Letter Of Demand

Letter Of Demand  - Aussie Big Four Bank ex-CEOs

Attention - Cameron Clyne (NAB); Ian Narev (CBA); Mike Smith (ANZ); Gail Kelly (Westpac)

The Hayne Royal Commission has identified that very serious criminal activity was committed by staff responsible to you at your respective banks - particularly of concern are the actions of senior staff and directors while you were CEO. Responsibility for multiple breaches of the criminal code, credit codes and the banking code of conduct rests with you. These breaches have enabled you to profit greatly from disproportionate pay packets and various forms of bonuses. Most informed people would consider that financial gains made under these circumstances are in actual fact a consequence of control fraud.

Your actions while CEO have resulted in financial abuse to many of your clients. In addition your business practices have directly caused financial losses to many people who are as yet still unaware of the damages inflicted. Sadly your business methods have also resulted in family breakdown, domestic violence, substance abuse, homelessness, business failures and in very tragic cases – suicide.

Your putting profit ahead of all else has contributed greatly to the corruption of the culture of the entire financial system.

To comply with this letter of demand you must – by close of business Monday the 7th of May -

1. Deposit all keys to you primary residence at your local Police Station or the nearest Bank Reform Now office.

2. Deposit the keys to your three most expensive investment properties at your local Police Station or the nearest Bank Reform Now office.

3. Deposit your passport at your local Police Station or the nearest Bank Reform Now Office. You must not travel more than 50 km from your local Police Station.

In addition as of the date you received this letter -

4. You are not to communicate with each other or any current or previous employees of your banks until you and all related parties have been interrogated.

5. You are not to communicate with any current or previous employees of ASIC, APRA, FOS or any other regulatory agency until you and all related parties have been interrogated.

Warning-

6. It is very likely that you will be required to place a sizeable portion of the assets you have accumulated during your time as CEO into a victim compensation fund. Do not attempt to hide your assets in any way. You are forbidden from using dubious company structures or trusts; phony identities; or helpful relatives, lawyers, accountants and politicians to minimise your liabilities. If such machinations already exist in the Cayman Islands for example you must repatriate the assets to Australia. Failure to do so may lead to bankruptcy and incarceration. In addition you will be barred from being able to own, operate or direct any business in Australia for 25 years.

The Banking Royal Commission, Police, APRA and ASIC should be in contact very soon seeking to arrange a suitable time for enhanced interrogation. In addition Bank Reform Now has a list of victims of your banks’ predatory practices. Their cases are the thin edge of the precedent setting wedge you and your banks have been trying to avoid for decades.

Failure to comply with this letter of demand will impact on your capacity to enjoy a fair hearing.

Please be aware that the crimes that have been identified do carry harsh penalties including significant jail terms as recently emphasised by Treasurer Scott Morrison and Prime Minister Malcolm Turnbull.

The court tends to look more favourably on defendants if they co-operate with the investigation, show remorse for their actions and pay full compensation to their victims.

We hope you have a happy day.

Yours faithfully,

The helpful team

Banker Relations Department
Bank Reform Now

__________________________

Dear reader,

A little bit of parody goes a long way. While we can all have a laugh about this joke at the  expense of the poor ex-CEOs we will point out that these people should and will pay for their activities. Crimes have been committed, laws have been ignored, ill-gotten profits have been made.

Just two of the NAB victims I am assisting would right now have holdings far in excess of Cameron Clyne's total wealth - if the bank had not set them up and stripped them off their assets. In other words Clyne couldn't afford to compensate them even if every cent he owned was taken from him. Therefore it is not enough to have a compensation fund filled with clawed back assets from ex-CEOs. Other upper echelon bankers and directors must contribute to the fund as will the banks' shareholders by reduced dividends for a certain length of time.

These four ex-CEOs must be punished for their actions but that is not enough. BRN wants the past four CEOs of each major bank, or their estates, to pay up. In the current climate there is no excuse for letting these characters off the hook. Retirement is not a defence. Riding off quietly with the loot should never have been an option. Time to make amends.

We are putting the pressure on the banks and the government as best we can but we need your help. Like our Facebook page and participate over there vigorously every day. Kick a few dollars into out kitty to help fund expansion of our campaign  - link below. And most importantly - tell everyone about the Big Bank Bang CBA Boycott - no new loans with CBA for at least 12 months. We must prove to the government and banks that we have the power to force reforms onto them. We're not copping another whitewash.

I addition please email the Banking Royal Commission and tell them that you want to see the ex-CEOs called in for interrogation AND that you want Commissioner Hayne to ask the government for enhanced powers, expanded terms and an extended inquiry. A compensation fund must be on the agenda and it must begin to be filled with clawed back assets from the CEOs.  Email today >> FSRCenquiries@royalcommission.gov.au

Speaking of a whitewash - keep your eyes peeled on Budget night - BRN has a gut wrenching analysis of the budget  - visit us on Facebook. Yes - we already have a very good idea about what's in it - key targets have been leaked - it's deja voodoo.