The Federal Treasurer
Hon. Josh Frydenberg MP PO Box 6022
House of Representatives: Parliament House Canberra ACT 2600
“Stirling Long Life Lease “
Dear Mr Frydenberg,
We are writing to you about our devastation of the collapse of Stirling Income Trust and our loss of lifetime savings amounting to $220,000,we are both 80 years old and are reliant on our Pension which are not keeping up with the cost of living so that’s a double whammy.
This situation Is absolutely disgusting and could have been avoided If ASIC had stepped In Four years ago when they knew what Stirling were up to, Its criminal that they have swept It under the carpet and let them continue with their Ponzi scheme especially when It not the first time these Directors have been Involved In similar businesses
ASIC didn’t see the red flags with the goings on especially after Investigating them for at least four years well before a large number of us signed up for a lifetime rental scheme and they could have avoided all the pensioners stress and losses,It begs to ask the question what do ASIC do with the $450 million that Is given to them on a yearly basis when they are supposed to be weeding out this type of scam?.
We hold ASIC responsible for the situation we are all In and expect the government backed department to cough up our money for the complete lack of policing what they should be policing that Is their job not to Ignore the obvious.
What would you do If this was your parents In this predicament?.
And now we are Informed by Centrelink that we cannot claim for rent allowance and It was them that gave It to us In the first place what a shambles this government Is In when they don’t even know what’s happening In our country.
Once again Its pick on the vulnerable Pensioners.
We don’t know how you sleep at nights.
Consumer Protection Is a myth and there should be a Royal Commission Into ASIC.
Yours Faithfully