Dear Mr FRYDENBERG

THE FEDERAL TREASURER

"I am writing to you regarding the $272,000 that was criminally taken from me by the STERLING GROUP, along with 200 other Australians pensioners and retirees, to a total of $36 million.  I am advised that you give a budget to ASIC OF $450 million a year to ASIC who is supposed to be the consumer protection regulator.

 

We have written to Mr Shipton with disgust over his handling of the regulating of Sterling Group.  Shipton knew from "past performance" these people were not to be trusted but he still gave them the "green light" to come back with this latest scam and take money from all of our life savings.  You had meeting with this man Mr Shipton, so did he lie to you like he did us?

 

My wife and I, both in our eighties. I am 83 and my wife 82, and not in the best of health.  We sent into the Sterling Group plan because they promised it was security for us.  We had a 40 year lease. He said we could have our money back at any time.  Its was to us, our security.  We were never told they could sell the house to another Landlord, which they did and now the new owners are threatening if we do not sign lease contract and pay thee rent owing.  We cannot pay the rent and our money ahs been stolen by STERLING.  We have no other funds but pensions.  We paid every penny we had: $272,000 in advance.

 

You can help us AND HAVE THE MONEY TO PAY $36 MILLION.  We have Denise Brailey as our champion fighting for us.

 

PS If Ms Brailey had been in charge of ASIC this would never have happened, never have gone this far.  She would have been on the ball right away.

 

Names withheld