http://www.asic.gov.au/asic/asic.nsf/byHeadline/13-061MR%20ASIC%20warns%20consumers%20about%20Global%20Capital%20Wealth?opendocument

http://www.computerworld.com.au/article/434808/australian_crime_commission_sends_fraud_warning_letter/

It is hard to keep up with the name changes, so the best advice is: If you are suddenly and unexpectedly telephoned by somebody trying to sell you a financial product, you should:
hang up the telephone.

They put you between a rock and a hard place , they make it as difficult as possible, every thing in their power to send you to the wall. In my case the assets they hold on a first mortgage are 4 times the loan amount ,they wanted valuations which would cost at least $7,000, which I did not have . One of the properties is to be leased to a multi national tenant, yet the new business banker (2nd one) said that value of property in that area had fallen. Well if they have fallen ,I did not cause it, I have maintained the building and found an excellent new tenant, commercial property values are to a very large degree based on the rent/ income generated by the property.
I have been employed in a business to business area where I have come across at least 10 people who have been sent to the wall or had it made very hard by the Nab and I believe there are hundreds out there in the small area that I am in that have been treated ambysmally. They give you an umbrella and when it commences to rain take it back.
I believe they are evil, greed is the purest form of evil.I believe business bankers are on a commission on extra income generated .They hate bad publicity and I for one would be prepared to protest out side their front door.I and many others have worked all their lives to get what little they have and they can take it away with the stroke of a pen,do they enjoy exercising power over customers , is it their 5 minutes of glory?

They work on the basis that you are only a small fry, there is strength in numbers, the time for talk has elapsed, action is required . They will continue to ruin people’s lives, they do not give a stuff, it is like water off a ducks back ,it just runs off.

I live for the day , when I move banks, they treat you like dirt.

Question:The Hon. NICK XENOPHON:I seek leave to make a brief explanation before asking the Minister for Aboriginal Affairs and Reconciliation, representing the Minister for Consumer Affairs, questions in relation to Nova Investment Solutions Pty Ltd.

The Hon. NICK XENOPHON: I have been contacted by Neil and Elizabeth Hudson, a South Australian couple who were telephoned by telemarketers in mid-2004 on behalf of Nova Investment Solutions Pty Ltd, a company whose head office is based in Brisbane, Queensland. After expressing interest in the investment scheme operated by the company, Mr and Mrs Hudson received a glossy brochure referring to the massive returns of the `Logic 200 System’ with a number of benefits including `proven figures’.

The scheme is, in fact, a horse racing tipping service based on a software program. The brochure goes on to state, `If you want to gamble, this is definitely not for you.’ It also boldly states, `If instructions are followed, the rewards are there for the taking.’ The Hudsons were also told that they were specially selected for this program and there were only two vacancies left to join the program nationally. As a result of representations both orally and in writing and a guarantee given by a company representative about the income they would receive from such a scheme, namely, that they would earn a $10 000 profit over eight months, the Hudsons parted with $3 000, their long saved for holiday money, as a downpayment on the program. After eight months in the scheme, not only did the Hudsons fail to earn the promised $10 000 but the $3 000 they invested was, in effect, worth*less.

The Hudsons have been referred by OCBA in South Australia to the equivalent Queensland office, notwithstand*ing independent legal advice I have received from a commer*cial law barrister that the representations were made in South Australia as they were received and acted upon here. The Office of Consumer and Business Affairs web site provides a list of examples of such schemes, labelling them `scams’ but does not indicate what if any action has been taken against scam operators or any action to ban such schemes. My questions are:

1. What steps have been taken to clamp down on such schemes, given the warnings on the OCBA web site?

2. Why is there no warning on the OCBA web site about the company in question?

3. How many complaints has OCBA received in the past three years about these schemes and what, in general terms, were the steps taken?

4. Does the minister concede that OCBA has the jurisdic*tion to deal with such matters on behalf of South Australians stung by such schemes and would it be more appropriate for OCBA to take up the fight for South Australians ripped off by such schemes rather than referring them off to an interstate office?

5. Has the minister considered making a formal complaint to ASIC over possible breaches of Corporations Law by the company and, in particular, whether there ought to have been a prospectus with respect to the offer made?

Answer:The Hon. T.G. ROBERTS (Minister for Aboriginal Affairs and Reconciliation): It sounds to me like a pirating scheme that needs to be investigated. Bearing in mind that speaking like a pirate was two days ago, I am a little bit late. It is an important question. Scams like these are drawn up and operate generally out of either a Gold Coast address or a Brisbane address, and it is difficult for state authorities to track them down but, with the use of the internet and complementary legislation, efforts are being made to try to keep those scams from reappearing periodically, which is generally what they do. The pressure gets hot, they go to ground and then they appear again. I will refer that important question to the Minister for Consumer Affairs in another place and bring back a reply.

So maybe we should contact Nick Xenophon who is currently a federal govt senator and advise him of the current scams mentioned on this qohel website. Here’s the weblink for Nick Xenophon contact page: http://www.nickxenophon.com.au/contact

I cannot believe that this company can remain doing what it’s doing after reading these posts and other articles on-line. Preying on elderly people at their most vulnerable time has to be the lowest anyone can go and I hope that the people who have my dad’s hard earned money find peace and happiness as they spend it – although karma generally prevails – for that is how my dad would have spent HIS money. Isn’t it about time the media exposes this company so that more innocent people can be saved from these people?

Thankyou
Tonia

Read more: http://www.smh.com.au/business/sun-setting-on-fraud-capital-of-australia-20130329-2gz30.html#ixzz2PpqSWUTT

Has anybody heard of or had dealings with IGS Investments?