife and I are one of the several investors nationally who have put our trust and hard earned cash from our Superannuation fund as an investment into the Sterling First group. We have worked very hard over the last 47 years and paid our taxes. We have never put out our hands for any Government assistance while transitioning jobs. There has been many sacrifices and hardship along the way as we worked very hard to put away sufficient funds into our Superannuation for retirement.  Our true belief was not to be dependent on the Government resources which should rightfully be allocated to people in hardship and real need. Our intentions have been good and honourable, but others saw us...
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5th July 2019   Att. Mr. Frydenberg.   Subject   Sterling Collapse   Dear Mr. Frydenberg   You don’t know me and I don’t know you, but I am hoping I am writing to an honest man. As treasurer of this country you are charged with caring for the financial wellbeing of its citizens.   As a citizen of 38yrs, and a retired businesswoman I would expect you to do the right thing by the people who have worked all their lives, paid their taxes, and tried to do the right thing by their fellow Australians.   I am feeling used and abused by people who were charged with looking after its citizen’s financial security.    I am very angry at the way myself and my fellow citizens have been brushed aside because a very well-paid government body re. ASIC have been negligent in their duties.   I won’t bore you with...
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Dear Mr Frydenberg   We invested all of our savings through SilverLink investments to secure our retirement with a Stirling New Life Lease. $135.000 plus $11.000 in fees and $13.000 on home improvements: TOTAL $ 158,000   Due to the collapse of Stirling  and its allied companies,  we as pensioners aged 77 and 69 years of age are now left with nothing and are facing eviction or paying rent for the property that we have invested everything in.   This has happened to us as a direct result of total incompetence by ASIC who had been  aware some years prior and I believe as recently as 2015 and failed to act.    We invested our savings in 2018 !!!   How Mr Frydenberg can this negligence be allowed to happen within a Government department that we should be able to rely on to execute their job and protect the public in...
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Hon. Josh Frydenberg MP Federal Treasurer P O Box 6022 House of Representatives:  Parliament House CANBERRA  ACT  2600   Collapse of Sterling New Life - ASIC CRIMINAL NEGLIGENCE - $36 million losses.   Dear Mr Frydenberg    By now you are no doubt aware of the mess that is the collapse of Sterling First (and all related entities) and the uncovering of the criminal negligence of ASIC, which has put hundreds of Australian retirees on the streets, stolen from investors, and left investment property owners with broke, elderly tenants.   The damages from all known victims that have come forward so far is at $36 million and counting. ASIC was well and truly aware of the problem with Sterling First no later than 2015 (evidence suggests earlier) and still did nothing to stop the company from preying on this country’s elderly. This goes way beyond negligence. At best this is criminal. ASIC are as good as complicit...
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The Federal Treasurer The Hon. Josh Frydenberg MP. PO Box 6022 Canberra A.C.T. 2600     Dear Sir,                Because of the incompetence of ASIC my wife and I have lost $240000.00. We entered into a life long lease with Sterling New Life to secure a roof over our heads for the remainder of our life. We did our due diligence, and received advice that our money was secure and in a trust account. We have found out since, that ASIC had been investigating Sterling since 2015 and maybe earlier, and all the assurances given by Sterling were lies. Why was ASIC silent on this matter, as they were given plenty of warnings that something was wrong? Mr Treasurer ASIC is a Joke, and we demand compensation for their incompetence. If ASIC had done their job and shut down Sterling when they knew there was a problem, none of this would...
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Dear Mr Shipton, Australian Securities and Investment Commission  I’m sure you’ve received the letters from Denise Brailey, Re - The Collapse of the STERLING LIFE GROUP – A Failure of the Australian Securities and Investment Commission. It is important for us individuals that were highly affected by this, to also share with you the dramatic and life changing effects that this has had on each of us, who entered into these Financial Companies in good faith and believing it was a sound and growing investment.  The catastrohic effects on me and my family have been unbearable.  Firstly, this investment I made came from money borrowed from my family and their retirement fund. So the guilt, shame and embarrassment I have experienced with this long duration fiasco has been too stressful for words.  The loss of my retirement fund of over $100,000 has created scarring emotional pain and fears for my future...
