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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 need a FULL investigation into ASIC, to deal with corruption at the top end # 9

Posted by on in ROYAL COMMISSION INTO ASIC NEGLIGENCE
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PRIME MINISTER OF AUSTRALIA.

Hon.Scott Morrison MP

Department of Prime Minister and Cabinet

P O Box 6500 Canberra ACT 2600

 

Dear Mr Morrison.

THE STERLING GROUP COLLAPSE and ASIC FIASCO.  $36 MILLION COMPENSATION.

                                             JUSTICE. JUSTICE. JUSTICE.

This disaster was initially effecting 101 retirees and 800 investors. The number has grown and landlords are also suffering.  But this is bigger than us. The problems suffered and injustice done, has affected friends and families of victims, and come to the attention of people all over Australia. It is gaining momentum in the fight.

You as Prime Minister, leader of the country, should be responsible to bring resolutions. Put an end to this horrific saga that tenants have been unwillingly put into. The case has turned into a legal nightmare for innocent retirees, of which I am one. We never wanted something for nothing, this choice was good for us, with no hand out required, or to be a drain on the Government.

I  have had to cancel an operation, cancel health cover, give up social activities, already feeling a failure due to this disaster, due to lack of funds. I did not enter this agreement in a game of chance, nor did I expect more than was on offer for my $315.000. A home with a secure lease of 30 yrs., to stay in for the rest of my retirement, using my funds, so I could manage to live on the MISERABLE PENSION.

 STERLING NO LIFE

 

I was told to treat it as my own, as I did by spending $15.000 on security and patio, to be comfortable. Sterling New Life  robbed me of all that money. I then found out about ASIC, who is a NOTHING. Did nothing, said nothing, who failed their purpose, and now people’s lives and health and finances are in jeopardy.

We just want what is rightfully ours. Reinstate us with all funds we had, before this grand theft.

We need a FULL investigation into ASIC, to deal with corruption at the top end, and failure of executives and directors, to do the job they are paid for.

Don’t let us down Prime Minister. All of Australia is watching.

If I have to beg for what is rightfully mine, I will. This is a benchmark for us, and to protect others in the future. We are the innocent. This is not the Australia I want to leave for my children, and grandchildren I am sure you don’t want that for yours either. ACTION URGENTLY REQUIRED.

Yours Sincerely,

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Guest Monday, 16 September 2019