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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.
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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.
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Eye of the Storm: The Collapse of Storm Financial
The Monthly | The Monthly Essays | February 2011 |
By mid March, America’s champion fraudster Bernie Madoff will have served two years of a 150-year prison sentence for stealing billions of dollars from his rich and famous investors. As he chalks up the anniversary on his North Carolina jail wall, our corporate cop, the Australian Securities and Investments Commission (ASIC), will have barely begun its action against Australia’s champion wealth destroyer Storm Financial Ltd, whose reckless advice cost 3000–4000 investors in Queensland, New South Wales and Victoria around $3 billion.
Yet these financial collapses happened at almost exactly the same time: Bernie Madoff was led away in handcuffs in December 2008, just as Storm’s banks pulled the plug on the big Townsville-based financial planner and its unfortunate clients. There are, of course, huge differences between the two cases, not least that Bernie Madoff pleaded guilty and Storm’s founder, Emmanuel Cassimatis, didn’t steal investors’ money. But there are also strong similarities; these two super salesmen helped wreck the lives of thousands of elderly investors.
Read on ..... http://www.themonthly.com.au/collapse-storm-financial-eye-storm-paul-barry-2980
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Bernie Madoff is serving 150 yrs in jail. Good. His son killed himself in shame. Good. Bank executives are next in line. Even better.