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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: FreemanFox Wealth Club - Spruiker Peter Spann

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Something is rumbling in this camp this week.......

Peter Kell of Australian Securities and Investment Commission   You said in 2003, you "hold concerns about so called "wealth creation" SPRUIKERS.  You repeated this in 2004 after the Henry Kaye debacle and LOSSES.

In Parliament four weeks ago you Mr Kell,  stated: "we have concerns about SPRUIKERS."  I continually warned your superiors about 110 active spruikers  as did NEIL JENMAN at that time.  ASIC ignored the fact that people were being spruiked into a lifetime DEBT.

The target market was  MR and MRS AVERAGE DECENT CITIZEN....Mums and Dads on modest incomes.  Mr Kell, you are the one that spoke again at subsequent consumer protections seminars.  Please tell us Pete, why did ASIC allow this game to keep in play?????

And which bank was responsible for nasty equity loans to Mr and Mrs Average stitching them up with LOW DOCS?  

Ah YES MACQUARIE BANK IS first cab off the rank.  No surprises there.  ROYAL COMMISSION LONG OVERDUE!!!

Political Parties need to get a grip!  The average aussie may say: "if there is a war on can it wait till Monday as we have a BBQ on Sunday and the footie or cricket is on."  

However the Aussie spirit is alive and well.  You attack their home their security (modest it may be), their family, the average aussie will come out from the trenches fighting with every weapon they can lay their bare hands on..

One of Spann's companies went into LIQ last year.............................

BFCSA Members will have a lot to say on this one.  Particularly Macquarie Bank victims.

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Guest Saturday, 14 December 2019