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​Industry bodies’ hands tied over ‘thorn in the side of broker channel’

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Australian Broker | 30 Jan 2014, 07:29 AM Agree 0
The industry bodies have put the onus back on brokers to perform due diligence before entering any agreement after a banned trail book buyer was linked to the latest scam attempting to dupe brokers.
  • Country Broker | 30 Jan 2014, 09:03 AM Agree 0
    So its OK for ASIC to ban brokers ( rightly so) and the MFAA and FBAA to expel members , BUT when it comes to protecting brokers fro fraudsters , its sorry our hands are tied !!
  • Concerned member | 30 Jan 2014, 09:15 AM Agree 0
    Very typical of The MFAA&FBAA, practically declaring to Whittingham that he is "untouchable ".. What an absolute disgrace. Someone needs to do something, take a class action action against this fraud, he is a "thorn" in our industry and we need to get him behind bars because that is the only place he belongs!
  • Tony | 30 Jan 2014, 09:31 AM Agree 0
    So what is it that an association is meant to do? I would have a guess and say that this scumbag is not a member of any association. From memory he has been through the court sytem in Victoria. I believe he has been banned from being a director, or am I wrong there. He works on the sidelines of the industry. Both Associations put out warning regarding him. So again, what is it you want them to do. Go to his house, find him and lynch him. The main thing is in any dealings is to do your own due diligenge. If after this you make a mistake and get ripped off, you only have two people to blame. The person ripping you off, and yourself for allowing it. No association can protect you from this sort of thing.
  • grahame hale | 30 Jan 2014, 09:49 AM Agree 0
    As an industry body MFAA has a right to not only warn brokers but make submissions to the state and federal government of behalf of it's members. Governments are slow to stop fraud because it is all too hard as most of them Politians were born before computers.
    Get real MFAA and start doing something for it's members.
  • Patrick McMenamin | 30 Jan 2014, 09:50 AM Agree 0
    I am seeking all victims of Whittingham to submit whatever evidence they have, particularly lists of leads or database of former clients for which they have paid. With evidence we can get the authorities to act.

    Please send details of scams perpetrated to Common Cents Financial Services Ltd
  • Peter M | 30 Jan 2014, 10:39 AM Agree 0
    I am just wondering, does this person subscribe to our industry news. Would not surprise me one bit, and I suspect he sits their with a smirk on his face.
  • The Observer | 30 Jan 2014, 02:57 PM Agree 0
    I personally cannot see how this is a MFAA/FBAA issue - if he is a Member of either, then he should not be. We have been warned many times about this operator and you could not do more – warnings are even the best thing you can do for your children. This seems to be a law matter and if some laws have been broken, then I presume there are remedies available. If not, then we have the usual case that most laws best apply to people that respect the law and the others seem to find a way around - with the help of their lawyers. However, we should not ask anyone to take over our personal decision making process - the countries that offer this kind of “ultimate protection” have their citizens trying to flee at any cost and risk of life.
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