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Hon Josh Frydenberg MP House of Representatives, Parliament House, Canberra, ACT, 2600    Re: Sterling New Life FIASCO     Dear Mr Frydenberg I’m writing to you in reference to the misleading and unlawful processes of the Directors of Sterling New Life.   As a retiree, I invested my life savings totalling $360,000 with this group under the premise of obtaining a lifetime lease on residential property in WA.  I commenced my lease arrangement in February 2017 with the intention to remain in the property for my remaining years, thereby achieving the level of financial security that allowed me to enjoy these years with my family and grandchildren.  This goal has now been ruined by the activities of this group and the ignorance of the Federal Government. Following the collapse of Sterling New Life and now left in financial ruin with nowhere to live, I am aware that ASIC were monitoring...
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Dear Mr.Frydenberg, In March 2017 my wife and I entered into a 40 year “lease for life’’ with Sterling New Life .Today we are broke , our money having been stripped from us ($135.000)by the directors of this company . We now endure extreme hardship of emotional turmoil everyday and worry about our financial future .I am on the Pension and my wife ,who is 65 only qualifies for the New start Allowance . To say we struggle is an understatement and without the support financially and emotionally from our children we wouldn’t survive . Well may you say ‘buyer beware ‘’ but if it wasn’t for the criminal neglect of ASIC in relation to their appalling record of Consumer Protection this would not have happened . We received a phone call from ASIC around the middle of last year asking us questions about how we were pursued by SNL and...
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The Federal Treasurer   3 July 2019 Hon. Josh Frydenberg MP Po. 8ox  6022. Canberra. ACT 2600.   Dear Sir,   You are undoubtedly aware of Sterling Group FIASCO which has claimed my wife and I as a victim. We have lost all our savings and are now at the mercy of our landlord. In 2018 we purchased a new life lifelong tenancy to secure our housing needs for the rest of our life. WE did our due diligence, searched for press reports and went into the ASIC website but found nothing untoward. We have since learned ASIC had been investigating Sterling since 2015 or earlier, they also investigated them 2010-2018 and did nothing to warn the general public. ASIC also told retirees who contacted them that their money was safe and they had nothing to worry about, as it was in a trust account. ASiC iS A SIC JOKE. White collar crooks laugh...
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Letter to the Treasurer Frydenberg  Dear Sir, This letter is written in the believe that we still have enough intelligent leaders, who will accept that we have the right to form an opinion and the freedom to express couch an opinion. I understand that those are our rights, given to us in the United Nations Basic human rights declaration and The Constitution of this country.  The information that this Country is a on top of the list in White collar crime is very sad and is the best explanation why we the retired people are losing our rights,  our property,  our money and our chances to spend the rest of our life in safe and peaceful environment that we in our Working lives provided for our parents and grandparents.  Sadly Mr Frydenberg I must inform you that coming from other countries gave me the base of comparison and this in combination with this...
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My letter to Josh Frydenberg   I too am a victim of the Sterling debacle,  having put our savings as an investment in the company.  Both my Husband and myself signed up and moved into our house in January 2018 - not knowing that SIT were already in trouble. We were assured that we invested in a forty year lease and would be secure in our retirement. My Husband was diagnosed with Cancer in November 2018 and had since passed away in April this year.  I was then faced with the collapse of SIT and horrified to know that all our investment had gone - disappeared!! I am now existing on a single pension,  not knowing what the future holds for me. So many of us have been hit by this shocking and devastating predicament that we have been forced into. The majority of us are pensioners and have worked hard...
