Asic dont investigate directors QPs run protection racket for fraudulent behaviour of directors detrrimental behavior to a whislteblower ignored Anarchy in the corporate world . Thank you senator Bragg and John Adams - ps a secret investigation carried out internally in QPs re fraud police misconduct right of information abuse of authority etc . They are covering this up big time
ls this part of the chaos leading into the new Quantum Financial System? US National Debt 35 Trillion, Unfunded liabilities 150 Trillion and Australian National Debt 1 Trillion?? New World (Digital) Currency rolling out shortly.
Hey John and Martin, you really should do a follow up video on how you were wrong about your prediction of the war on inflation not being able to succeed and catastrophising the situation. You really should continue your commentary and explain how your predictions ended up being wrong.
I can't wait for the bombshell ... I will be watching out for this ... we, the public deserve to know, not only this, but everything ... I'm guessing there will be a few (?) politicians having sleepless nights .. thank you both ...
Nothing. That's what's happened, nothing Australia is just as bad as the most corrupt countries in the world go back to the 60s and what Whitlam did in the 70s what every government since has done
ASIC is a government department. It is wholly owned by the FEDERAL GOVT. They use it as a CASH COW and do not give the ASIC personel sufficient funds to investigate all complaints. Have had experience where we provided ASIC with proof of false accounting and they did nothing. The creditors lost heaviily and the director retained all assets and is still using them today. It was like the creditors have no rights and the directors are protected by the FEDERAL GOVT. If ASIC was properly funded things would be different. ASIC chases public cases, little ones are ignored. Unfortunaqtely small business people and the public are not helped. They should not have control over liquidators. There should be an independent body similar to the Tax Agents Registration Board. All Liquidation documents should be Scanned so that the creditors and the public can view them. Currently ASIC allows liquidators to destroy records - Once shredded - no blame can be apportioned to any body.
I find it rather ironic that here in Australia the Senate Economics Reference Committee inquiry report into ASIC has highlighted very low Morale within the ASIC workforce and yet this is precisely what has been highlighted during a U.S House Oversight Committee hearing into the Secret Service after the Trump assasination attempt. The Secret Service was ranked 413th out of 439 Sub-Agencies. That speaks volumes about why large organisations fail.
I bet these bankers corporations and politicians I just laughing themselves silly none of them will be affected yet they cause the problem funny that isn’t it
Do you mean things like "Albo is a scumbag and works for the WEF and not Australians?" Things like all politicians are on the take and lining their own pockets at taxpayers expense,? Would people say such awful things?
ASIC screwed me over and being the last level of complaint after going through all the levels of complaint departments and providing valid arguments as to why money that was meant to be paid should still paid as the reasons for not paying were not valid any way 12 months later still waiting on asic I FOI the information regarding all correspondence between ASIC and and other agencies and the emails and correspondence provided me damming evidence that they know I should of paid the money because they find any other reason to not pay me money I was entitled to also with the FOI documentation ASIC had 8 pages completely black out and stated that the information with in the 8 pages is withheld because the information would have the public lose confidence in the department so they could not release these. Now more then 12 months go by and I get a letter from the head of ASIC at ministry level stating he agreed with all my argument and all my resonance to the agency were correct and don’t disagree with any of my argument’s and this is the last level I can complain to and what he decided is final SO SHOULD BE PAID THE MONEY YOU WERE ENTITLED TO RECEIVE BUT WAS NOT PAID AT THE TIME THIER FOR RAISING COMPLAINT FOR RESOLUTIONS. MY DECISION IS NO! Don’t need to explain my reasons . And that’s final .
There’s two types of law in our country common and statue or legislative common for the people statue for the politicians! That’s why there’s no accountability in parliament they make the rules! NACC is a prime example another toothless tiger protecting the politicians and their mates! Prime example the old bereton report! It’s the diggers fault! Not you senior officers! Oh and we need to jail that whistleblower just in case the people hear the truth! The two major parties protect each other and it’s rotten to the core!
They have been a corruptible pack of bodysnachers that screw businesses into the ground if your a little late on your bribery payment they double your fee
ASIC employees have not only tarnished their names but also have let their family members down , friends, and fellow citizens. It's extremely short minded to think a good paying job they had was going to last forever. Mind you, the political parties need enquiries on poor performance. Standards , strong KPI's as well as safeguards to ensure no corruption influence on members as well as their families via a military surveillance . This will help create culture and confidence within an anti corruption agency. No doubt we would have thousands of troops capable of being trained to operate in a system like this as well on the upside many troops would have full time missions rather than a continuous training regime that just waits for war. Defence isn't just international it's in our backyard.
