Originally posted on 02/13/2014:
The money might not come back but the whole point is that these guys have legal options to pursue their cash whereas those who bet in CR don't. I jumped in this thread when the issue had already been going on for months as I'd been away from SBR during that time and because no one else was able to visit their offices, I did. I honestly expected to find they had disappeared; instead they had the balls to set up a new company in the exact same office with the exact same website "allegedly" planning to do the exact same thing but with a Phillipines license this time. All while claiming to be solvent. This unfortunately doesn't matter in CR but in Australia this is illegal and you face having to pay what you owe people + heavy fines and up to 5 years in prison. To make it worse, the GC assured people this 20yr old book was solvent so people continued to deposit there believing a friggen govt body was on top of it. This isn't a forum trying to best advise people on what books are decent or not... it's a tax-payer funded regulatory body. We've managed to get Peter and Graeme to come out of hiding twice now in the past week, there's already been one article in one of the largest Aussie papers with more to come and on tv. Things are finally happening and the media attention is increasing each time I check my email and phone so to give up now would be ridiculous.