Good luck to anybody thinking ASIC will get involved. I had a...

Good luck to anybody thinking ASIC will get involved. I had a Company and its Director dead to rights, had ex and other current Directors on side to testify as to the total malfeasance's, had documented proof of "redirection of funds", had documentation showing misappropriation, squandering of many millions $$ on personsal trips and expenses, incredibly lavish parties, feathernesting of mates on the Board, had $30mill of shareholders [200+mill of shares] signed up for a class action and couldn't get a legal firm to run with it because the carcass had been clinically picked clean so no money for them if they won, and ASIC dabbled around the edges, showed initial interest and then as they wouldn't be able to levy a big fine and expect to recover it also walked away. Unless it is a high profile Company [which will give ASIC brownie stripes with the Gov't. and media] and unless they can slap on a many millions $$$$$ fine to fill their coffers and get back the significant cost of pursuing a Company and/or Directors you are absolutely wasting your time!! Don't hang your hat on being able to get financial restitution, moral satisfaction, or justice via the "system" because you won't. The only people who will get anything out of it will b e the ATO and absolutely the liquidators who will surgically separate the Company and any assets left in their own favour. I along with others tried desperately hard over a very long period of face to face meetings with other disaffected shareholders, face to face with ASIC, long discussions with a number of legal firms, we had financial media on side, EVERYTHING. End result. No convictions and the perpetrators are free to start up another mugs game tomorrow if they want!! Sorry but rhetoric over suing, class action, ASIC is all pipe dream unfortunately. I too got done done a dinner by BPH and I still hold about a million shares in their supposedly great "next thing" Molecular Discoveries and I pumped in extra when the Ocean Patriot [from memory] was looking for that sure thing liquid gold off Sydney so I would like to be able to rip this Company apart and I am certainly not a defeatists because the other Company took years off my life and I was the spearhead but...........................!!!!