Yes Michael, we know. But what about PIF frauds ??? ================================================= 'Loan fraud' - but no investigation
Date June 5, 2013 - 3:03PM
Michael West Business columnist
Consumer activist Denise Brailey has countered claims from the corporate watchdog that she had failed to provide documents for them to investigate low-doc loan fraud.
Australian Securities & Investments Commission deputy chairman Peter Kell told Fairfax Media and the ABC this week that ASIC had invited Ms Brailey to “provide evidence of the systematic loan fraud she alleges”.
“The very limited material provided to date simply does not support any of the claims she makes,” said Mr Kell.
However, Denise Brailey has confirmed that more than 100 of the members of her action group, all alleging loan fraud, had filed complaints with ASIC only to receive a form letter saying there would be no investigation and advising them to get a lawyer.
ASIC turns down request
BusinessDay has contacted many of the borrowers to confirm this. The borrowers, many who are pensioners and small business people, cannot afford a lawyer. Of these complaints, many had Loan Application Forms (LAFs), which they claimed had been tampered with, attached.
“ASIC has close to 100 LAFs from members (of her action group Banking & Finance Consumers Support Association) who say they wrote letters to ASIC and lodged formal complaints and attached the offending LAFs,” said Ms Brailey.
“Others wrote letters (another 60 people or more) that were formal complaints that contained no LAF. Every one of my members says they received an identical form letter from ASIC." added: (????????????????????????????????)
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