No stop for stockmarket predator David Tweed |
Herald Sun editorial reports, UNLIKE New South Wales, Victoria has no law that can halt the activities of stockmarket predator David Tweed.
As reported in yesterday's Herald Sun, Tweed's modus operandi is to use Victorian courts to pursue victims who have been conned into selling shares to him at discount prices.
At the moment, he is suing some elderly and infirm people in Melbourne Magistrates' Court for refusing to hand over their shares after they woke up to him.
For a decade, weak share trading laws have frustrated attempts by regulatory authorities to halt Tweed.
But the NSW 1980 Contracts Review Act protects victims in that state.
The Bracks Government must heed the urgings of lawyers acting for Tweed's victims and bring Victoria into line.
Otherwise, Victoria will not be the place to be. It will be a rogue's state.
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