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Economist John Adams has released a report questioning the way in which the Australian Securities and Investments Commission (ASIC) has used their powers to investigate and prosecute ‘white collar’ crime.

Five years ago 2% of suspected offences reported to ASIC were investigated. In 2020 this is down to just 0.7%

Only 1 in 50 of these investigations result in a prosecution.

Ninety-one percent of reports by corporate whistleblowers resulted in no action being taken.

Senator Roberts said:

“The effectiveness of Australian Securities and Investments Commission has already been questioned following the failure to prevent the Sterling First managed investment fund scandal in Western Australia.”

“ASIC provided incorrect guidance on the security of Sterling First to potential investors. Many investors lost their life savings as a result.”

“I note Liberal Senator Bragg and Labor Senator Pratt have both confirmed the need for an inquiry into the performance of ASIC.”

“I join in calling for an inquiry and look forward to a start date before the end of the year.”

4 replies
  1. kiwi
    kiwi says:

    A lot of this corruption throughout society relates to all aspects of life not just govt. but also corporate
    and education state services etc, in short corruption is rife its everywhere you look.
    Honesty is not transparent, the freemasons have infiltrated all aspects of govt. this is where any inquiry
    needs to start root out all masons in govt. and look at decisions these people make, these people move
    as a block which is how they can force these draconian measures re covid etc.
    Covid was a media driven propaganda campaign from the start, no one died of covid, as every other
    year some people died, mostly elderly or sick they died of the FLU, no credible scientist has shown the
    isolated purified sample of the “covid virus” , courts have asked for these samples to settle cases.
    The “virus” does not exist, you were lied to, the MSM for two years terrorized the publc into accept-
    ing the tyranny of your elected leaders and their overlords at the WHO, UN, WEF etc etc
    The “pandemic” is a ongoing power grab by the globalists to bring in their draconian NWO, new world
    order aka one world government, where all of us become enslaved with digital currency “CBDC” and
    digital passports, it will be the end of freedom, when tyrants rule there is always mass murder.

  2. john raymond nolan
    john raymond nolan says:

    Unfortunately our society has been built on corruption from day one, at every level, whilst those who sit in judgement are equally corrupt as those accused.
    There are alternate economical principles which could be used to replace this evil, criminal Debit banking system, which would get us all out of debt, globally, as a nation and personal debt, basically over night.
    Establishment of a PEOPLE’S Bank, which is what the Commonwealth bank was originally, could eliminate poverty.
    By introduction of a CREDIT banking concept, we could provide all infrastructure, schools, dams, hospitals, at no cost, but how can this information get through to the public when those who own the banks own the media, and they, the banksters, are anti-economic change. What economic principles are One Nation working on, do yo[u actually have an alternate economic system which could get our nation out of debt, to the banksters?,

  3. Christopher
    Christopher says:

    100% ASIC is not doing it’s job, it’s due diligence this is serious stuff needs to be held accountable.
    An open inquiry is needed.

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