More Victims of the Commonwealth Bank are coming forward to tell their horrifying stories of their battles with CBA and their Mortgage Brokers.
In 2009 a Queensland Couple Wayne & Carol found out their loan documents had been a target of 'Document Tampering, forgery & fraud.'
Here is Wayne & Carlol's story and their fight for justice.
We have been conned & deceived by the COMMONWEALTH BANK AUSTRALIA (CBA) & their agents using FRAUDULENT Loan Application documents, in both 2005 and 2007.
Our Loan Application Documents have been the target of 'Document Tampering, forgery & fraud.'
Income figures were grossly inflated & many other details, including false vehicles & shares, were altered & added AFTER we had signed a couple of pages of the LAF.
This is a systemic, criminally fraudulent business practice used by the CBA (and many other banks & lenders), where they corruptly lend money using grossly falsified Loan Application Documents (that we had never seen), & conspiring with Mortgage Brokers (that we have never met), & going through Finance Companies (that we didn't know about & have never dealt with), with the sole aim of the Bank being able to take our family home.
Then the bank tries to cover it all up, refuses to supply copies of the Loan Application Documents,
- CBA employee Quote: " We can't give you copies as it would leave the bank open to prosecution."
After 3 years of trying, I have all the other documentation, including the falsified Loan Application Documents.
They were fraudulently falsified in our 2005 loan and even more seriously in our 2007 loan re-finance.
Fortunately for us they were dumb enough to send us the 1st set of grossly altered documents - by mistake!
I have also discovered that the bank (or their agent) even used FAKE Low doc declarations that they photo shopped/ cut & pasted together to get around the normal loan policies! I also have copies of these.
One of the most shocking things about this is that the Financial Ombudsman Service (FOS) -who are supposed to protect the public from illegal or unethical banking practices - has disturbingly decided that : even though the bank may have known that the documentation was false - THE BANK WAS ENTITLED TO RELY ON THAT FALSE DOCUMENTATION!
The FOS are blatantly biased in favour of the Banks. They have ignored key documentary evidence & overlooked much of the fraudulent information.
My wife and I even discussed the possibility of 2 of the FOS investigating officials being bribed, such was our level of disbelief at the way they were constantly trying to justify the Bank's actions!
At one stage, they stated that the bank would have known that the income details had been falsified as we were receiving Family Assistance so therefore could not have been earning the income stated on the loan application, and were suggesting that the Bank should enter into a settlement conference and were waiting for the Bank to respond.
The next letter we had from the ombudsman was the final decision - in favour of the bank!
Even more sinister the ombudsman also put in a clause stating that : if we accept the decision that we were to agree not to take any further action against the bank! This is how they try to protect the Banks, they are certainly not protecting the public against this fraud.
We also recently received a copy of a letter from FOS to the CBA- which was deliberately with-held from us, stating that FOS' Legal Counsel agreed that the CBA WAS GUILTY of MALADMINISTRATION!
We were actually advised by one of the FOS Investigating Case Managers who realised that important matters in the investigation were being covered up in favour of the bank, to go to the State & Federal Police to make an official complaint against them for fraud, which is what we have done.
The Australian Federal Police and the CRIMINAL INVESTIGATIONS BRANCH are now investigating both the CBA and the brokers for Criminal Fraud.
The CIB Detectives have issued warrants on the CBA trying to get the ORIGINAL documents, but the CBA have responded by stating that the original documents would have been destroyed.
The CIB Detectives have responded with the follow correspondence.
We are now at the stage where we arranged meetings with our local MP Karen Andrews, & took copies of the documents to show her. She agreed that fraud was evident & agreed that we should make a formal complaint with the police.
We also have the full support of Mr. White, of the National Federation of Independent Business.
This widespread fraud must be stopped.
It is a crime against the Commonwealth, it is a crime against all the People of Australia.
The bank executives must be held accountable for instigating this fraud & allowing the corruption to continue.
Fraud is a criminal offence, therefore they must be prosecuted to the full extent of the Law.
We have written over 50 letters to the CBA CEO Ian Narev and all of the other Directors, and we have sent Formal Claims, by registered post, to all the CBA Board of Directors individually, but they have not responded to us except to try & drag us into a long & expensive legal battle by saying: "We will only respond to you through a Lawyer."
Interestingly, they also haven't denied or rebutted our allegations of fraud,- because they know that we have the documentation, in black & white, that proves this fraud.
We must have a ROYAL COMMISSION immediately into the fraudulent activities of the banks.
Wayne & Carol Styles
Please View the follow A Current Affair video with Tracey Grimshaw of Wayne & Carols horrific experience.
