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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 LMI Investmnent collapse
  http://www.smartcompany.com.au/growth/economy/31196-angry-investors-line-up-to-sue-financial-planners-over-lmim-collapse.html# Angry investors line up to sue financial planners over LMIM collapse Thursday, 11 April 2013 A "steady stream" of investors are adding their names to what could become a Slater & Gordon class action against financial planners who recommended they invest in mortgage funds issued by collapsed Gold Coast-based fund manager and developer LM Investment Management (LMIM). Slater & Gordon had already issued legal proceedings against financial advisors on behalf of a number of those investors and says more proceedings will be issued in coming weeks. LMIM was placed into voluntary administration last month with initial reports suggesting there may be irregularities in how some of the funds operated. http://www.asic.gov.au/asic/asic.nsf/byheadline/LM+Investment+Management+Limited?openDocument On 8 August 2013 the Queensland Supreme Court appointed David Whyte of BDO as receiver of the FMIF.  Mr Whyte will effectively have control of the winding up of the FMIF. This appointment followed ASIC's intervention in court proceedings...
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LM liquidators get boot over conflict of interest   Monday, 12 August 2013 11:55am   By James Fernyhough  |  In Regulatory   FINANCIAL STANDARD   The Queensland Supreme Court has appointed a new receiver to oversee the winding up of LM Investment Management Limited's (LM) failed First Mortgage Income Fund (FMIF) after it found that its current liquidators had a conflict of interest. The new receiver will be David Whyte of accounting firm BDO. The previous LM-appointed liquidators, John Park and Ginette Muller of FTI Consulting, had previously resisted attempts by the Australian Securities and Investments Commission (ASIC) to remove them from responsibility for FMIF. ASIC said it was concerned that Park and Muller were not putting the interests of unit holders of the FMIF before their own when they called a meeting of unit holders in April to change the responsible entity of the fund. Queensland Supreme Court Justice Dalton agreed, saying: "The...
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  • doyla66
    doyla66 says #
    FTI Consulting's MD Mr Dopking formerly headed-up the insolvency division of ASIC 2008 to 2010., contacted ASIC seeking special tr
  • doyla66
    doyla66 says #
    What? Nanna! That's an issue alright. Fancy his admitting it he had NAB shares. Conflict of interest between Trilogy and LM? Did
  • doyla66
    doyla66 says #
    Yes Conflict of Interest is a problem. In our Supreme court appeal the sitting justice made comment that he had shares in Nab and
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