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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 to JOSH FRYDENBERG re Sterling Collapse # 16

Posted by on in ROYAL COMMISSION INTO ASIC NEGLIGENCE
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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 towards 'hopefully ' a comfortable and stable retirement. 

I might also add that many of the people are sick and with the added that we are all under is extremely hard at this time of our lives.

To have our investments  stolen is absolutely criminal. 

ASIC has done nothing but still get very well paid just the same.

We want our money back and the criminals concerned- put in Jail! They are thieves and that's what they deserve. 

 

From an extremely concerned  Tenant.

 

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Guest Monday, 16 September 2019