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Mike Monday, 03 September 2018 04:57 Comment Link
I think the only solice that you can take from this is that people who give away their morals and ethics in pursuit of monetary never find peace. They may suffer from some form of psychosis but probably not. Instead they fill their lives with workaholism and a need to be validated by it. But the Banks are hard masters and as customers are a number so are employees. So as the buzz of closing a dealing or bringing additional capital value to the bank fades what do they have left, only themselves and the truth of what they have done and that dawning reality of their lack of self-worth. This happens all the time with sporting stars that are no longer lauded and people that think that if they leave a job, the place will crash! It wont! So the banker will have to live with their demons and the longer it goes on the more they suffer. Tragic but a lesson on being a human, its a fact.Report
Alison Monday, 06 November 2017 11:15 Comment Link
Lee , 29 May 2017 Your bank theft - Alarmingly I can identify with all your Commonwealth Bank Australia as I have endured 11 years of the same Identity theft , takeover by Third Parties inside Con Bank . As a mother with children we endured a break in by local police , so called officer of court , Agent locksmiths, removal men approx 12 against women. No Identity no name badges , physical abuse a police van, under threat of menace, stated we have force and we can lock you up. With medical and physical injuries, Now all we hold is fraud papers impersonating this & inside trading in The CBA Con Bank and a home these Fraudsters have taken over. Told to call a number which was another third party Probe Group , and now seen truck loads of other third parties dealing inside all over my p& Private home and financials. Cba have admitted to providing my info to other third parties but Never have I sighted a Manager or Representative from the bank to fix it or return my home back into our sole name. If the banks don't act or fix it , the asic don't act or fix it, the governance bodies like FOS don't act or fix it, how do you get your own home and lifesaving a back , our home? I would appreciate any feedback and urgent assistance.Report
Barb Sunday, 22 October 2017 06:16 Comment Link
My husband and I bought an investment property through CBa in 2014, we signed our loan contract and locked in on 5 years fixed interest and principal repayments. Within a few weeks we realised that the CBA had actually changed our repayments to interest only and Locke sit in for 7years. Three years later, we have it in writing from the CBA admitting that they are at fault. Offered $4000 to fix it and shut us up and never mention again. Stick your $4000.... FOS and the Ombudsman are in on it, they back the banks and dismissed the letter from the CBA admitting their stuff up...how is this possible?Report
Spoke to Maurice Blackburn lawyers...useless, fight for fair??? Got told it would cost too much to take on the bank and wouldn't be worth their while....where do we stand? Where's the help and the legal people to fight for us? What happened to consumer rights?
SHAME on you CBA!!! That's not Aussie nor is it professional or legal what you have done.
WARNING to all....check your documents and keep copies for the life of your loans. DONT trust the CBA....EVER!!!
Lee Monday, 29 May 2017 03:52 Comment Link
2001 Corporations act has somehow taken over my life from placing arrears In my name whilst I applied for a Keystart First Home Buyers Commonwealth Home Loan in 2004 and after selling that 17th of October 2005 I have recently last week the 24th of May2017 had 5 people claiming to be a Sheriff, Real estate agent, Lock Smith and 2 police officers forced me out my home after refusing to show me any identification all 5 people in grinded through my locks on my outside gate and roller doors, then broke my front security door and barged through my front door while I rang 000 twice to ask for help because I was being screamed at by the police officers who kicked in my bedroom door as I am single with a chihuahua who they also mentioned calling in the ranger as my dog Matty didn't like these people and he was trying to protect me as I was extremely scared and upset but after ringing the police emergency line I was not being listened to by the local police, supreme courts who wouldn't lodge my Suspension order and Affidavit even after 3 times trying to apply for the suspension order that was to ask for a deferment on any further Harrassment as currently awaiting the police to investigate the fraud that's almost continued for 17years of my life stealing all my Superfunds under income protection for loans I didn't apply for,Report
Ive had all my compensations stolen by a 3rd party authority who controls my finances since prior to purchasing this current home loan the COMMONWEALTH bank had placed me on a 3rd party banking home loan that has without any right physically forced me out my home and onto the street but I have managed to gain access legally back into my home after nothing more than a miracle I am now going to charge the Commonwealth bank, Local police and Probe Property Group as well as the sheriff & anyone else involved in Aggravated burglary, grevious bodily harm and home invasion for the unnecessary force and all I was asking for was ID as I didn't believe these people were from the Sheriffs office an I will be taking this 17year long identity theft due to the Predator homeloan the banks have ruined my life leaving me unable to trust anyone right now I still to report this criminal behaviour to the police as I am still shaken from the whole week that's left me broke with nothing left as all my Insurances have had multiple claims put through without my knowledge and if I can't find a lawyer I will be representing myself, I refuse to be bullied by a bunch of Banksters and thief's who think this is OK to treat a 19year old girl who just wanted her own home.
I RECEIVED Total Permanent Disability March 2014 and once again I had most of my money stolen without anything left I would appreciate any help you might have as I am disappointed in the lack of help offered so far it is certainly the worst treatment I have had to endure in my whole life they must be stopped
Robert J Sunday, 23 April 2017 10:44 Comment Link
SOS! I am desparated!!! Who can recommend experienced good lawyers to fight for Justice and Bank Fraud? It's emergency!Report
1. My bank withheld my investment fund by a third party obviously put in error.
2. My bank refused to recovery request fund and closed this loan facility turning this full right accessable fund into a frozen secured money into mortgage in the effect of lowering the potential risk of the global finacial crisis for the panic of insufficient security in case of market value drop.
