Dear Mr.Frydenberg,

In March 2017 my wife and I entered into a 40 year “lease for life’’ with Sterling New Life .Today we are broke , our money having been stripped from us ($135.000)by the directors of this company .

We now endure extreme hardship of emotional turmoil everyday and worry about our financial future .I am on the Pension and my wife ,who is 65 only qualifies for the New start Allowance . To say we struggle is an understatement and without the support financially and emotionally from our children we wouldn’t survive .

Well may you say ‘buyer beware ‘’ but if it wasn’t for the criminal neglect of ASIC in relation to their appalling record of Consumer Protection this would not have happened . We received a phone call from ASIC around the middle of last year asking us questions about how we were pursued by SNL and were we happy with what followed . At that stage we were until we received that phone call and this set about us starting to worry

Several emails and phone  calls followed with Michael Darch  and we were assured everything was okay and that our money was safe , HA ,what a load of bunkem ,we were fobbed off.

ASIC were aware of the cast of characters involved in this scheme for many years but still allowed them to rip pensioners off . ASIC are to blame and have a lot to answer for in the criminal way we and lot of other pensioners have been treated and should be fully reimbursed for the lease outlay and further improvements to the property which SNL were only too happy to let us do at our expense .


Yours Sincerely