When you have the main function of a Policing/enforcing Government department is to raise money for the Government. The Governemnet sets it's budget and ASIC does not have enough money to prosecute those who commit financial problems for investors, creditors, shareholders etc Dear Senator Bragg The above amounts are the transfers from ASIC to the Federal Govt. The greatest increase was when we had a Liberal Government. Thus my question for you is ASIC there to police the Companies or raise revenue for the Government of the day. The increase over the 12 years is 244% With this huge increase in transfers to revenue why cannot ASIC investigate small liquidations. Recently I looked at a Liquidation in Victoria. What we found was that 2 days before liquidator was appointed the company settled on a property for $1.6million. This money went to a director and when questioned said it was a trust for him run under the company and nothing to do with the Company under liquidation. It brings to light this problem that it is too small for ASIC to be bothered with. A) the trust dis not have a registered ABN number B) There was no bank account in the name of the trust. C) There was not a Taxation trust number D) Many expenses for the Trust were in the company bank account. E) No Company Trust minutes were provided. F) No legal documentation trust deeds were provided. This was provided to ASIC who did nothing. All documentation was provided to ASIC. It went further in that The Directors of the Company purchased from the bank the floating registered security. Problem with this no Documentation was provided. The new charge was added to the floating charge of the director. This is a problem because if you purchas3e a floating charge just before liquidation is it legal or is the Bank giving preference so that its overdraft was paid out. The liquidator assumed this was charge was legal and all assets belonged to the holder of the floating charge. (THE DIRECTOR) The only comment we received direct from ASIC was a phone call in relation to my submissions that it was not ASIC policy to remove a Liquidator. This call was answered and taken by my wife who was not part of my investigation. Not very professional. The liquidator would not give us copies of his reports to ASIC and we had to purchases them at our cost. No proof was given and ASIC did nothing. The company also built some Units in the directors wife’s name. It was impossible for all payments and contracts to be confirmed and we found that only one contractor was unpaid for about $100,000. All other contractors were paid and we believe that the directors wife was the prime contact in the building. Yet I see that the head of ASIC is boasting about how many people ASIC is convicting for Insider trading. Beware that the ASIC leaders are priming for the senators to ask only questions they want to answer. So what is wrong with ASIC. 1) It registers liquidators. 2) It receives reports from liquidators. 3) It approves the liquidator’s decisions. 4) It allows liquidators to destroy all books and records once a company is liquidated. 5) It appears to not investigate liquidators ( ARIFF is the exception) 6) Asic does not ask for personal reports or complaints from creditors. 7) When a liquidator runs out of funds he asks the creditors for more. 8) If ASIC investigates a Director it is done via a Court at great expenses. 9) It is almost impossible to meet with ASIC legal people and from my experience we are a problem that they do not want to meet. 10) ASIc does not register TRUSTS. ( for trusts to be legal they should be registered.) Trust documentation should be available to the public. An example is Mr Dutton who announced many years ago that he had a QC’s opinion that being part of his family trust did not breach the constitution. Then why after being re-elected did he announce that he had removed himself from the trust? This is a very difficult and detailed process process. 11) Another reason to register Trusts is that many trusts run under the head company and the ATO is never told which leads to wholesale tax evasion. To keep this short ASIC appears to go after the big Guys and there are many directors who are ignored by ASIC. As one creditor to the above problem said the directors have plan A, if you find it they have plan B and C and on and on. I feel that ASIC needs to be broken up. Into A) A separate body to collect fees B) A separate body to do all investigations. C) A separate body which licences liquidators/receivers. The ATO does not register TAX Agents. D) A separate body to review Liquidations. E) A separate body to record electronically all of the documents which support liquidations We must separate ASIC to improve the public trust. I remember the days of Henry Bosch and his we want blood statement. Well they stuffed their biggest investigation and from memory the only person under his rule that was prosecuted was an ASIC employee. What I would like the committee to also investigate is why the GOVERNMENT is using ASIC to raise revenue more that helping creditors with financial losses. A 244% increase in transfers to revenue is too much when we cannot get small liquidations investigated properly. A lot goes back to the 70”s 2when a cabinet minister said we must protect the revenue of the Country. (from who?) I still have all of the documentation that I sent ASIC and also the ATO for investigation. I am prepared to provide further details. My main worry is that by raising so much money as not providing sufficient funds to ASUIC to complete its legal responsibilities we will get a class action against the Government. Below is the transfers to revenue for ASIC. 2016 876,745,000 2017 948,580,000 2018 1,013,282,000 2019 1,233,389,000 2020 1,458,835,000 2021 1,767,028,000 2022 1,901,130,000 2023 ESTIMATED 1,920,041,000 2024 ESTIMATED 1,932,545,000 2025 ESTIMATED 1,994,952,000 2026 ESTIMATED 2,073,884,000 2027 ESTIMATED 2,139,729,000 A 244% increase The Governemnt Knows my name.
What a load of political bullshit.. this is nothing new or newsbreaking .. the Government has protected their corporate mates .. are as corrupt..all of this was known for decades.. we had the Royal Commission of Banking , another farce to make you believe that they were making all involved were made accountable but it was just another cover-up .. thousands of people that fought for & lost their homes because of ASIC , the Financial & Credit Ombudsman (FOS..COSL) that were nothing but protectors for their corrupt members.. banks, lenders etc etc as were all of the Lawyers who the ones that drafted illegal mortgages etc & made them appear legal.. & the same lawyers were the ones that then repossessed your home for the lenders etc .. illegally because they were part of the fraud. In 3 years of fighting for my home, I found that everyone that was involved in this financial fraud.. that they were all there to just cover up the fraud.. are nothing but a protection racket .. my journey started with ASIC, the Financial & Credit Ombudsman where I first became aware that they were just there to protect their members & then I found that the lawyers, Courts, Judges, police, Title Office & Registrar, Real Estate who had Security at the auction of my home (with a contract drafted by the same lawyers falsely stating I was the seller after they repossessed it, threatening me to give them info so not to have to pay sales tax. .. the threats, fraud put in print in a letter, not concerned because everyone nvolved were part of the fraud.. nearly forgot to mention the The Australian Executive Trustee who did get made somewhat accountable by the Banking Royal Commission.. but not for the Mortgage Backed Securities fraud they committed aided by Gaden Lawyers & all the above mentioned .. they all should have been sentenced to death at the Banking Royal Commission but this information couldn't be allowed... wasn't allowed by the Government as it would have taken all of them down .. so .. I find this politician pathetic making out that this is breaking news.. that he thinks that the Government that has been part of this cover up for their corporate mates.. will do anything.. I learnt all of this in 3 years .. a decade ago & have the documents.. regurgitating old news .. nothing new.