"I actually raised concern on the phone about the collateral lodgement form you sign regarding you holdings and was told, you retain the stock, you own them they are in your name and are just transfered into an ANZ holding account. As i bank with ANZ (not for much longer) i thought there is no risk."
Hi Timbo,
We are too easily reassured by soothing words from incompetant employees. The business should be legally bound by their assurances but just try to prove it!
Now I always ask for the assurance to be given in writing. You would be amazed how seldom it happens.
This is a disgraceful situation and the actions of Opes and the Bank are morally corrupt. They full know that they conned unsuspecting investors.
But the law is on their side and they will spend whatever it takes to win. No one can fund legal actions against Banks.
