The fraud squad will just redirect you back to ASIC.
I, along with many other HML/BHD/JBL shareholders have contacted numerous class action firms, ASIC, the QLD police fraud squad, ASX, NSX, Federal MP's, the Treasurer, the Assistant Treasurer, the Commonwealth Ombudsman - all apparently to no avail.
ASX and NSX have at least exercised the extent of their powers by suspending trading in the listed entities. Unfortunately even that hasn't been enough to protect some shareholders from getting burnt.
A number of journalists have helped us out as far as they're able, but unfortunately it's like that scene in the movie Hotel Rwanda where Don Cheadle's character struggles to understand why help would not be forthcoming once people became aware of the atrocities being committed. The journalist explains to him that people would become aware; they would stop and say "That's horrible!" and then just go on about their every day lives.
The reality is that the ball is in ASIC's court. They are the only entity with the power to fix this and they absolutely need to - otherwise the rest of the world will start to think of Australia the same way that Australian investors currently think of Queensland (aka "uninvestable-land").
HML Price at posting:
$1.99 Sentiment: None Disclosure: Held
