For those who are interested. An article from today’s Age.
Property spruiker Henry Kaye in court
January 24, 2006 – 12:56PM
Property spruiker Henry Kaye, who is accused of deceiving the St George Bank of almost $18 million, appeared briefly in a Melbourne court today.
Kaye was charged with obtaining financial advantage by deception in December last year after a two-year investigation by the Australian Securities and Investment Commission (ASIC).
ASIC alleges Kaye fraudulently used deposit bonds to convince St George to lend him almost $18 million to buy off-the-plan apartments in the Oasis complex, in the Melbourne bayside suburb of St Kilda.
The 36-year-old allegedly bought 200 apartments, intending to on-sell them for a profit to clients at his seminars in Sydney and Melbourne.
He used the seminars to teach low-income earners how to become property investors.
Kaye’s solicitor Lewis Janover has previously issued a statement confirming his client vigorously denies the charge.
At a filing hearing today in Melbourne Magistrates Court, magistrate Maurice Gurvich adjourned the matter until May 5.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958so what exactly is the crime?
How were the deposit bonds fraudulent?
Is it illegal to buy properties at one price and on sell them for a higher price at a seminar? I thought people did this all the time?
I really just dont understand what he did wrong, then again, I have never looked into it to any great depth.
anyone care to elaborate?We buy properties in Adelaide. No Agent Fees.
[email protected]
INCREASE THE CASH FLOW FROM YOUR INVESTMENT PROPERTIES!
http://www.renttoownau.com/ http://www.vendorfinanceau.com/Dr X,
The link below might answer your query – I haven’t had a good look at all this myself, but I know that Jenman really loves this guy!?!
http://www.jenman.com.au/find/index.php?query=henry+kaye&type=simple
Cheers,
Adam
Don’t let life get in the way of living.
hi Dr.X
your question is relatively difficult to answer as is not the purchasing and on selling thats the problem
its that they used an inhouse finance company that told the investors one thing and the banks another and the two where not in the same direction.
I must admit I went to a couple of there seminars and went with others to explain there system to a couple of investors
I didn’t buy any of there products as I didn’t see the value but alot did.
most of these systems were never going to use a neil jenman of this world so that gives a idea why they never liked him.
For me the problem is not the henry kaye’s of this world its the lenders that make it happen.
when you have a bull market ( which is what it was when henry was at his height) some people get malled because thats what bulls do
you just have to make sure you have checked everything and don’t get eaten.
Its the same in a falling or bear market people look to get out of real estate and into shares.
have a look at the papers with mezzanine fund trust springing up everywhere and the regulators can’t keep up with registration.
they will be the next henry kaye of 2006.
they call it businesshere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]Wow, Jenman is having a field day out of this!!! [party][jerry] and he is making sure all victims are invited to the party [lmao]
The case is doing it’s best to bring out the “victims” in people who knew full well what the price of the seminar was and agreed to pay it.
I personally know people who have gone to a Henry Kaye seminar and are now using the knowledge and ideas to make bucket loads of money. One guy I know is now running his own development company in Adelaide. This all started with Henry Kaye!
This guy is successfull because he took responsibility and does not have a victim attitute.
It would be interesting to see in 10 years, the difference between people that jumped on the band wagon and asked for money back, VS those who went along paid some money for the seminar and then moved on with their own lives instead of blaming others.
I would love to look at a profile of wealth between these two types of people and see which one fares better in the long run!attitute is everything!
We buy properties in Adelaide. No Agent Fees.
[email protected]
INCREASE THE CASH FLOW FROM YOUR INVESTMENT PROPERTIES!
http://www.renttoownau.com/ http://www.vendorfinanceau.com/From what I understand HK had some pretty good ideas and Investor Strategies as well..such as how they approached banks and valuers etc
Wish I knew what they were :o(
Anyone here go through the HK Seminars/Membership etc ??
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatorhi redwing
you could buy the diskset on ebay for $10 at one stage and was tempt to purchase at one stage.
and i go to lots of these types of seminars for education on there systems I to would be interested for someone who paid out there money and whats there results.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]I borrowed the notes from someone that went to the seminar,
it was all just basic investing strategies, no different to what steve mcknight teaches really!common knowledge for most of us, however, if I was given this info as a begining investor years ago and implemented the strategies (as I do now), I would have absolutely made some money on it!
We buy properties in Adelaide. No Agent Fees.
[email protected]
INCREASE THE CASH FLOW FROM YOUR INVESTMENT PROPERTIES!
http://www.renttoownau.com/ http://www.vendorfinanceau.com/
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