afr reckon opes investors lucky opes went bust, page-2

Opes reportedly said investors would retain “beneficial and economic ownership” of the loaned stock and the transaction could be “reversed at any time.”


“The statement on the web page is not replicated in the agreement,” Justice Bergin said. “The agreement is quite to the contrary.”

Indeed the phrase in the first para was on page 5 of the 2005 Opes client agreement

Further it was included in power points and other literature explaining equity financing..distributed to stockbrokers

It stood bold ,as a the key selling feature, on the Opes website for 3.5 yrs....only being replaced 1 month before the company foundered

Micheolo

..in the language of prior years before the popularity of litigating under s52 of the Trades Practices Act ...offences such as the above are called fraud

ANZ ,we allege, were fully aware of the statements made to defraud Opes clients

ANZ , also perpetuated the deceit by not lodging substantial shareholder notices for some 88 companies for a period of over 3 years

ANZ are currently the beneficiaries of on of the most widespread frauds perpetuated in Australia for some time

Despite , your ghoulish goading ...do you honestly think that will stand the litigation onslaught being commenced at the moment?