Letter to Porter, Cormann, Di Natale, Katter, Hanson, Lambie and any one else I think of
THE STERLING GROUP COLLAPSE: $28.6 Million Compensation
ROYAL COMMISSION INTO The Australian Securities and Investment Commission
Dear Mr Porter
MY husband and myself are victims of the Sterling Group collapse along with 100 other tenants, landlords and investors. Most of these are in Western Australia but there are others in Victoria and Queensland too. I am appealing to you for your help in securing $28.6 million in compensation for these people who have lost their life savings and potentially face the prospect of being evicted from their homes. Many are in very poor health and the stress of this situation is unbearable.
We did our due diligence before we entered into the Life Lease and nothing seemed amiss. This was where we were going to live peacefully in retirement. Little did we know that ASIC had been notified about irregularities in some of Sterlings products and knew about the dodgy backgrounds of some of the promoters yet they chose to keep this a secret and not warn us unsuspecting retirees. This is lazy, negligent behaviour on the part of ASIC which has had catastrophic results. So, I am also appealing for your help in calling for a Royal Commission into ASIC because they are at present clearly not doing their job as consumer watchdog.
My letters to Mr James Shipton, Mr Josh Frydenberg and Mr Scott Morrison have so far gone unanswered. Do the Government have no compassion or consideration for us? We are a group under the leadership of Denise Brailey, a dedicated consumer advocate, and we will not give up; we will not go away.
Please do whatever you can to help bring satisfaction to these devastated individuals.
D P