26 June 2019

 

ASIC CHAIRMAN    

Re  Sterling New Life

 Dear Mr Shipton


It is with considerable distress that I write to complain about the preventable loss of our retirement investment in a 40 year Sterling New Life lease worth $254,000 – most of my husband’s superannuation.

Following a lifetime of employment housing (my husband was a local church pastor) on a single modest income, it seemed the only way to achieve a secure retirement in Perth where we could be near our son who lives with a disability.

 

The collapse has devastated us, and I understand it was preventable because ASIC has known about this company and its shady directors since 2015. Whey were we not told before signing away our life savings in super? What is ASIC’s duty of care to the consumer?Natural justice would see an urgent full return of money preventable invested in a fraudulent product for all those, like us, who were taken in.

 I hope you will enable this redress as soon as possible.

 

Sincerely