We lost  our  home of  13 years  by  fraud  by  J P Morgan, Bank of New York Trust and  & PEPPER HOME  LOANS and Financial Express pay day lenders.

My  name    is   Terry    Moore   and  my  wife   is  Marlene  Forrest-Moore   we  had  a  home  in  Halls  Head  for  13  years. We raised five children and there are several grandchildren – all decent honest people.

There is no level playing field in Our Story...................

In September 2004  I  had  a work  place  accident  and  in  December  2005, my  wife  had  work  place  injury.  We  had  a  mortgage  over  our property  with  La TROBE   Financial.  In  2007   a  friend   put  us  in  contact   with  a   broker  name  MARY GARTLAND - ABBOTT    Mary   came  to  our  home  in   January  2007    to  talk   about  refinancing  our  L A   Trobe   Financial     at  the time   I  had    small  videography   business (income $15,000) as    sole  trader   operating  from  our  home .   We did not realise at the time the La Trobe loan was a Low Doc.

Our only other income was from insurance claim from work injuries.  Mary Gartland-Abbott   from  Purely  Finance   said  i  can  help   you  all  i  need    is  your   A B N   NUMBER   regards   your  small   and  then  i  get   you  to   sign   a  couple   of  forms   and  thats  all  i will  need.  She was having trouble with the loan and then said,   i am  going  to  try  PEPPER  HOME  LOANS.

To refinance our loan she said  she  will  have to  arrange   Financial  Express   a  payday   lender  to  bring   La Trobe  Financial   loan  up  to  date first.  All together   we  had  3  loans  with  the  pay  day  lender  to  bring  the  L A Trobe  loan  up  to  date   and when  that  was  done   Mary  said  all   Peppers   wants  is  a  6 months  note of financials  from   La TROBE.

Pepper  Home  Loans  declined the loan and the PayDay lenders had cost us the last of our saving as we were really struggling due to the injuries  We were in our sixties.  Yet then Pepper Home loans approved part of the loan.   It was  all a new nightmare because the default  interest  was adding  up  on  the  Financial  Express   payday  lender  loans.

Then Mary  changed   companies  from  Purely  Finance  to  Strictley  Finance, and in early  June  2007   Mary  rings  us  and  tells  us    the   bank   we  are  going    with   was   Legacy   Financial    and    J  P   Morgan   and  the  payments  would   be  about  $4000.00  a month   and  it  would  only  be  for  6mths  so  you  can  get  a  good  credit   rating    then   Mary  Gartland-Abbott  said  i will  refinance  you  into   a  cheaper  loan    that  did  not  happen.

Its the Banks duty to reject the loan not the broker..........................

 My  wife  &  I  where   shocked  at  the  $4000.00   a mth  repayment   because  of  bad  credit  rating  we  think  that’s  why  our  repayments  were so high, but we were now locked in with no way out.   How could we afford that?      Everybody was charging us massive fees and interest, not what was promised. 

In  July  2007   our  refinance  with  Legacy  Financial  and  J  P  Morgan   was   settled, but because of the high repayments we again  struck   trouble   in   March   2008.   We did not understand these things.  We were trying to seek good advice.  None of these loans were affordable, not even the La Trobe loan.

 I rang  Legacy  Financial    and  spoke  to  Clayton  Collins.   i  explain  everything  to  him  he  said  put  everything  in  writing.  We did.  Then I get a call froma guy called Scott  Martin  of  Mobius   Financial   he  wanted    a  copy  of  the  letter that I had  sent  Clayton  Collins of Legacy.   He rang  Clayton .   Scott  said  to me , i  will  send  forms  out  to  you  please   fill  them  out   and  all  the  information  about  your  wife's  workers    comp  claim    i will  have  a answer  for  you  with in  2  weeks.  We   heard  nothing   for  at  least  4  months   then  we  get  a  phone  call   from   Veronica Wang  of   Pepper Home Loans  asking  why   have  you not  paid  any  repayments.   

i  started  to  explain   Veronica  said  please  put  it  in writing  tell us    what   you  would  like  us  to  do  for  you   i  did  the  letter  dated   July   2008.  All letters were  hand written and  sent  by  reg  mail.  We  got  no  response   from  the  bank  and  sometime   between  07 and 08  Legacy  Financial   J P Morgan     change  to   Pepper Home Loans as managers of the loan and also  jp Moprgan had given the title to THE   BANK  OF  NEW  YORK.

On the 23rd  March  2009   I wrote to to   Rahul   Rastog  requesting  a   copy  of  our  loan  application  documents   under   the  freedom information  act.  We  received   a copy  of  our  loan  documents    from   Clayton  Collins    of  Power  Home Loans. 

The Banksters had all switched loans with each other and very confusing.

