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BFCSA
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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: Christian Porter MP my letters to you so far gone unanswered. ASIC doing bad job.

Posted by on in ROYAL COMMISSION INTO ASIC NEGLIGENCE
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Letter to Porter, Cormann, Di Natale, Katter, Hanson, Lambie  and any one else I think of

 

THE STERLING GROUP COLLAPSE: $28.6 Million Compensation

ROYAL COMMISSION INTO The Australian Securities and Investment Commission

Dear Mr Porter

MY husband and myself are victims of the Sterling Group collapse along with 100 other tenants, landlords and investors. Most of these are in Western Australia but there are others in Victoria and Queensland too. I am appealing to you for your help in securing $28.6 million in compensation for these people who have lost their life savings and potentially face the prospect of being evicted from their homes. Many are in very poor health and the stress of this situation is unbearable.

We did our due diligence before we entered into the Life Lease and nothing seemed amiss. This was where we were going to live peacefully in retirement. Little did we know that ASIC had been notified about irregularities in some of Sterlings products and knew about the dodgy backgrounds of some of the promoters yet they chose to keep this a secret and not warn us unsuspecting retirees. This is lazy, negligent behaviour on the part of ASIC which has had catastrophic results. So, I am also appealing for your help in calling for a Royal Commission into ASIC because they are at present clearly not doing their job as consumer watchdog.

My letters to Mr James Shipton, Mr Josh Frydenberg and Mr Scott Morrison have so far gone unanswered. Do the Government have no compassion or consideration for us? We are a group under the leadership of Denise Brailey, a dedicated consumer advocate, and we will not give up; we will not go away.

Please do whatever you can to help bring satisfaction to these devastated individuals.

 D P

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Guest Monday, 14 October 2019