Henry Kaye - Where i now???

[mikey investor]

Hi,

Does anyone happen to know where Henry Kaye is now?

I heard that he now runs nightclubs???!!!

Does anyone have any reliable info???

Thanks!

BTW - the title was "Henry Kaye - Where is he now" (Computers fault!)

 

[willair]

Hi,

Does anyone happen to know where Henry Kaye is now?

I heard that he now runs nightclubs???!!!

Does anyone have any reliable info???

Thanks!

BTW - the title was "Henry Kaye - Where is he now" (Computers fault!)

The legal people that i sometimes have a drink with tell me he is still a free man,depends on who you talk too, but as each have Karma as their own then then it's only a matter of time,or how much time ..willair..

 

[gerd.]

http://www.news.com.au/heraldsun/story/0,21985,23482991-661,00.html

Gerd

 

[willy008]

Hi,

Does anyone happen to know where Henry Kaye is now?

I heard that he now runs nightclubs???!!!

Does anyone have any reliable info???

Thanks!

BTW - the title was "Henry Kaye - Where is he now" (Computers fault!)

I read a while ago in a news paper that he swapped some property for a
night club in grevel st Prahran would of been maybe a year ago

yep found it almost 2 years ago http://www.theage.com.au/news/national/kayes-new-social-order/2006/07/21/1153166587224.html?from=rss

 

[WashingtonBrown]

http://www.news.com.au/heraldsun/story/0,21985,23482991-661,00.html

Gerd

Wow - he got off.

Might have been too embarrassing for the bank to continue...

 

[ianvestor]

I was surprised by something in this article:

http://www.theaustralian.news.com.au/story/0,25197,23486199-25658,00.html

Mr Kaye was in 2004 found to have breached the Trade Practices Act by falsely claiming he could turn "ordinary Australians" into "property millionaires".

How is that possible? I mean, how is it possible that that claim could ever be found false? Ordinary Australians become property millionaires all the time.

 

[redwing]

Just saw this post by Terry on PI.COM as well...

http://www.propertyinvesting.com/forums/community/heads-up/4324271

Paul Barry could write another bestseller to add to the list?

Books
1991 The Rise And Fall Of Alan Bond, [ISBN 1-86359-037-4]
1994 The Rise And Rise Of Kerry Packer, [ISBN 1-86359-338-1]
2001 Going For Broke, [ISBN 1-86325-197-9]
2003 Rich Kids, [ISBN 1-86325-339-4]
2006 Spun Out, [ISBN 0-593-05662-0]

http://business.smh.com.au/asic-drops-case-against-henry-kaye/20080404-23p3.html

ASIC drops case against Henry Kaye

April 4, 2008

Australia's corporations watchdog has abandoned a bid to prosecute a Melbourne property spruiker over an alleged $18 million fraud.

The Australian Securities and Investments Commission (ASIC) charged Henry Kaye with one count of obtaining financial advantage by deception after an investigation in December 2005.

Kaye, who ran wealth creation seminars for low-income earners in NSW and Victoria, was accused of dishonestly securing $17.7 million in finance from St George Bank for property developer, Inkerman Developments.

It followed events in June 2000 when Kaye's company Oasis Investments bought 168 off-the-plan apartments to be built in St Kilda from Inkerman at a discounted price.

He then on-sold them at a mark-up to ``wealth creation'' seminar participants, court proceedings heard last year.

Solicitor Lewis Janover said today the Commonwealth Director of Public Prosecutions had withdrawn the charge laid by ASIC against Kaye.

He added Kaye had always maintained his innocence and denied any wrongdoing.

A spokeswoman for ASIC confirmed it had withdrawn the charge and the case would no longer be proceeding.

 

[Xenia]

Books
1991 The Rise And Fall Of Alan Bond, [ISBN 1-86359-037-4]
1994 The Rise And Rise Of Kerry Packer, [ISBN 1-86359-338-1]
2001 Going For Broke, [ISBN 1-86325-197-9]
2003 Rich Kids, [ISBN 1-86325-339-4]
2006 Spun Out, [ISBN 0-593-05662-0]

This continous focus against rich entrepruneurs and wanting to glorify their flaws only reinforces peoples fears of success. The masses will always be kept poor and working in jobs they do not like because they are continously looking for flaws in people that have made it just to justify their own lack of success.