The LAF only had  11  pages yet the FAX was 40 pages.  Fraud was everywhere.  My small business (earning $15,000 p a, was changed by Clayton to  $10.500 per month!

I also noticed my signature had been forged on one of the documents.  I contacted the bank and  they  did not  want  to  know  about  the  forged  signature  and  the  false  income.

The bank informed me   they had  lodged   a  default  notice.   In May 2009 i sent  a   fax  to  Sam   of   Pepper Home Loans.  He also requested   copies of my wife workers comp   and the  fraud   documents.  I heard nothing back.

  I then contacted C O S L   and  faxed  all    my  documents  to   them.  COSL said “yes its fraud but we  don't   handle   fraud   issue,    you  will  have  to  go  FOS and its now October  2009, but FOS told me I have to write to Bank of NEW YORK Trust to try to resolve the fraud and forgery by ourselves.

I  put   together   a  13  page   letter and sent  it   to  BNY  Trust sent  it  by  reg mail   and  we   got  no  response   and  by  this  time  the  mortgage   was  getting  higher  and  higher  and  higher in default.   Finally  FOS   had  to do   a file  and  check   things  out  a  lot  of  documents  went  backwards  and  forwards  and   we   all  had  a  teleconference  in  June   2010. 

That  did  not  resolve anything.  I try  to  tell   the  bank  about   my  fraud  signature  all they  could  say  all  your  signature's   look  the  same.  Later I received , a document which was an  individual   stat declaration   document, that I told FOS, I  have   never   seen  this  document  before and   it  had   that  my    small  business  as  sole  trader   one  man operator   earning   $12.500  a month   or  $150.000.00   a year   and  signature   on  the  bottom    that  look  like   my  signature   either  the  next  day  or  same  day.

I  went  down  to Mandurah  Police   Station  and  signed   a  stat  dec   to  say  the   information  on  this  form   was   false  and  that  was  not  my  signature   on the  bottom  of  the  document.

Then  we  asked  F O S  to  take   it   to  their  REVIEW PANEL   for  final  decision   that  took nearly  12mths.  They said its Maladministration, but was  50\50  fault and   no  fraud   found   and  we were then told to  hand  the  home  over  to  the   BANK  OF  NEW  YORK   \  PEPPER HOME  LOANS   possible  to  receive   $100.000  less  any  cost  involved  we  said no  to  this  deal . 

FOS then closed our file after the Panel decision.  We were totally new to this system.

 In June 2011, we   contacted   Denise   Brailey of BFCSA.  She did try hard to get  our  file  reopened and properly investigated.     But no luck as the  Chairman   of  FOS   passed it  on   another  dept  they  another  look  at  it  and  said  we  are not  going  to  reopen   the  file,  no  fraud  found  and  file  is  now  closed.

 Yet before 2011 FOS had suggested $100k payout because of the fraud.  We did not realise at the time it was  take it or leave it offer.  They still refused to open the file.

 Denise  asked   did  i have  a  copy  my  application  from' the  L A TROBE  loan.  No we did not so I asked them to send me  a copy  of  my  application documents , our income had been fraud also and said we were  investors earning  $56.000 per year!

 I can see now the Banks are just stealing people's  asset's.

So  Denise  Brailey   Wrote  to   ASIC Chairman   Greg  Medcraft    asking   for   urgent  help   so  Greg  handball to  another  dept  and  that   dept  had  a look  at  details  that  Denise   sent   to  ASIC.  Their response was   we  don't  handle  fraud   issue  and we  don't have  powers  to  investigate.

Denise wrote  to ASIC once more and still received same answer.  Later she sent a third letter on our behalf saying its in the public interest to fund our case as the evidence is all there.

In   September   2012   The  BANK  OF  NEW  YORK   &   PEPPER  HOME  LOANS were trying to serve writs to take   our   home  from  us.    

We   engage   Gibson  &   Lyons    Lawyers     to  fight  the    writ  of  summons    in  late   November  2012  we had  about  4  appoints  with  Gibsons  Lyons.  That was a waste of time.

The  hearing  was  on  the 5th  of  July  2012  and Tim  Lyons  said  we  did  not  have  to   attend,  and  Master  Sanderson  handed  down  his  decision   on  the  24th  of  July  2012,The  Bank  of  New  York  &  Pepper  Home  Loans   got  Summary  Judgment.

After  sending 3  emails   to  Tim  Lyons  requesting   a  copy  of   Plaintiff  Affidavit  in  reply   and  Submission,  we  finally  get  a  email  from   Janet  Mason   of  Gibson   &  Lyons   saying   the  the  information  you  have   requested  is  in  the  mail which we received  the months after the hearing.  In  this  broken  envelope  it had  Affidavit’s  that  we  needed  to  build  a defence,  we  did  not  have  these  Affidavit’s   Tim  Lyons of  Gibson  &  Lyons  or  Brian   Smith  of   Gadens  Lawyers  with  the  BANK  OF  NEW  YORK.

