Dear Victim of Sterling First Ponzi Structure

 

Thank you for your correspondence 3 August 2019, originally directed to the Prime Minister concerning your investment in the Sterling First group of companies.  Your correspondence has been referred to the Minister for Housing and and Assistant Treasurer and he has asked me to respond to you.

 I REGRET that I am unable to provide further assistance to that contained in my letter to you of 2nd August 2019. In relation to your query about the return of Investment Funds, I conform my previous advice to you about contacting liquidators in the first instance.   For advice on Tenancy matters, you may also wish to contact the Consumer Protection division of the Western Australian Government Department of Mines, Industry Regulation and Safety.

The Australian Securities and Investment Commission (ASIC) continues to update Sterling First investors via a dedicated page on its website, www.asic.gov.au.  In addition, if you are dissatisfied with ASIC" regulatory response to this matter (which you will be) , I reiterate that you may wish to consider making a complaint to the Commonwealth Ombudsman.

Finally, you have raised concerns that you did not receive a personal response from the Prime Minister to your previous letters.  As a matter of Government practice, letters are referred to Ministers to ensure correspondents receive accurate and consistent responses.

Once again, thank you for taking the time to write.

Yours sincerely

Katie O'Rourke

Principal Adviser

Consumer and Corporate Policy Division

Canberra