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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: Liberals snub Senate inquiry into Free Enterprise Foundation

Posted by on in Consumers Fight Back
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Liberals snub Senate inquiry into Free Enterprise Foundation

April 26 2016 - 6:25PM
  • Sean Nicholls

Liberal Party figures have snubbed a Senate inquiry into the controversial Free Enterprise Foundation and similar federal fundraising bodies, while star witness Arthur Sinodinos has yet to confirm his attendance.

It is understood former Liberal fundraiser Paul Nicolaou, former NSW party director Mark Neeham, former federal director Brian Loughnane and NSW finance director Simon McInnes were invited to give evidence, but declined.

Arthur Sinodinos under pressure

There are calls for the Senator to step down after questions were raised about the source of millions of dollars of donations to the NSW Liberal Party. Courtesy ABC News24.

Senator Sinodinos, who is cabinet secretary, has been specifically directed by the Senate to appear to answer questions, but was listed as unconfirmed on a program posted by the committee on Tuesday.


The inquiry was prompted by a NSW Electoral Commission statement last month that the Liberals used the Free Enterprise Foundation – an "associated entity" linked to the party – to "channel and disguise" donations, including from banned donors, before the 2011 NSW election.

Senator Arthur Sinodinos has been specifically directed to appear at the inquiry.  

The commission said it relied on evidence in 2014 to the NSW corruption watchdog by officials including Mr Neeham and Mr McInnes and "through them" evidence of the "involvement" of finance committee members including Senator Sinodinos "in the arrangements touching the foundation".

Senator Sinodinos chaired the NSW Liberal finance committee and was party treasurer at the time but has insisted he had no knowledge of the foundation being used to channel illegal donations.

Opposition Leader in the Senate Penny Wong said Senator Sinodinos "ought to do the proper thing" and front the inquiry on Thursday, as the Senate has been waiting for an explanation for two years.

"The ministerial code of conduct requires him to provide an 'honest and comprehensive' account of his conduct to the Parliament," Senator Wong said.

"Senator Sinodinos has made public statements on these matters which make it clear he has nothing to hide. If he has nothing to hide – he should not hide on Thursday."

Senator Sinodinos did not respond to a request for comment.

Greens democracy spokeswoman Senator Lee Rhiannon criticised the reluctance of Liberal Party figures to appear.

"The no-show at the Senate inquiry by a number of Liberal heavyweights suggests that the NSW Liberals have judged they will do less damage to their cause if they stay silent than if they go on the record about the role of associated entities in their party's fund raising activities," she said.

Senator Rhiannon said the failure to appear "prompts the question, what do they have to hide on political donations and their use of associated entities?"

The sole confirmed witness is Australian Electoral Commissioner Tom Rogers.

The NSW Electoral Commission has withheld $4.4 million in public funding from the NSW Liberals until it formally discloses who donated $693,000 to the party via the Free Enterprise Foundation before the 2011 election.

The NSW Liberals have submitted a draft amended disclosure, but the commission has yet to publicly respond.

Senator Sinodinos criticised the electoral commission's report as "flawed" and asked that his name be removed, but the commission declined.



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