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The Federal Treasurer                                                                                                    Hon. Josh Frydenberg MP                                                                                            Po Box 6022,                                                                                                                     HOUSE OF REPRESENTATIVES                                                                                                     PARLIAMENT HOUSE                                                                                                      CANBERRA ACT 2600                                                                                                        Dear Mr. Frydenberg,   RE:          URGENT COMPENSATION FOR VICTIMS OF STERLING FIRST GROUP COLLAPSE                 WHITE COLLAR CRIME – NO PROTECTION   In 2016 I invested all I could borrow against my almost fully paid off house in Sterling First – I did my due diligence and went through all of the provided documents. Their Information Memorandum stated that company was expanding rapidly, was innovative, with promising future, with a great cause of providing...
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Dear Mr Frydenberg   Sterling Life Group Collapse and Criminal Negligence by the Australian Securities and investment Commission   I am writing to you to express my anger, disappointment pain and suffering that has been brought about by the collapse of the Sterling Group and the abysmal failure of ASIC to protect consumers and their hard-earned assets.   My husband and I paid for a 40-year Sterling New Life lease in October 2017 expecting to see out our remaining years in a very secure unit in Mandurah. We thought that this money was placed in a trust but now it appears that it was more of a Ponzi scheme. We also invested $75,000 in units in late 2018 which were supposedly going to be listed on the ASX within weeks. This never happened and again Ponzi scheme springs to mind. We have worked hard all our lives and just wanted to...
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 4th July 2019 The Federal Treasurer Hon. Josh Frydenberg MP P O Box 6022 House of Representatives: Parliament House Canberra ACT 2600     Dear Mr Frydenberg,   I am writing to you asking for your help. I am one of the 800 victims suffering loss by the COLLAPSE OF THE STERLING GROUP.   I am a 70 yr old pensioner, who invested the last of my superannuation ($4000) in shares of Sterling Group. 18 months ago, I had to return to part time work to make ends meet. March of this year I was in financial difficulties and contacted Brian Ruzich at Stirling Income Trust told him of my difficulties and said I needed to take my investment out. Mr Ruzich told me I would be better off to wait as the company was going on the share market in May. Regrettably I followed his advice and in May was informed...
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Dear Mr Frydenberg.                                                                                                                                    4/7/2019 I have never done anything criminal, but I am sure if I stole money I would be picked up by the police and face court. This  situation is far beyond that , but how can these criminals from the Sterling Group be free to keep swindling  honest citizens out of their money? Worse still is ASIC, as crooked as the crooks themselves resulting in the elderly being robbed of their  homes ,their savings and  security, just when they need it most. I implore you as Treasurer to instigate immediate relief to all tenants, and bring relief, by ordering ASIC to pay back all monies due to these people. That is only part of it, our wounds are deep and will not heal. That is the legacy we will carry now, from these gutless, greedy, low life operators at Sterling, and also ASIC who literally stood by for...
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The Federal Treasurer Hon. Josh Frydenberg MP PO Box 6022 House of Representatives: Parliament House  Canberra ACT 2600                                      “Stirling Long Life Lease “   Dear Mr Frydenberg, We are writing to you about our devastation of the collapse of Stirling Income Trust and our loss of lifetime savings amounting to $220,000,we are both 80 years old and are reliant on our Pension which are not keeping up with the cost of living so that’s a double whammy. This situation Is absolutely disgusting and could have been avoided If ASIC had stepped In Four years ago when they knew what Stirling were up to, Its criminal that they have swept It under the carpet and let them continue with their Ponzi scheme especially when It not the first time these Directors have been Involved In similar businesses ASIC didn’t see the red flags with the goings on especially after Investigating them for at...
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Dear mr frydenberg    How can this happen I have lost everything my life’s savings working hard all my life   I cannot believe you and your government can let asic create a major problem    Surely you have meetings once a month asic has destroyed so many lives mostly retirees    I hope this will never happen to your parents as the stress would be far to great to comprehend   Be a man  and sort this major problem out created by asic pay us compensation  before some of these retirees  Are hospitalised and possibly die there are two that are terminally sick if not I think you should resign as treasure  There are over 800 people affected by this scam that asic new about if you do not take the bull by the horns and  Sort this problem out the government has created you will always be a weak man...
