GLOBAL SUB-PRIME CRISIS

BANKILEAKS

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 

BFCSA
MORTGAGE
DISTRESS SOS

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.

Visitors

Articles View Hits
630713

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: Dear Mr Albanese Sterling people need urgent Qs raised to The Treasurer.

Posted by on in ROYAL COMMISSION INTO ASIC NEGLIGENCE
  • Font size: Larger Smaller
  • Hits: 187
  • 2 Comments
  • Print

2nd September 2019

 

Leader of the Opposition

 

and Shadow Ministers:   Hon Dr Jim Chalmers MP & Hon Bill Shorten MP

Dear Mr Albanese,

 

I am writing to you in desperate need of your help for all the victims of the Sterling Group collapse with my mum being one of them.   She has become a victim of a crime, so called PONZI scheme and has lost $244,000 of her life savings and will potentially become homeless if this issue is not resolved quickly.  We are appealing to you in the hope that you can raise this matter in the Lower House ASAP, by way of a Matter of Public Importance and Senate Inquiry.

 

My mother is a 79 year old self-funded retiree who immigrated 15 years ago to join their children and call it their home for the rest of their life.  After the death of my father in 2015, and her ageing years, last year my mother had to make the decision to downsize and she invested her money with Sterling New Life in October 2018.

 

We were not naive in looking at Sterling New Life (SNL) and their ‘Lease for Life’ product as we did all the necessary steps in getting independent legal & financial advice, researched the company on the ASIC register and ‘companies you should not deal with’ list, but saw no warning published for Sterling Life Group and were constantly being reassured by the salesmen that her investment was safe and secured.  Little did we know that SNL were under ASIC investigation for some time, if we had known this, we wouldn’t have handed over her money?

 

We have already wrote many letters to Mr James Shipton, Mr Josh Frydenberg & Mr Scott Morrison, but have only received pass the buck replies and tough luck responses.  NOT ONE of them will take responsibility for this state of affairs that is a FEDERAL MATTER and these types of crimes does nothing for the Australian economy and erodes any confidence in the so called regulators.

 

The questions that need to be asked of the current Treasurer and Assistant Treasurer are:

 

  1. Why is the Treasurer stating the Sterling Affair is a state matter when clearly this is a Federal matter into the long list of breaches of the Corporations Act?

 

  1. Why is the Treasurer suggesting victims of Sterling write to the Commonwealth Ombudsman knowing full well that is a devious ASIC TRICK?  The same Question relating to sending victims to AFCA that are controlled by the Banks and hand out known dubious outcomes?

 

  1. Why did the assistant Treasurer Michael Sukkar announce on 6PR 21st June 2019, he had ordered ASIC conduct an internal investigation into the mishandling of its investigations into the Sterling affair? Then why admit 6 weeks later no such internal investigation had taken place?

 

  1. Why has the Prime Minister not responded to the 200 letters and not publicly commented on his intentions re the urgent payment demands to cover $28.6 million in losses suffered by elderly people and rescuing them from probable - homelessness?   

 

  1. ASIC Negligence over 2011 - 2019:  this has resulted in devastating consequences to sterling victims.

 

  1. Why has the Treasurer not order a Royal Commission into the Australian Securities and Investment Commission over the regulator’s stated (by Mr Sukkar) mishandling of the Sterling Affair?

 

  1. Why is the Treasurer tolerating ASIC’s untruths of what it KNEW and when, and also tolerating ASIC’s pathetic attempts to pass blame onto the State of Western Australia, when WA was the first to notify ASIC of its own obligations under Corp Law in 2015?

 

This matter is critical and urgent, and I appeal to you to help all these hard working retirees that are in desperate need of assistance for immediate and compassionate relief.

 

Yours sincerely,

JC 

Last modified on
Rate this blog entry:

Comments

  • Guest
    Diane Tuesday, 03 September 2019

    Mrs

    Why is the Government and the opposition continually giving the banks a free pass to rob the Australian people, we had a very watered down Banking Royal Commission, no consequences for the criminal bankers, no jail, no real compensation paid, culture hasn’t changed, so we will all be back in 2-4 years as Prof Allan Fels predicts seeking another RC, when are the politicians going to be for the Australian people, not just these criminal elitist bankers. And the PM saying if you have a go you will get a fair go” is just more BS and pollie stupid spin. They only people that get a fair go are the corporates, bankers, and the ruling elites.

  • Denise
    Denise Saturday, 14 September 2019

    Yes BANK ROYAL COMMISSION # 2 is essential. We need very Australian to sack the Morrison Government at the next election.
    There is NO FAIR GO at the moment.
    LNP became the Bankers Party 20 years ago.

Leave your comment

Guest Monday, 16 September 2019