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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: Dear PM We are now facing homelessness due to ASIC’S recent lies to the public # 5

Posted by on in ROYAL COMMISSION INTO ASIC NEGLIGENCE
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13th July 2019

 The Hon Scott Morrison MP

Prime Minister

Parliament House, CANBERRA ACT 2600

 

Sterling New Life Collapse

 Dear Prime Minister

 As you are aware in 10th June 2019 our whole world was tipped upside down sideways etc while ASIC sat on their hands (ass) and has done nothing.

 February 2017 we signed and gave our life savings and I mean life savings $125,000 plus the $20,000 on upgrades with receipts, nothing was withheld and we secured a 40 year lease with a secure roof over our head. Now nothing and no prospect of ever making up this money ever again. My 74 year old husband has had to return to work and due to health issues I am unable to work. Why was this allowed to happen and continue?

 It has come to my attention that ASIC reports monthly to the Federal Treasurer and you who was Treasurer at the time now Prime Minister raises matters that need investigating. Were the Sterling group of companies ever brought to your attention and at least from 2015 onwards? If so why were they allowed to continue even when insolvent selling their products to vulnerable retirees in 2018/19 who were looking for a secure future. Why have you done nothing in the time as Treasurer and now Prime Minister letting sleeping dogs lie.

To say we are so angry with the inaction of the Government is an understatement.

 We cannot believe we are now facing homelessness due to ASIC’S recent lies to the public by telling the media they were unaware of this looming collapse corporate stance, that they first heard of Sterling Group in 2018.  This is totally criminal to say the least.

 We have worked all our lives over 50 years paying tax and no pension increases even though as a woman first off you increased the age from 60 now to 66 for myself and for my husband 65 aged pension but who still has to go and find work as now we have nothing left nothing at all.  Also no increase for Newstart at all. Honestly what do you expect us to live on now no backup now at all as all our monies have been taken.

Where is your Christian attitude now Mr Morrison?

 Believe me if you expect us to roll over and go away you are very mistaken while there is a breathe in my body and my family we will not go away the laws need to be changed so that this never ever happens to anyone again and to return our monies so that we may have a safe secure future with a roof over our head again.

 

Yours sincerely

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