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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: PM Sterling was protected by ASIC with lack of proper investigation into THEFT from elderly pensioners

Posted by on in ROYAL COMMISSION INTO ASIC NEGLIGENCE
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Prime Minister of Australia

Dear Sir

I write his letter to complain about the lack of proper investigation into the Sterling New Life scheme aimed at elderly pensioners. This idea was to invest into the company trust fund which in turn invested our money to pay a long lease in a new home.

We looked at this idea and found it appealing and consequently went ahead and signed up in Sept 2017. It was great and we were happy and content.

In July 2018 we received a phone call from Michael Darch of ASIC asking were we happy with our situation and did we know what we had entered into. Some 2-3 days later we had an email apologizing to us and hoping he had not upset us with his enquiry. May of 2019 the company was in administration and we along with 120 other older couples lost over $270,000 each in this scheme.

My understanding is that as far back as 2010 the WA Consumer Affairs sent a report to ASIC indicating that this was a highly suspect business so my questions are

1.Was such a report made to ASIC by the WA Consumer Affairs?

2.What did ASIC do about it?

3.Why was I contacted by phone in 2017 by ASIC?

4.Did ASIC know that the scheme was a Ponzi and that it should have been shut down?

5. Has ASIC had dealings with Armstrong Jones?

6.Do you think ripping off pensioners of Australia is fair game?

7.Will you instruct ASIC to reimburse all of us affected by their lack of integrity, fortitude, investigational skills and above all no advice to Australians of this criminal act of misinterpretation.

Finally, will you instruct the Federal Police Fraud Squad to find these white-collar criminals and bring them to justice.

We need your help an understanding and action in our time of stress and worry.

I look forward to your reply to my questions as early as possible.

MF

Tennant and Investor

 

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  • Guest
    Gregory Bahr Tuesday, 29 October 2019

    BOQ ,FOS AFCA, ASIC, CUSTOMER ADVOCATE BOQ

    Dear Denise . Thanks for your help in the past 2013. Nothing has changed the story above [Sterling] tells it , now 2019 and the fight continues for correct compensation UPDATE, The Arbitrator turned out to be a crook as proven in his court case CBA . he got us for $20k Thousand and tried to bust my Marriage he is as Dangerous as what the reviews said .Debbie Complained about her Manager that did our loans ,he was not doing his job Corporate Branch .She was Roasted & Bullied by the Regional Manager BOQ. she won Qcomp &Workcover .The BOQ Branch Manager went to JAIL for Fraud .FOS & Philip Field ruled 5 out 6 Loans Guilty Mal Admin Lending the 6th Proven by Forensic CPA wrong.$1525 difference, FOS gets BOQ over the line by$3.00 saving a 100% ruling, we never signed the FOS Determination. We agreed to accept paperwork from BOQ that has no mention of FOS or Wcover case only a money settlement ,Paperwork arrives including all aspects it took 12 days & $17k Thousand to try and separate the wording .That Broke us still wording not right, Refused to corporate so the Court case for w/ cover was discontinued because the Legal Bill with BOQ tatics was going to be $250k Thousand .We were placed under severe stress and a DEED which BOQ Breeched in 2015 which Greg,s Business never recovered . Debbie Health is ruined by now, the Fight continues FOS broke all there own rules to save the BANK , 6 Submissions each lodged to the Banking Royal Commission useless ,2019 and the new AFCA A New case is issued to us in January all new evidence submitted including Philip Field case for the Hino Truck Lemon 2015. which he says how Bad we were treated in our Original case 2012 , no luck our case closed by AFCA 5 conflicting replies . so quick to protect the Bank again .Even the Advocate cannot do the sums. Our loans were done early June 2006 tax returns not done yet .2004, 2005 should be what all our Rulings are done by 2 Forensic CPAS our own CPA all say our figures and our cases must be redone . The worst mistake we made is going to all the Regulators, there interest is in saving the Bank because they are Funded by the Banks , We should have kept going with you Denise, Media and not accept anything but the correct Compo eg Current Affair as soon as a Bank Story goes on there its resolved .Now Both Jobless Health Ruined and a SICK Child soon to be Homeless as well .How could this Happen to a Family Honest Hard Working Clean Records. Since the Manager going to Jail. we can prove the Regulators have all worked in together to save a 100% ruling against the Bank . Even The Forensic cpas reports x by 2 @$2500.00 each proving us right means nothing to all the Regulators what hope has anyone got so far $500k spent proving we are right to expect a fair outcome with totally overwhelming evidence in our favour to end up Homeless & Broke where to now for help ,they laugh and tell us to go legal knowing we cannot , Been there can someone HELP US Regards Greg

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Guest Thursday, 14 November 2019