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BFCSA: Angry Letters from Victims of Lazy ASIC re Sterling Collapse # 45

Posted by on in ROYAL COMMISSION INTO ASIC NEGLIGENCE
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28th June 2019

Mr James Shipton

Chairman of Australian Securities & Investments Commission

 

Ref: The Collapse of the STIRLING LIFE GROUP – A failure of the Australian Securities and Investment Commission.

Dear Mr Shipton.

I am writing to you regarding the collapse of the Stirling Life Group. Do you realise the devastation this has caused to my family through the total lack of action displayed by your department in this instance?

I, myself, signed into the Stirling Life Group after an abusive and controlling marriage break down thinking I was now making a secure decision not just for me but for my 3 children. You see I am not a retiree but a 43 year old single mother of 3 teenage children.

Mr Shipton due to your negligence in this situation you have left the future accommodation and security of my family in dire straits. I gave my savings to Sterling Life under the assumption that we would be secure in housing for the next 40 years with our rent paid until then. I share custody of my children and I continue to work part time so as to give my children the life they deserve and spend time with them after school and take them to their sporting commitments. With the fall of Stirling Life it looks like I will have to find full time work to afford rent which also my children will have to forgo their out of school sports with no way of getting there.

As it stands my future is very dim with either moving myself and children into my ex husbands house with his wife or moving in with my elderly parents. Neither is a good option as both are uprooting 3 school age children away from security, friends and further away from their school where they are in the final years of high school.

At the moment I am having trouble sleeping, having extreme migraines, anxiety and not working to my full capacity due to the added stress your negligence has placed on myself and young family. I have no one to turn to for financial aid and am extremely concerned about our future.

Concerned

 

 

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