The Australian Competition and Consumer Commission has discontinued, with the consent of the other parties, proceedings in the Federal Court, Sydney against Vision Pursuit Pty Ltd, Giann & Giann Pty Ltd and Mr Robert Allen.
The ACCC was satisfied that the orders consented to on 20 July and 21 July were sufficient to deal with the ACCC's concerns regarding the promotion of strategies which do not apply in Australia, and that it was not necessary to seek declarations and other remedies in relation to the matter.
The ACCC had alleged that Vision Pursuit, Giann & Giann and Mr Allen contravened the Trade Practices Act 1974 by engaging in misleading and/or deceptive conduct in relation to the promotion of the Robert Allen Millionaire Matrix Seminar, to be held in Sydney from 21 July until 24 July.
Vision Pursuit, Giann & Giann and Mr Allen all consented to orders (20 July and 21 July) that they would correct representations made in material promoting the Robert Allen Millionaire Matrix Seminar relating to certain wealth creation strategies to be taught at the seminar.
The consent orders required Vision Pursuit and Giann & Giann to place prominent signage at the entrance to the seminar and make oral statements to attendees at the commencement of the seminar that references to wealth creation strategies by:
- private mortgage notes
- brokering mobile home notes and
- leveraging ‘tax certificates’ and/or ‘tax deeds’ which appear in material promoting the seminar refer to strategies applicable in the United States of America and which have no application in Australia.
Mr Allen consented to orders in the Federal Court requiring him to not make, publish or cause the publication of certain representations as to wealth creation strategies made in material promoting the seminar.
No costs order was made.