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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: Mr Andrew Hastie MP for Mandurah - Corrupt ASIC major part of the Problem

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Dear Mr Hastie,

 In June this year I wrote to you advising of the plight of the victims of the Sterling Group collapse. Your office replied on the 24th June stating “The Government does not usually intervene in what is an essentially a business related transaction once it is under legal consideration”.

  Slight issue here The legal consideration is the ASIC investigation. With all the evidence that has come to light in the past few weeks it is obvious that corrupt ASIC is not part of the solution, they are the major part of the problem.

 On behalf of myself and the other victims I now request you to take an active leadership role in seeking redress and justice for the victims of this scam and not hide behind the fact that ASIC are continuing their “investigations”. Forget the legalities this is a moral crisis that has had a devastating effect on the financial and emotional well being of hundreds of people, many of whom live in your electorate of Canning


 We have written to the Chairman of ASIC, the Federal Treasurer and the Prime Minister to seek urgent compensation for the life savings that have been stolen and have left elderly Australians destitute. We ask that you support us in our request for justice in the matter through your representation to your parliamentary colleagues.


We also request that you add your signature to our petition that states “We, the undersigned, call on the Federal Government to immediately act to compensate the elderly innocent victims of the liquidated Sterling First group of companies following the failure of ASIC to take early action to warn people about the dangers they faced.  The collective losses due to ASIC NEGLIGENCE are $36 million.  BFCSA expect payment arrangements within 6 weeks”.



If you are unwilling to sign this petition would you please state your reasons?

 There are some cynics amongst us who have suggested if we were white South African farmers we would not need to plead for help. Please help prove them wrong.


Yours sincerely


 name and address supplied

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Guest Wednesday, 20 January 2021