3. It has completely destroyed my earning capacity from this fund with previous annual taxable income $440K shown in ATO tax return.
4. The bank fraudulently advised me to increase the second loan with damaged financial position from before withholding my investment fund with $440K p.a. to forecasted zero income being damaged position clearly signed in the latest Statement of Financial Position.
5. The bank gave me false hope and offered increasing $140K without actually releasing any cent depite of my appliaction. They only used this fund locking in the loan facility for their comfortable deduction of repayments.
6. Now they summon me for repossession of all my properties as being default.
7. They destroyed my earning capacity and family, leaving me to depending on social welfare and abusing tax payers' money, preventing my contribution to tax, robbing my houses.
8. An experienced good lawyer is urgently required to write a letter to Litigation Fund company with comment "good case and damage calim over $1million".
9. I will appreciate and reward anyone who is able to help me find suitable lawyers.
Michael McDonald Monday, 26 December 2016 22:58 Comment Link
I have the Same problem as Sarah "She said someone must have added in income in order for me to get this loan, as otherwise they would never have granted it to me.Report
This was a Commonwealth Bank Employee that said this "They should never have granted you that loan."and now i have problems paying the mortgage a valuer came in and has valued the property nearly 100000 less than I what I payed for it , The house has building faults and the insurance company wont insure the building has they say its a innerant fault was already there apparently the real estate singed of the mortgage paperwork as she was a JP which the lady at the bank was was not allowed the deposit was part first homeowners grant and a gift also not allowed so in there words she didnt know how i got the mortgage has if i went to get it now on those details i it would not be allowed . The mortgage was 225000 now the the building as it doesn't feel like a home is only valued at 13000 and i still owe 182000 on it and in arrears of 3200 looks like i will lose it and end bankrupt as the bank wont come to to the table , they had all the paperwork from geologists and the insurance company after the insurance company said they would not pay out and would cost over 100000 to rebuild the property life sucks at the moment the stress is unbelievable its affecting myself and my partner
Sarah Thursday, 02 July 2015 20:08 Comment Link
Well I am not sure if I fit into this picture somehow, but I am struggling to pay off a loan the Commonwealth Bank granted me in 2013.Report
They only asked for 3 months of payslips, i was a payslip short and had to go back 2 week later or something, but i had no previous work history except for this part time job as a waitress.
I tried to re-finance my loan about 8 months later when my car broke down.
THe bank initially offered me $12,000, while I was still on centrelink. I only needed 10,000 at the time and it was fixed rate. Tough i thought I agree to 3 years, it ended up being 5 years.
I tried to change it to non-fixed to I could redraw, but was unsuccessful. Instead I was advised by phone banking to go to the branch and get an overdraw account.
I went in to get it started and the lady disapproved my initial ask, as i didn't have the fortnightly income to re-pay it.
She reluctantly granted me $100 overdraft account, and looking confused she was going through my financial records since the loan was granted.
She said someone must have added in income in order for me to get this loan, as otherwise they would never have granted it to me.
This was a Commonwealth Bank Employee that said this "They should never have granted you that loan."
This was obvious to her after a 20 minute consultation that someone had lied on the application, and it wasn't me!.
I am now pursuing it through the ombudsman, not really sure what will happen.
I have already paid half the loan off, and am not sure where I stand now since I lost my job and my housemate ran off leaving me incapable of making repayments due to increased rent and $1500 of bills he dumped me with.
I have fees due to this loan coming out all over the place, I barely understand my statement anymore.
some fees are up to $30.
bustabank1 Thursday, 24 July 2014 00:49 Comment Link
The CBA should be prosecuted for Criminal Misconduct! CEO Ian Narev is in fact under both the Corporations Act 2001, The NCCC 2006, & The Banking & Financial Services Act 2008, legally liable should criminal issues be found to have occurred. My advice is to look at a personal Class Action against him or to refer any serious issues including documentation to solicitors and the AFP. Contact the Senate committees within the Federal Government or the Federal Finance Minister Mathias Corman in Canberra & raise the matter with him. New government regulations will eventually prevent this from happening, but until they come in, these are possibly the best options at the moment.Report
Diane and Max Lock Thursday, 10 July 2014 10:18 Comment Link
It's not just about corruption in the CBA financial planning sector, what about the corrupt, and fraudulent behaviour when CBA took over the bankrupt Bankwest, and sent hundreds of people to the wall, what about that senate enquiry in 2012, and the bad behaviour of ASIC, Bankwest, plus receivers,some of which bought some of these properties for a song, all because CBA didn't want these Bankwest customers, very bad culture in CBA/Bankwest shame CBA shame Bankwest, shame ASICReport