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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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Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

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Subscribe to this list via RSS Blog posts tagged in Bernie Madoff
http://www.theguardian.com/business/2012/may/20/wall-street-role-financial-crisis Heist of the century: Wall Street's role in the financial crisis Wall Street bankers could have averted the global financial crisis, so why didn't they?.......... Charles Ferguson  The Guardian, Monday 21 May 2012   Bernard L. Madoff ran the biggest Ponzi scheme in history, operating it for 30 years and causing cash losses of $19.5bn. Shortly after the scheme collapsed and Madoff confessed in 2008, evidence began to surface that for years, major banks had suspected he was a fraud. None of them reported their suspicions to the authorities, and several banks decided to make money from him without, of course, risking any of their own funds............ The Securities and Exchanges Commission has been deservedly criticised for not following up on years of complaints about Madoff, many of which came from a Boston investigator, Harry Markopolos, whom they treated as a crank. But suppose a senior executive at Goldman Sachs,...
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  • doyla66
    doyla66 says #
    FOS and COSL certainly are part of the problem in covering up forgery and fraud, listening to bank seconded lawyers is incomprehen
  • doyla66
    doyla66 says #
    So that means FOS and COSL are responsible for covering up crime as well. Not to mention their Determinations which so often enshr
  • doyla66
    doyla66 says #
    No one wants to burst the bubble in this country either. White collar crime is rampant in Australia,and those that are supposed to
  • doyla66
    doyla66 says #
    Does this mean that ASIC are responsible for aiding and abetting criminal activity by not reporting illegal and fraudulent activit
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Posted by on in Corrupt Regulators
ASIC’s problem, as Paul Barry indicated in his excellent article on Storm Financial (‘In the Eye of the Storm’, February 2011), is that the regulator is far too compliant and process-driven at the top, rather than being proactive and bold enough to get out there in the financial marketplace, look at what advisory firms are up to, and take action to nip in the bud schemes where rogue advisers play dangerous games with investors’ hard-earned retirement savings. ASIC should shut rogue advisers down and take away their licence to give advice before – and not after – they inflict catastrophic damage on investors. Read on .... http://www.themonthly.com.au/letters/anne-lampe EDITOR:  ASIC needs to start the long overdue into the Banks that were freely handing out the money for "pensioners" to invest their homes into dodgy investments.  The buck stops with the Banks.  NO dollars no purchase and ASIC knew that a decade ago....
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  • doyla66
    doyla66 says #
    That's what I've been wondering, Gaby. I find the indifference to the suffering of others evidenced in Australia quite incredible.
  • doyla66
    doyla66 says #
    Can it be true that just about everybody who could make a difference is indifferent to all the suffering incurred? What's gone wr
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  by Paul Barry The Monthly | The Monthly Essays | February 2011 | By mid March, America’s champion fraudster Bernie Madoff will have served two years of a 150-year prison sentence for stealing billions of dollars from his rich and famous investors. As he chalks up the anniversary on his North Carolina jail wall, our corporate cop, the Australian Securities and Investments Commission (ASIC), will have barely begun its action against Australia’s champion wealth destroyer Storm Financial Ltd, whose reckless advice cost 3000–4000 investors in Queensland, New South Wales and Victoria around $3 billion. Yet these financial collapses happened at almost exactly the same time: Bernie Madoff was led away in handcuffs in December 2008, just as Storm’s banks pulled the plug on the big Townsville-based financial planner and its unfortunate clients. There are, of course, huge differences between the two cases, not least that Bernie Madoff pleaded guilty and...
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  • doyla66
    doyla66 says #
    Bernie Madoff is serving 150 yrs in jail. Good. His son killed himself in shame. Good. Bank executives are next in line. Even bett
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Gold Coast Bulletin. 22/9/2012. New York. Victims of Bernie Madoff's massive PONZI scam will soon receive $2.39 BILLION DOLLARS to help them cover their losses.  Cheques ranging up to $507 million have been mailed to 1230 former customers of Bernard L. Madoff Investment Securities. The payout, the second of its kind, tripling the amount recovered, brings the total to $3.49 BILLION DOLLARS. Madoff is serving a 150 year jail sentence at a North Carolina JAIL.  He ripped people off for nearly $63 BILLION DOLLARS from clients over decades, paying out fake "profits" to some investors by plundering the new cash from others, before the fraud collapsed in 2008.   AUSTRALIAN BANK EXECUTIVES SHOULD BE NEXT IN LINE.  ...
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Posted by on in From My Window
By Susan Fujii In today’s technology-driven world, you can easily go for days without needing to speak face-to-face with another human being. Need to get gas? No attendant necessary, just pay at the pump. Groceries? Use the self-checkout lane. Need some cash? Stop by the nearest ATM. Hungry? Place your order online and have it delivered. I could go on for several paragraphs, but I’m sure you get the idea. It’s rare today that we take the time to speak with the people behind these businesses. Growing up when I did (ahem, many years ago) in a small, rural American town, this wasn’t always the case. I knew all of the bank tellers by name and they knew me. I exchanged smiles and face-to-face pleasantries with the gas attendants and supermarket check out clerks, and personally knew the owners and the staff of every business in town. I, of course, completely...
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  • doyla66
    doyla66 says #
    I know what you mean, Arree. You think you know someone (accountant and CPA) quite well in business. Long established, conservativ
  • doyla66
    doyla66 says #
    EXACTLY! But then again, you can still be duped by meeting "a wolf in sheeps clothing" AKA our broker
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