ASIC involved in blatant corporate sabotage as it stoops to new lows of misconduct

ASIC involved in blatant corporate sabotage as it stoops to new lows of misconduct

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How low can ASIC go, asks one investor, who is a victim of ASIC’s attempts at corporate sabotage to destroy the 21st Century Group to limit or stop its funding for 21st Century Australia Party in the 2016 Federal Election. 

ASIC is trying to appoint provisional liquidators to 21st Century Groups’ land projects after Fairfax Media was exposed recently for planting false stories in The Age and Sydney Morning Herald claiming that $100 million or up to three times that amount had been lost in 21st Century land banking projects.

ASIC used these media articles to get budgetary approval to launch a massive taxpayer funded investigation based on fictitious and planted stories.

Investigations proved that not only had no losses occurred, but also only $5.5 millions in options were ever sold in 21st Century owned land projects legally. Instead of ASIC ending the investigation, it is now attempting to deliberately cause $5.5 million in losses to justify the expensive investigation it has launched on the basis of false media articles.

It’s also been alleged that Fairfax journalists and certain ASIC employees discussed the planting of these false stories to be able to get ASIC taxpayer funding in order to go after McIntyre and the 21st Century Group. Another informant, who has asked not to be named stated last year that at a party in a Melbourne suburb, an ASIC employee harassed a 21st Century client, mocked him and boasted how they were out to get McIntyre and want him taken down. This is in addition to male Fairfax Media journalists verbally harassing female staff at the Australian National Review.

Akin to many others, along with Senators McIntyre has long been an outspoken critic of ASIC’s gross incompetence and has been calling for a government audit into the ASIC and ideally a Royal Commission.

It has also been alleged that ASIC officer Andrew John Price who is believed to have been flown out to Australia at taxpayer expense to head up the investigation has been involved in misconduct within the ASIC. A NAB employee purported that ASIC asked them to pull loans on land projects that were about to settle and not lend monies to the 21st Century Group- particularly its Wallan project, as it’s involved in a $50 million fraud, despite the matter having nothing to do with fraud. It’s believed that ASIC has been contacting multiple lenders making false allegations to try and stop them from funding 21st Century Projects. “Is this what taxpayers’ money should be used for- to fund a vendetta against McIntyre for being a whistleblower about corruption in the ASIC”, asked one investor.

Note: ANR is not stating that ASIC officer Andrew John Price is a corrupt ASIC officer involved in deliberate misconduct. However, serious allegations have been raised about him and others inside the ASIC. ANR is simply stating that such allegations warrant an independent investigation into him, other suspect ASIC officers in this matter and the ASIC as a whole, as this is not an isolated case of abuse of power by the corporate regulator.

Such blatant and deceptive conduct by the ASIC to deliberately sabotage a group of companies and attempt to cause investor losses, which it’s meant to protect is beyond belief, said a company spokesperson.

It’s been alleged that ASIC have been trying to mislead investors and the public and also cause investors unnecessary concern. Nevertheless, many investors are furious with ASIC for trying to cause them $5.5m in losses. They have been sending emails demanding ASIC to cease their actions.

This prompted ASIC to rush a poorly written response (published on its website), where it tried to justify its actions. However, when their actions where scrutinised by a fact checker, it simply provided evidence of ASIC operating deliberately against investors’ interests. The matter heads to the Federal Court in Melbourne on 8th October, where the ASIC is trying to cause $5.5 million in losses by appointing liquidators against investors’ demands and prevent the 21st Century Group from refunding option holders and selling two of its land projects.

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