I am not married and have worked as a nurse for 30 years and a trusted couple got me invested in LM.
I new in Feb 2011 that there was a problem because LM would not redeem my funds and no time frame
I lost $200,000 and I won’t retire
Unknown author (via a comment)
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Your comments are like so many of us, if your monies was due back in Feb 2011 then it make me and many more people like ourself’s feel sick that the Australia ASIC had not done anything to protect foreign investers.
I was informed like yourself about this sad situation on the 19th March 4 days before I was about to be a pensioner.
We have always believed in the saying what goes around comes around, but the people that stole our monies will still have to live with the fact that they are personal to blame for so many peoples life’s being destroyed, that is something I would not like to have on my shoulders. I did not invest till July 2011, and that was from a Financial Expert, but they got there commission I’m sure.
Thanks Adrain,
My investment was over $200,000 in LM Performance Fund divided into 3 separate funds with redemption due
dates Feb 2011,Feb 2012,June 2011.
I started getting suspicious when I filled out Redemption orders and I recieved no money.
LM said that they could not give me a time frame for
redemptions but they are still paying interest.
I did contact a lawyer and the police with no success.
I finally placed a dispute with the ASIC in March 2012
for not providing a time frame for redemption.
LM replied that I might get my redemption in 6 to 9
months. So, I contacted LM in NOv 2012 and of course
did not receive my redemption.
Its been a nightmare since Feb 2011 and I would like
to know if other people were able to redeem their
money and when did they filed their redemption claims.
Thanks,
Aggrieved Investor #421.
Stories abound around the world about investing into LM funds with the understanding that it was a conservative, low-risk investment. However, the evidence strongly suggests that it was actually high-risk, and further that Financial Advisors did not disclose details about the fund that were red flags.
If you would like to connect with each other, please share your story with us via email. Providing us with your contact details can enable us to pursue collective action and understandings.
If desired, with your expressed permission, we can publish your story here.
Your comments are like so many of us, if your monies was due back in Feb 2011 then it make me and many more people like ourself’s feel sick that the Australia ASIC had not done anything to protect foreign investers.
I was informed like yourself about this sad situation on the 19th March 4 days before I was about to be a pensioner.
We have always believed in the saying what goes around comes around, but the people that stole our monies will still have to live with the fact that they are personal to blame for so many peoples life’s being destroyed, that is something I would not like to have on my shoulders. I did not invest till July 2011, and that was from a Financial Expert, but they got there commission I’m sure.
Thanks Adrain,
My investment was over $200,000 in LM Performance Fund divided into 3 separate funds with redemption due
dates Feb 2011,Feb 2012,June 2011.
I started getting suspicious when I filled out Redemption orders and I recieved no money.
LM said that they could not give me a time frame for
redemptions but they are still paying interest.
I did contact a lawyer and the police with no success.
I finally placed a dispute with the ASIC in March 2012
for not providing a time frame for redemption.
LM replied that I might get my redemption in 6 to 9
months. So, I contacted LM in NOv 2012 and of course
did not receive my redemption.
Its been a nightmare since Feb 2011 and I would like
to know if other people were able to redeem their
money and when did they filed their redemption claims.
Thanks,
Aggrieved Investor #421.