 My  wife  &  I   cannot  understand  why  our lawyer did  not   show  us   these   Affidavit’s  or   discuss them with  us  so  we  could   build  a defence  so  we  could   fight  to  save   our  home  of  13  years.  It  would   have  made  a  big  difference  in  the  outcome  of  the  case.

There   has  been  miscarriage  of  JUSTICE IN  OUR  CASE,  which was shown to favour  BANK  OF  NEW  YORK   &  PEPPER   HOME   LOANS.

We used our last few dollars to pay   Rowe  &   Bristol  Lawyers ,  they  said  Master  Sanderson  made   a  mistake  in his  decision  but  we   had   to   do   the  appeal  first, we  use  the  last  of  my  wife's  workers  comp  money    to  pay  Rowe  & Bristol, the  appeal   was  heard  by  Justice  Murphy  he  said  there  was  four  grounds  for  an  appeal   (1) the  bank  knew  that  appellants  could  not  afford  to repay  the  loan.  (2)  the  bank  engaged   in  asset   lending  in  that  it  had no  regard   to  the  ability  of  the appellants   to  service  the  the  loan.  (3)   the  bank  failed  to  comply  with  its  own  credit   policy  guidelines  and,   (4)   the  bank  failed to  comply  with  aspects   of  the  CONSUMER   CREDIT   (  WESTERN   AUSTRALIA  )  CODE   as   it  applied  at  the  time  that   transaction  occurred.                                                                                                                                        

We were elated that at last we had a real chance to fight for our home and present our evidence.  We were so thankful to Justice Murphy.  He was the only one who truly understood the case.

But  the BNY Trust and Peppers and Gadens played dirty and asked  for  a surety  of   $225.000.  We  had   only  3  days    to  try and  raise   this money  when we   could not   pay  our home  loan    when  a  bank  officer  has  said   my  company   was  earning  $150.000  a year  which  is  false.

I  rang   Denise   Brailey again in desperation and  she  urgently email   ASIC   and  asked  GREG  MEDCRAFT   for  help for  our case.  She stated in her letter to the Chairman that this was fraud and forgery, the appeal had been allowed and THIS WAS IN THE PUBLIC INTEREST.

Chairman of ASIC  Greg Medcraft once again  handballed  to  another  dept.  They said NO again – no public interest!   It  was  too  late as we  only  had  3 days   to  raise  the  money,  so  the  appeal  was  dismiss  on  the  3rd  of  October  2012.

 In 15 years, ASIC has taken NO cases to court against these Banks....none.

On  the  4th  October   2012   at  9 am  The Sheriff,came with locksmiths and removalists and took everything.    He kicked   us  out  of  our  home  of  13  years.  We  never  even had  time  to  get  our  animals  out  or all  of  our  personal    gear,  because  we  were  in Perth, in  court  trying  to  get  extra  time to  see  if  ASIC  would  come  to  the  party  and  help  us.  ASIC do not care; they just see us as a nuisance and do not care it’s our home.  Three letters were sent to Medcraft over several months by BFCSA, and then we find out he earns $800,000 a year, and has a budget of $400 million per year,but he could not find $225,000 to fight the appeal as a case against the Banks, when Justice Murphy said there were four grounds for appeal.

So  we  ended   up on  the streets and  nowhere  to  go until our eldest son made room for us even though his wife  was  having  a baby  it  was  very hard  for  them both and  our   stuff  was in  storage   units.  We also had to pay to get our things back.

We had all the evidence of fraud and forgery and an expert to show the forgery and we know the culprit inside the bank….we had a STRONG CASE which would have helped all people in this same situation.

Now we have no  money  we  are  only  on  a  pension  thanks to ASIC, FOS protecting Bank of New York and Pepper Home Loans. 

Later we found even more evidence that the banks had kept from us in the original hearing.

But the agony was not over for me and my wife.  We both had to declare ourselves bankrupt because the greedy banks and lenders were demanding interest upon interest upon interest.   They bled us dry.

These Banksters did not only steal our home, they stole our lives, our health and our dignity and ASIC and FOS let them go for it.

ASIC had all the evidence and turned its back on us…..three times!!!

At the end of the court case the original mortgage was calculated by the Banksters of course at  $742.000. 

Our modest home sold for $340,000  so leaving a debt balance of $400.000 most of which was used to pay payments to the banks.  We received no benefit from these loans.

What type of Justice are we delivering to ordinary people?  ASIC, FOS and COSL all failed.

Greg Medcraft and Peter Kell should resign immediately.

Kind  Regards  

If you wish to contact me, Denise has my number. 

Terence  and   Marlene