>Vision Pursuit Pty Ltd and Giann & Giann Pty Ltd, the promoters of a property investment and wealth creation seminar to be held in Sydney this week, have agreed to consent orders in the Federal Court requiring those parties to correct misrepresentations allegedly made in material promoting the seminar.
The consent orders follow Australian Competition and Consumer Commission action against Vision Pursuit and Giann & Giann alleging misleading and/or deceptive conduct in relation to the promotion of the Robert Allen Millionaire Matrix Seminar, to be held in Sydney from tomorrow (21 July) until 24 July.
Late yesterday (Monday) the ACCC applied to the Federal Court, Sydney for ex parte orders to serve the application on the solicitors for Vision Pursuit and Giann & Giann in order that the proceedings be heard before the seminar commences on Wednesday 21 July.
The ACCC's allegations concerned marketing material that was sent directly to Australian consumers inviting them to attend the Robert Allen Millionaire Matrix seminar, containing allegedly misleading and deceptive statements relating to certain wealth creation strategies to be taught at the seminar.
Vision Pursuit and Giann & Giann have agreed 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 which strategies have no application in Australia.
"The ACCC continues to be concerned about misrepresentations made in promotional material for these types of seminars, and will not hesitate to act to ensure that any misrepresentations made by the promoters of such events are publicly corrected prior to the commencement of the seminar", ACCC Chairman, Mr Graeme Samuel, said today.
"Today's action, and the ACCC's action taken two weeks ago against the National Training Conference, reinforces the ACCC’s ongoing commitment to monitor the promotion of these types of seminars and enforce the Trade Practices Act 1974 where breaches to the consumer protection provisions of the Act occur”, he said.