05 November 2015
Land banking Investors fight back with a victory over ASIC and Fairfax Media’s agenda to cause them unnecessary losses
Investors in a Bendigo land banking project have sent a clear message to the ASIC and Fairfax Media, asking them to back off and stop deliberately trying to destroy their investments to deceive the government in the process.
Option Holders in Hermitage Project voted against liquidation on Wednesday Oct 21st in the Melbourne Federal Court. The project can now go ahead and option holders can profit as planned.
ASIC has reportedly been colluding with Fairfax Media to try and destroy the project and cause investor losses.
Fairfax has been running deceptive articles claiming that investors had lost $100 million or up to three times that amount, thus suggesting that land banking is effectively a scam.
Yet, not a single investor had lost money and all stand to make windfall gains from their savvy investment.
ASIC appointed Provisional Liquidators to Midland Hwy in an attempt to stop the project from proceeding after the landowner passed away.
Land banking investors appear fed up with the ASIC. Many of the investors now claim that the ASIC is corrupt to the core and its sole agenda is to see them lose their entire investments as the corporate regulator allegedly continues to abuse the law by sabotaging their land banking investments.
It has also now become clear to many investors and observers that ASIC’s sole agenda is to abuse its power to serve a spiteful and aggressive vendetta against 21st Century Group’s CEO, Jamie McIntyre for being a whistle blower of ASIC’s misconduct. Moreover, many also believe ASIC is politically motivated in its actions.
Prior to the liquidation, investors aggressively lashed out against ASIC for deliberately trying to create losses. A large number of option holders wrote to the corporate watchdog stating that they were aware of the investment risks but still wanted to go ahead with it.
21st Century Group provided offers that would have seen zero loses, however, ASIC not only have continually refused but have actually gone on a rampage to sabotage some of the projects from not allowing them to settle to target another developer who offered to acquire two of the biggest sites and license them. Thus option holders would have been either refunded or allowed to keep their options in place.