Revelations that vulnerable people are being charged exorbitant fees by Public Trustee agencies have prompted calls for compensation and accusations that state governments are turning a blind eye to the problem.
The Public Trustee system is similar to the conservatorships in the US which pop star Britney Spears was under for almost 14 years. Our investigation focused on the state government agencies that take over the affairs of Australians deemed to no longer have capacity.
Before the Four Corners' program went to air and with prominent publicity about the ABC investigation, the chair of the Public Trustee of Tasmania, Mark Scanlon, resigned unexpectedly on Friday.confidential tips visit hereCEO of Your say Advocacy Tasmania Leanne Groombridge is calling for a compensation scheme for those who have had their finances mismanaged.
"We want a system where people can actually get some form of compensation so that they can start trying to regain the lives that have been destroyed by the Public Trustee," she said.WatchState Control: Australians trapped, stripped of assets and silenced.Clinton Vandenberg was 23 when Queensland's Public Trustee office was appointed to manage his finances.
Each year, Mr Vandenberg was charged for advice about how to invest his money. An external wealth management firm, Morgans, gave the advice which was the same strategy given to virtually every client under the Queensland Public Trustee: Invest the money in financial products managed by the Public Trustee office itself, earning it yet another management fee.
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