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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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BFCSA: Angry Letters from Victims of Lazy ASIC re Sterling Collapse # 7

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Dear Mr Shipton


I cannot and still do not believe that You sat on your Hands (ass) still to this day and have done nothing to publicly explain of your 4 year regulatory negligence in the matter of $26 million missing from us personally knowing what has transpired thru Sterling Life Group.

 I Demand that you return our monies and everyone else involved in this tragic matter.

The Heartache as well as our deteriorating health has been unspeakable.

Our money is gone taken by the Theta the trust managers and was never ever set up and operating instead as a Ponzi scheme.

 We Hold Ray and Ryan Jones fully responsible for this debacle and ASIC for allowing this scheme to continue when they knew there were issues.


We are now being faced with eviction from our home that we have worked all our lives and have spend receipts have been kept over $20,000 on upgrades to the property.


Why were these Directors allowed to carry on with our monies knowing full well we have now found out the Trust was never registered, our monies just disappeared causing us undo stress and affecting both our health etc in finding out all this through the media NOT ASIC.


We can never ever make these moneys up as hard working tax paying Australians we have lost everything and believe me everything. Our 4 Daughters have resorted to propping us up. My 74 year old husband has had to return to work what he receives in the Aged Pension is then deducted from the wages he earns and I don’t receive a full pension till March next year surviving on New Start is a joke in itself. Where do you think we can get any further funds after what has been stolen from Us. Let alone a roof over our head that has had the heart ripped out of it not knowing if we can even stay where we are.


Why did you allow this to happen knowing full well it was flagged 4 years ago?


Please do something so this never ever happens to another person again and have a backbone to change the what has transpired.  Please return pour monies.


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Guest Saturday, 24 October 2020