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BFCSA: Angry Letters from Victims of Lazy ASIC re Sterling Collapse # 30

Posted by on in ROYAL COMMISSION INTO ASIC NEGLIGENCE
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Chairman of Australian Securities & Investments Commission

120 Collins Street

MELBOURNE   VICTORIA   3000

 

Dear Mr Shipton

 

Re.: Collapse of the Sterling Life Group

 

My mother came to this country in 1975, learned the language and in 6 months was working in her profession.

She worked hard all of her life to bring us up and provide the best opportunities this country has to offer.

She made sure we loved and respected the Australian way of life, that we were honest, hard-working, law abiding individuals.

She has sacrificed much throughout her life here, and most certainly deserves much better than to be robbed of her hard earned money for retirement by unscrupulous individuals, as well as the house which was supposed to be her home until her death.

 

 

This, Sir, is NOT the Australian way!

It is shameful that your staff, who were aware of the company/ies unsafe, to say the least, processes failed to make aware the 100+ retirees/ pensioners who, like my mother, sank all the money they had to have a peaceful and reasonable rest of their life.

 

I most certainly expect ASIC to do the right thing and process their demand for Compensation from the company you direct, of $26 million within 8 weeks to happen speedily, as each day the stress and anguish, especially of their unknown future living arrangements, is most detrimental to their health and well-being.

 

 

Looking forward to your prompt action

 

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Guest Monday, 16 September 2019