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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: To A Current Affair (QLD) Channel 9 - here is the real truth... "it is the BANKS that are the main culprits committing this fraud"

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Hi Caroline,
                     We just wanted to say thank you to you and to your film crew that came to our house yesterday, for their friendly & compassionate way they treated us.
I just need to point out one very important main point that your program missed :
That it is the BANKS that are the main culprits committing this fraud, the brokers are just the fall guys that the BANKS & ASIC are trying to blame, to cover up their fraud.
ASIC have also been corrupted by the banks, & bend over backwards to protect the BANKS.  ASIC are just running a cover up job, by trying to deflect the blame onto the brokers, and the reason they are only doing this now is because there is a Parliamentary Inquiry into ASIC, and of 400 letters/submissions, 99% of them are extremely critical of ASIC, with many of them telling of widespread corruption within ASIC. ( I have read them all.)
A good example for you to read & follow up on would be the very accurate submission by a reputable Lawyer, Stuart Levitt, of Levitt Robinson Lawyers. (Submission 276 Current Senate Inquiry into ASIC) 
These corrupt BANKS are putting thousands of decent Australian families out of their homes - it is the same sub-prime loans scandal that happened in America - and its happening now right here in Australia, & it must be exposed by programs like yours, before many thousands more families homes are stolen by these criminal banks.
I gave your film crew member a list of probably 25-30 other victims of bank fraud that you should contact to do similar stories on.
Some of these are old age pensioners that are being threatened by their banks - some of them have told me that they are considering suicide because of what the banks are doing to them.
One old lady on that list is a grey haired grandmother, wheelchair bound 78 year old, on her own, & is so extremely frightened of what the bank is trying to do to her, she wants to kill herself.
Another on that list is an elderly 74yr old lady, who came home to find the bank had broken into her home while she was out & the bank had tried to change the locks on her doors to stop her getting back into her home.
Another on that list is another elderly couple - that have not paid their mortgage payments for over 5 years - yet the bank cannot kick them out of their home because the banks lawyers know that the bank has committed fraud.  These poor people have been living in limbo for the last 5 years. 
Below is part of their e-mail to me:
In 2009 we decided to stop making repayments (with buffer money) as we knew it was fraud and ultimately the money was about to run out anyway.
We asked our lender to put a moratorium on our mortgage as it should never have been approved in the first place.

We eventually got our moratorium but shortly afterwards we had a bailiff at our front door wanting to issue us with a writ.
I spoke to the person who had fixed the moratorium and abused the hell out of him for sending the bailiff. I told him that he had committed a crime and that i had reported him to the Victorian Police. I abused him for not returning my calls or communicating with me properly for the last 6 months or so.
He replied that he had to answer to higher up and he could lose his job.
I said "i would rather you lose your job than us lose our house as you can always get another job but we can never get another home.
In the next few days we received a letter from Gadens Lawyers stating that the Plaintiff was prepared to hold action and the matter will be reviewed in due course.
In the meantime we have written to the lender and ASIC several times but nobody seems to want to bring this to a agreeable settlement.

We have a few weeks ago lodged a complaint with the Fraud Squad but still no acknowledgement as yet.
So here we are living each day in uncertainty.
This is an absolutely disgusting way to treat people.   Banks abusing decent people, trying to steal their home from them, then hiding behind their Lawyers.
These bank executives should be prosecuted & jailed, just as they were/are in Iceland.
In mine & Carol's case, we made an appointment with our local MP, Karen Andrews, & went to meet with her to show her the Loan Documents that had been 'Tampered' with.  After reviewing the documents she also agreed that they were fraudulent and suggested we go to the Police. The Police then referred us to the Criminal Investigations Branch. The CIB then asked us to come to the CIB offices, where we did our Affidavit which documented all of the fraud.
So far the Detectives trying to get copies of the documentation was having trouble with the bank, as the bank was "not co-operating", so the police have issued warrants on the CBA to try & get the 'Original" signed documentation. CBA's formal response to the CIB was that " The bank has destroyed the Original documents." 
Why would they do that if they had nothing to hide? Because they know that they have committed fraud!
When we first requested a copy of our Loan Application Documents, the CBA staff member admitted it & even told us :
" No, we can't give you a copy as it would leave the Bank open to prosecution! "
I re-iterate the main point : It is the BANKS that are the main culprits committing this fraud.
It must be exposed by programs like yours, before many thousands more families homes are stolen by these criminal banks.
Please help us.
Thanks again,
Wayne & Carol

 ED:  Its the Engineering of the Service Calculator that's the criminal issue. WHY?  Because it demonstrates Bankers' Intentions to invent a calculator and set it to deliberately fudge income figures.  Rigged so every loan would be approved and none rejected..............key element of fraud (in criminal law) is INTENTION TO DECEIVE.

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  • doyla66
    doyla66 Friday, 24 January 2014

    Could somebody please remind Peter Kell that the same old ASIC line from the same old ASIC script re all blame lies with rogue brokers and ASIC is right onto them is so very old hat it made him come across as if his words were uttered with a loaded gun aimed at the back of his head. Bad choice of words Mr. Kell and eyes are always a dead giveaway and yours looked so very smug I suggest you study up fast on the meaning of plagiarism before new game rules come into play or you might end up a victim of your own rules!

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