'THE GROWTH WAS FUELLED BY THE GREED OF THE ADVISERS' -
IFA Martin Terpilowski to the South China Morning Post
If you think your financial adviser was tricked too when he sold you your policies in LM then read this and you may have to think again.
The website 'Rape of Hong Kong' which is dedicated to exposing investor frauds has published a letter Martin Terpilowski sent to LM boss Peter Drake after Drake put up the website we highlighted a few days ago.
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What Terpilowski, who himself had clients in LM but tried for three years to get them out, describes is sickening to the core.
What happened with the Australian LM funds should have been spotted easily by a normal intelligent person - but greedy financial advisers were locked into 9 per cent indemnified commission.
This may make your heart sink. But what on earth are the authorities doing. Lots of accountants are charging high fees to find out what went wrong and what is left. But not a policeman in site.
So says Terpilowksi who promises more
Go here
*Venier - Martin Venier - LM salesman
WHEN AN INVESTMENT FUND GOES BAD - SCMP - Benjamin Robertson
Protest the fraudulent products
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IFA Martin Terpilowski to the South China Morning Post
If you think your financial adviser was tricked too when he sold you your policies in LM then read this and you may have to think again.
The website 'Rape of Hong Kong' which is dedicated to exposing investor frauds has published a letter Martin Terpilowski sent to LM boss Peter Drake after Drake put up the website we highlighted a few days ago.
What Terpilowski, who himself had clients in LM but tried for three years to get them out, describes is sickening to the core.What happened with the Australian LM funds should have been spotted easily by a normal intelligent person - but greedy financial advisers were locked into 9 per cent indemnified commission.
This may make your heart sink. But what on earth are the authorities doing. Lots of accountants are charging high fees to find out what went wrong and what is left. But not a policeman in site.
"All I got was smart answers from you about not understanding the asset class as well as some megalomaniac comments. Both you and Venier seemed actually angry with me for meddling in your ‘great’ business model, as you ran around Asia cozying up to Advisers..
"Life companies wanted to protect their market share so ignored and the advisers bought nicer cars and had better holidays and actually showed off about this on social media websites (many of those also have megalomaniac tendencies) - The whole thing was sick and you were ALL party to this.
"You all worked in collusion, so clients never knew the reality when investing. I wish I had done more now, but I will not listen to the excuses from any of you people. I have reams of emails to you all, which I will publish and show your formally ‘matey relationship’ with advisers and life companies and how I was just the trouble maker then" -
So says Terpilowksi who promises more
Go here
*Venier - Martin Venier - LM salesman
WHEN AN INVESTMENT FUND GOES BAD - SCMP - Benjamin Robertson
Protest the fraudulent products