ASIC fails to prosecute a single builder suspected of insolvent trading, despite 'devastating' impact on home owners

Hundreds of failed construction companies are suspected of insolvent trading, but not one has been prosecuted by the watchdog responsible for holding them to account, with the latest figures showing three in four — 682 out of 919 — that folded in the 2021-22 financial year alone were suspected of insolvent trading, but no criminal or civil action ever being taken by ASIC against a builder or construction company director over the misconduct. More from ABC News.