PB Tabloid: 'Wealth guru' told to offer clients refunds
Aug 1st 2003, 1:45 am
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'Wealth guru' told to offer clients refunds
Just an insight to yet another scam that is rife in Australia , immos with half an idea to rip off the naive run riot here.
PROPERTY investment guru Henry Kaye will be forced to restructure his wealth seminars after a legal battle with Australia's corporate watchdog.
Australian Securities and Investment Commission civil proceedings yesterday resulted in Mr Kaye, 33, and associate Alan Meagher being forced to make a list of assurances.
The Federal Court orders include offering refunds to many clients.
The court ruling comes a month before ASIC releases results of its crackdown on "wealth creation" schemes.
The Russian-born self-made millionaire, who once sold ugg boots and handbags at the Queen Victoria Market, heads the National Investment Institute and is renowned for his wealth through property investment workshops, which can cost up to $55,000.
http://www.heraldsun.news.com.au/com...5E2862,00.html
PROPERTY investment guru Henry Kaye will be forced to restructure his wealth seminars after a legal battle with Australia's corporate watchdog.
Australian Securities and Investment Commission civil proceedings yesterday resulted in Mr Kaye, 33, and associate Alan Meagher being forced to make a list of assurances.
The Federal Court orders include offering refunds to many clients.
The court ruling comes a month before ASIC releases results of its crackdown on "wealth creation" schemes.
The Russian-born self-made millionaire, who once sold ugg boots and handbags at the Queen Victoria Market, heads the National Investment Institute and is renowned for his wealth through property investment workshops, which can cost up to $55,000.
http://www.heraldsun.news.com.au/com...5E2862,00.html
