A Stockbroker is threatening to shake up the financial services industry in Queensland.

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He has stepped forward as a whistle-blower to voice support for a $200 million investor class action over the collapse of Australian Magnesium Corporation’s $1.7 billion Stanwell light metals plant last year.

Financial Class Actions (FCA) principal Roger Brown described the whistle-blower as “an immensely powerful witness” who had committed a “major act of bravery in this town” by coming forward.

“It has taken a long, long time to get this witness to come forward and he has some bombshell information,” he said.