Australian Shareholder Centre

[Junior]

http://www.theage.com.au/business/markets/chasing-the-churners-is-a-challenge-20150906-gjg9nr.html

Since that introduction, a number of victims have touched base. Their stories are too numerous to detail in this space, and many have been told on Aussie Stock Forums (ASF).

Alas, ASF is now fighting a defamation action from the Centre in the Queensland Supreme Court.
"Their business model is almost the same in every instance," said a contact from ASF.

"Hire professional telemarketers to cold-call those who don't have a clue about the market, charge an up-front fee, then sign them up with an affiliated broker and take a big cut of the brokerage on each trade."

Aussie Stock Forums (ASF) is an online venue for chatting about the sharemarket. It is also where victims share their tales of woe.

It is an indictment on free speech in this country, and on the defamation laws that people can be prosecuted for venting their frustrations and warning others about boiler rooms.

The Australian Shareholder Centre is by no means alone. There are many others who carry on with impunity churning unsuspecting clients, and some use the defamation laws to muzzle debate.

"The industry needs a massive shake-up but nobody seems to care," said the ASF contact.

This is terrible....I understand perhaps no one can talk about any specifics of the case. But what a shocking attack on free speech...and the ability to honestly review and discuss a service/product.

 

[tech/a]

Its pretty rare that you get glowing reports from successful participants
in educational programs.
They seem to be big on theory and small on delivery.

Seriously if they were that good their Happy customers would be
a roaring chorus of defence.
Debate would be accolades and Advocates!

Doesn't seem like good business practice to me taking free speech to the courts!

 

[Junior]

I hope this isn't costing ASF much in $$ terms. I'm sure members will be happy to throw in a few $$$ if that is the case.

 

[Joe Blow]

No doubt some of you have read today's article in the Sydney Morning Herald by Michael West about Australian Shareholder Centre.

Suffice it to say, proceedings are ongoing in the Queensland Supreme Court and unfortunately, on advice from my lawyer, I am unable comment on any specifics at this stage. Needless to say, it has consumed a considerable amount of time, energy and financial resources.

Those interested in making a contribution towards supporting free speech here at Aussie Stock Forums can deposit donations into the following account:

Account Name: ASF Legal Defence Fund
BSB: 638-010
Account Number: 10787054

All donations, regardless of how small, are greatly appreciated and will be put to good use. Thanks!

 

[shouldaindex]

Wow, I'm sorry to hear about this.

I've only joined ASF for a few months and found it to be the best ASX stock forum by far.

 

[notting]

Delusional to be taking it to the actual courts.
They must have swallowed their own pig swill.

If I were you I'd be tracking down some terrible results and ringing the likes of Current Affair and mainstream media to ramp up the megaphone screaming of the losses that poor ignorant souls have incurred through participating in Australian Shareholder Centre's investment schemes.

 

[notting]

Here's a place where you may find some willing testimonials.
http://www.productreview.com.au/p/australian-shareholder-centre.html

And how could they establish any damages from any one site, given the interconnectectedness of social media? They could only establish libel if a person made false claims about how much they lost.

 

[Faramir]

I despise companies like Australian Shareholder Centre or Australian Investor Centre.

There should be enough victims out there to start up a class action against them.