Because after losing the case against Andrew Forrest of Fortescue Metals (which they should never have conducted in the first place), they realised it’s hard to win cases without investor losses. So, ASIC figured they could simply go after easy targets, shut down investor projects of those they don’t like or critics of ASIC and cause major losses to investors deliberately to then frame the investor promoter for the losses and win valuable PR fooling the public that they have done something useful, even though they caused deliberate losses simply to make their report card look good and hide their gross incompetence and corruption.
“That’s pretty good training for ASIC officers to add to their resume to get a job with the banks and continue to manage losing investors even more money with the dodgy financial planning practices they oversee and allow.
“And if the public were to ever find out the full extent of corrupt and dodgy culture inside ASIC, heads would roll. Can’t see how they are going to keep that a secret forever. Why not have a Royal Commission investigate the ASIC so they get exposed, punished and held accountable for the consequences of their actions that have seen some investors take their lives because of the financial destruction ASIC has deliberately caused out of sheer jealousy and envy?
“Dodgy ASIC officers should be named and shamed and their houses taken from them to repay investors they screwed over.
“Is it too hard to expect Australia to have an honest, transparent and competent regulator? Clearly it is”, he said.