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Opes Prime Stockbroking, System Status / General Discussion
post Posted: Jan 13 2010, 10:07 AM
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In Reply To: bermuda's post @ Jan 12 2010, 07:12 PM

Yes bermuda many were hurt directly and indirectly they should have an example made of them and get the max penalty possible but what is most annoying is ANZ walks away with nothing.

post Posted: Jan 12 2010, 07:12 PM
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In Reply To: sirob's post @ Jan 12 2010, 02:50 PM

I read that article and it said the 3 guys could get up to 5 years in the slammer. I reckon they deserve it. There have been many people whose lives have been wrecked because of these sharks. Some of them used to post here.

Diana, what sentence would you have recommended? Has a sentence been made? Let's hope they get the maximum.

post Posted: Jan 12 2010, 02:50 PM
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In Reply To: Gofish1's post @ Jan 12 2010, 02:42 PM

There were two sides to the transaction that only the Opes Prime directors are being prosecuted for

Nothing changes the big boys are in the club.

post Posted: Jan 12 2010, 02:42 PM
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In Reply To: diana's post @ Jan 12 2010, 06:40 AM

Whats really pathetic is ASIC's deal with the ANZ.
- too big to take on - very deep pockets able to buy more lawyers than the taxpayer can afford.

There were two sides to the transaction that only the Opes Prime directors are being prosecuted for.

post Posted: Jan 12 2010, 06:40 AM
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In Reply To: Brendan's post @ Jan 11 2010, 07:08 PM

.... and pathetic charges too. I would have slapped them with theft, fraud and anything else I could think of that might reasonably apply to their despicable behaviour.
I hope they throw the book at them. They won't of course. The laws are too weak.
Still better than letting them get away scott free.

Thankyou for posting the link Brendan.


"Adversity does not build character; adversity reveals character."
Sandy Dahl
post Posted: Jan 11 2010, 07:08 PM
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Opes Prime directors charged by ASIC....... why o why has it taken so long????



post Posted: Dec 17 2009, 09:41 AM
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Given the OPES checks are starting to filter through what are people planning on doing with them.

Is it a matter of buying back the position or paying off the loans taken out many many months ago to regain that position???


post Posted: Aug 24 2009, 12:20 PM
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Not surprised...

ASX loses supervisory powers to ASIC

After the blow-outs of brokers Opes Prime and Tricom, the Federal Government has moved to take away supervision of Australia's largest licensed brokers from the Australian Securities Exchange. In a statement today, the Federal Government announced the Australian Securities and Investments Commission will in the future be responsible for supervising brokers who trade in financial markets.

This includes brokers trading in all listed and unlisted securities - including those trading on the Australian stock exchange and the Sydney Futures Exchange.

These last two markets were previously the domain of the ASX's market supervision arm....


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post Posted: Dec 30 2008, 02:44 PM
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QUOTE (mosaic1996 @ Tuesday 30/12/08 03:18pm)

Yep, that's right. But we are all after the same shark - ANZ (management).

Everything will be okay in the end. If it's not okay, it's not the end.
post Posted: Dec 30 2008, 02:18 PM
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In reply to: 29101971 on Tuesday 30/12/08 10:56am

Hi 2,

My reading is that it is yanks that invested in ANZ that are complaining. Nothing to do with an OPES client. I suspect that this is a long shot even for the yanks.



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