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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: It is obvious ASIC are lame ducks in the worlds of fraud... including fuel distribution

Posted by on in Australian Securities & Investment Commission
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Comment by NABbed Nanna Saturday, 22 March 2014 ·                          

It is obvious ASIC are lame ducks in the worlds of fraud. In 2004 we owned a petrol station. At that time you could get a replacement fuel for the old Super petrol which was used in older cars. Unbeknown to us our fuel supplier distributor was just providing ULP unleaded fuel into our storage tanks. It was supposed to be the replacement fuel.

I had an irate customer come back after purchasing this fuel and threaten to wrap his chainsaw around my ears because it had blown up (his words). He intimated or rather stated our fuel was no good.

That incidence led us to have the fuel tested which showed the fuel to be ULP. Several other incidents occurred including Ski boat engines spluttering and overheating during the period we were unaware.

I phoned ASIC in regards to the fraud. ASIC were very enthusiastic initially and sounded like they meant business. ASIC indicated "If this was happening to your petrol station, How many more were being subjected to the same deal?" Nothing ever happened and I mean nothing at all.

This fraud by the fuel distributor could have had dire consequences for us if the customers had been injured or the engines were extensively damaged, for we would have been held responsible and no doubt sued. The supplier distributor continued on his merry way with no repercussions. Although this is a small incident and complaint, I would have thought it was worth investigating. No so!!!!

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  • doyla66
    doyla66 Monday, 24 March 2014

    Everything these days is a fraud or a scam and we have been blindly living in a world where I am starting to think it is now legal to be be a criminal or fraudster or a bankster or wankster or a regulator in disguise or whatever one cares to call them. How has it come to this when they supposed to be the very pillars of our society have hollow legs and they supposed to be on watch to uphold the law and prevent such goings on these days do nothing more than turn a blind eye? Makes you want to head for the hills but even that is a huge risk for you might end up surrounded by sinkholes or go crazy with the silent drone of windmills!

  • doyla66
    doyla66 Tuesday, 25 March 2014

    Our "beloved" neighbours the thugs and bullies who purchased our home and are now residing next to our leased property just keep helping themselves to bits and pieces on our property. Never to be seen again items. For some reason they appear NOT to want us seeing what is going on on their property, so by intimidating and bullying us hoping we will give up our leased property. Their calves are wandering around on our land, I feel sorry for them as they are in poor condition. These neighbours have been erecting a fence for over 3 months now to keep the calves in tow on their property. There is s..t everywhere. Our small dam is filled with rubbish from these charmers, all sorts of goodies have been dumped. I cannot and do not understand these type of people. What is the go with them.? What is their mentality.? What kind of lives have they lived? I do not call them normal as I understand normal to be. They have no morals and a total disregard for the law. What makes them tick and why bully us? We will just have to keep an eye on them because somewhere along the way they will shoot themselves in the foot, (for want of a better phrase) and go to far. I have a vision of the police marching them off in handcuffs heading for the lockup which I am sure will happen. What do they say patience is a virtue. !!!!!

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