An interesting ASIC media release on Mr. Kaye & associates for those discussing him recently and whether to attend his seminars
Media and information releases
03-080 ASIC commences proceedings against Henry Kaye and others
Tuesday 4 March 2003
The Australian Securities and Investments Commission (ASIC) has commenced proceedings in the Federal Court in Melbourne against Messrs Henry Kaye and Alan Meagher, National Investment Institute Pty Ltd (NII) and Novasource Consulting Pty Ltd (Novasource).
ASIC alleges the parties disseminated false, misleading and deceptive information in connection with mezzanine mortgage lending facilities and the related training courses, advice and strategies provided by NII and its associates.
ASIC’s concerns relate to statements that investment opportunities and training programs allegedly promoted by NII, were approved by ASIC.
NII is not licensed in any way by ASIC.ASIC alleges the statements were made verbally, and in brochures distributed to potential clients.
ASIC is seeking declarations from the Court that in making the statements, the defendants have breached a number of sections in the ASIC Act, the Corporations Act and/or the Trade Practices Act.
ASIC is also seeking injunctions restraining the defendants from making similar statements in the future, as well as advertising to correct the alleged false or misleading statements.
The matter will next come before the court on 13 March 2003.
OZ
Thankyou for posting this information.
Very helpful, and good ammunition for my discussions tonight.
Cheers, Willie.
Willie, there is an article in today’s Fin Review (page 57) which goes further in regard to Henry Kaye’s alleged breaches under the Trade Practices Act. He is apparently facing “civil charges” in the Melbourne Fed Court as well. Worth getting a copy of that article too!!
OZOZ,
you have been a valuable source of info today. Many thanks to you. [
]I have the just read the financial review and now feel better prepared for tonight.
I maybe asking you for more info very soon.
Kind Regards, Willie.
Good luck tonight Willie. “Forearmed is forewarned”!!!
Oz
I went to the Federal Court today. The ASIC case has been adjourned untill next month with some undertakings made by NII to ASIC in the meantime. I met with and spoke to a Senior Investigator with the ASIC who told me there are many people who have complained about the business practices of the NII. I am one of those people.
I am preparing a story for the ASIC and the media to expose what is, in my opinion, misleading and unfair business practices related to the NII Investment Mastery course. I would like to hear from anyone who would like to contribute to this story with some facts about their own experiences.
Please contact me at [email protected] if you have a comment in this regard.[]
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