28 June 2004: The ACCC applied to the Federal Court, Sydney, for ex parte orders to serve application on the solicitors for National Training Conference following concerns that the company’s advertising was misleading and/or deceptive.
The ACCC action concerned invitations that were mailed direct to Australian consumers containing allegedly misleading and deceptive statements regarding the Financial Superstars Conference seminars to be held in Brisbane, Melbourne and Sydney between 1–3 July 2004.
National Training Conference, an American organisation which runs property investment seminars, has agreed to consent orders in the Federal Court requiring it to correct misrepresentations made in invitations and has undertaken to place prominent signage at the entrance to the seminars and make oral statements to attendees at the commencement of the seminars to the following effect:
that the phrase ‘Australia’s Greatest Financial Super Stars’ which appears in the invitations to the seminars is incorrect and in fact the seminar speakers are not Australian, have never been Australian, and have no direct experience in the Australian property market
dollar figures which are quoted in the invitations are expressed in US dollars and the statements made in the invitations about investing in real estate relate to US conditions and have no necessary application to Australian circumstances
the phrase 'unique Government approved' investment which appears in the invitations does not refer to any approval by the Australian Government, and
references in the invitations to 'becoming wealthy' are based on techniques that are referred to during the course of the seminars, the success of which is not guaranteed by the promoters or speakers.
