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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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Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

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BFCSA: Angry Letters to JOSH FRYDENBERG re Sterling Collapse # 23

Posted by on in ROYAL COMMISSION INTO ASIC NEGLIGENCE
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Dear Mr Frydenberg

 

We invested all of our savings through SilverLink investments to secure our retirement with a Stirling New Life Lease.

$135.000 plus $11.000 in fees and $13.000 on home improvements: TOTAL $ 158,000

 

Due to the collapse of Stirling  and its allied companies,  we as pensioners aged 77 and 69 years of age are now left with nothing and are facing eviction or paying rent for the property that we have invested everything in.

 

This has happened to us as a direct result of total incompetence by ASIC who had been  aware some years prior and I believe as recently as 2015 and failed to act. 

 

We invested our savings in 2018 !!!

 

How Mr Frydenberg can this negligence be allowed to happen within a Government department that we should be able to rely on to execute their job and protect the public in a timely and efficient manner.

There was nothing from ASIC to make us Buyer Beware, if there had been, we and hundreds of other victims wouldn’t be in this hideous situation.

 

If there is a Government policy of Buyer Beware and ASIC had such dreadful knowledge and information re these crooks, then why did the Government, as a co-citizen, advise us and share with us all of that same information so we could have protected ourselves. 

 

Surely that would have been the minimum thing to do.  We would have warned others if the bridge was broken up ahead and lives would have been ruined.  Decent people would warn others. Why were we not warned?  Who would make up a rule to keep quiet?

 

This incompetence has resulted in ours and many others total ruin and we demand $36 million compensation for all

monies stolen as urgently as possible.  We are all in danger of being evicted and left homeless due to ASIC negligence.

 

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Guest Tuesday, 19 November 2019