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ASIC DISGUST - STERLING GROUP COMPENSATION DEMAND Dear Mr. Frydenberg   I am writing this letter in support of my mother whom has been a targeted victim by a gang of white collar devious criminals otherwise known as Sterling Group.  My mother has been an hardworking tax paying citizen for most part of 40+ years and now a retired pensioner.  The collapse of the Sterling Group has caused an enormous amount of stress, heartache and suffering for my mother and our family.  It is devastating as a son to see your mother on the brink of collapse.  I have asking the Australian Government to fully compensate the victims of the Sterling Group Collapse.   No-one would be asking for compensation if ASIC had closed down the PONZI STRUCTURE business model in 2001 and stopped These characters setting up again in 2007 and the STERLING in2015  What the heck happened to the, "BUYER...
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  4th June, 2019   The Federal Treasurer   Hon. Josh Frydenberg MP P.O. Box 6022 House of Representatives,: Parliament House Canberra ACT 2600   Dear Mr Frydenberg   Collapse of Sterling New Life - ASIC CRIMINAL NEGLIGENCE   It is with distress that we right to inform you of how we lost $280,000 in 7 short months ASIC who were supposed to be protecting us from White Collar Criminals has let us down.   In September, 2018 we bought a life lease through Sterling New Life. This was part of our financial plan for retirement. It was supposed to give us a roof over our heads for the next 40 years. ASIC was investigating the company in June, 2018, but they did not warn the older Australian about investing in this company. It was not to be a get rich quick scheme but one  which was supposed to look after...
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4th July 2019    Hon Josh Frydenberg MP P.O. Box 6022House of Representatives Parliament House Canberra ACT 2600   Re: The collapse of the Sterling Life Group by inaction of ASIC.   Dear Mr Frydenberg   My wife and I are one of the now hundreds of people that have lost their life savings and the security we had having a roof over our heads for the rest of our lives. Why because Mr Shipton and his staff at ASIC could not be bothered to send out a warning about Sterling New Life Group.   We joined the Sterling Life Group on the 26th July 2017 this is months and probably years after ASIC knew there were problems with this group. If the Chairman of ASIC had issued warnings about this group, we and others would not be in this situation now. This is gross neglect of his duties by not...
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  IS THE FEDERAL MORRISON GOVERNMENT ON THE TAKE?  Part of the ASIC Corruption? How can the money be "deemed to be there" WHEN $255,000 has been stolen from this frightened TRAUMATISED lady in her sixties?   She needs sensible and compassionate assistance.  I remember sending a short note to Amanda Vanstone in 1998 on the same subject. Vanstone fixed the problem in 24 hours If you have not been properly briefed, on the STERLING COLLAPSE, then I suggest you call me Mr Roberts.  I can easily fill you in. 0401 642 344  ASIC is to blame for this crisis.  We need you to FIX THIS. We need an urgent remedy for 800 retiree victims who have been told ten days ago $36 million has been stolen.  ASIC is condoning the LEASE for LIFE scandal affecting people in three states....   HERE IS THE DUMB CENTRELINK RESPONSE :  In effect Ms XXX has purchased...
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4th July 2019 The Federal Treasurer Hon Josh Frydenberg MP PO Box 6022 House of Representatives Parliament House Canberra ACT 2600 Dear Mr Frydenberg, RE Collapse of the Sterling Group Prior to the last Federal election, you and your colleagues regaled us with the mantra that “if we had a go, we’d get a go”. Now is the chance, Mr Frydenberg, to prove that these were not just empty words. Over one hundred couples have had their life savings stolen (and I use that word deliberately) and will probably lose the roof over their head because of the negligence of ASIC to do anything to avert the losses that they were well aware  were likely to occur due to the malfeasance of the directors of the Sterling Group of companies. The fact that ASIC were alerted to possible corporate mis-governance four years ago and were conducting an investigation into the companies...
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