Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook

facebook3           facebook2 


What BFCSA Does...

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.


Articles View Hits

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

Denise Brailey

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.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form

BFCSA: Basis Yield Alpha take on Goldman Sachs: Wall Street FRAUD selling JUNK Mortgage Securities

Posted by on in BANKSTERS
  • Font size: Larger Smaller
  • Hits: 1782
  • Print

Court dismisses Goldman Sachs hedge fund appeal

CLANCY YEATES January 31, 2014   SMH

An Australian hedge fund that lost $US67 million when it bought toxic mortgages from Goldman Sachs is a step closer to having its day in court against the investment bank, after a New York court quashed Goldman’s attempt to have the case thrown out.

In a case launched in 2010, Basis Yield Alpha Fund is claiming the Wall Street giant engaged in fraud when it sold sub-prime securities it knew were junk in 2007, and then bet against the assets when the global financial crisis hit.

Goldman had appealed for the case to be put into arbitration, and for the fraud allegations against the bank to be dismissed.

But overnight, five judges from a state appeals court upheld a previous ruling, rejecting Goldman’s argument that disclosures it made to Basis could shield it from potential liability.

The decision sets the scene for a likely jury trial in the United States, which is expected to include out-of-court testimony from Australian staff of Goldman.

Basis is seeking $US1 billion in damages from the Wall Street giant, which the hedge fund claims misled investors in order to reduce its exposure to sub-prime debt.


Last modified on
Rate this blog entry:


  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Monday, 25 January 2021