People with no money can commit similar or worse acts of fraud as HK did but would not attract so much attention.

Yes any ordinary Australian can become a property millionaire but first they need to want to be a millionaire and you cannot be something that is programed in your subconcious as being wrong!

you know that you are programed against being rich and succesful if you are continously looking for evidence to make rich and succesful people wrong and therefore justify your own lack of sucess!

 

[Norwester]

Certainly sound like you're living the dream........

Good luck to you and your family.

ciao

Nor

 

[evand]

I disagree. I think people are programmed against being rich, successful AND UNETHICAL.

Not to mention illegal. Most of these guys have done time in the big house. Its not just societie's perception. The truth is they have done wrong (whether morally or legally, if not both) and been punished by society.

Sorry Xenia, thats a fact.

you know that you are programed against being rich and succesful if you are continously looking for evidence to make rich and succesful people wrong and therefore justify your own lack of sucess!

 

[alexlee]

I disagree. I think people are programmed against being rich, successful AND UNETHICAL.

Not to mention illegal. Most of these guys have done time in the big house. Its not just societie's perception. The truth is they have done wrong (whether morally or legally, if not both) and been punished by society.

Sorry Xenia, thats a fact.

It's just that the rewards are immediate and more definite, and the punishment (fines, jail, reputation, etc) are unknown and might not happen. It's the same with the banking crisis now: CEOs and traders get paid on a year's performance, and if the bet blows up later, they don't give the bonuses back. Assuming there's no fraud (because stupid risk taking isn't illegal) they just get fired and retire to their homes in the hamptons.

I wouldn't say most of these guys are doing time: most of the ones WE KNOW OF are doing time. I'm sure there are plenty of people who get away with smaller crimes every day.

The truth is that they did something illegal. The other truth is that they didn't care at the time because the human mind is wired to weight immediate gains and gratification more heavily than unknown punishments later. Hence why most people aren't long term investors when they should be.
Alex

 

[GoAnna!]

I think a connection is made between RICH and UNETHICAL that does not need to exist. So people say I don't want to be rich because they think being rich means being unethical.

I think money magnifies who you are and so we notice the unethical rich more than we do the unethical poor. Steal a car and you don't make the papers - steal millions from mum and dad investors and you do!

 

[Xenia]

I think a connection is made between RICH and UNETHICAL that does not need to exist. So people say I don't want to be rich because they think being rich means being unethical.

I think money magnifies who you are and so we notice the unethical rich more than we do the unethical poor. Steal a car and you don't make the papers - steal millions from mum and dad investors and you do!

Thank You my point exactly. I'm not saying they did nothing wrong I'm saying that the "rich and successful" part is what most of society is harping on! It's like they are saying to themselves "I'm glad I'm not that successfull and rich because they are all crooks"

Look hard enough and the rich are no more unethical than the poor! I could put up a whole page of notes on the unethical conducts of our current builder but he is only a small person and will never make the headlines! There is no emotion there by the masses!

 

[redwing]

Its never a problem ......until it's a problem??

I dont understand some of your thoughts Xenia, I'm sure if people with no money committed more serious acts of Fraud than HK they would attract some serious media attention....Bad News sells?

Nick LEESON
Worldcom
Enron

Sheet, I know more about Ben COUSINS trangressions than I do about HK and he's definetly had more press here in WA than Henry, but as an Investor I'm always a bit 'cautious', bad new Investing Stories remind me that it pays

I'm sure Mr K's participants were all looking to better themselves and as per the news below, not all are happy-happy-joy-joy that he got off

The news was met with anger by many of Mr Kaye's former clients, who lost an estimated $40 million when his National Investment Institute was placed in liquidation in 2004

Carol Perry, who sank $60,000 into Mr Kaye's seminars, said she was "amazed" ASIC had been unable to proceed with the case. "It's a joke ASIC couldn't do anything more," Ms Perry said. "ASIC should have also acted much earlier than they did to stop his activities."

Following two years of pressure from investors, ASIC in 2003 launched civil action against Mr Kaye, who was subsequently prevented from conducting wealth-creation seminars and required to repay investors.

But most of that money went unpaid because Mr Kaye's National Investment Institute was placed in receivership shortly afterwards owing more than 3000 creditors about $40 million.

 

[normailson]

I was surprised by something in this article:

http://www.theaustralian.news.com.au/story/0,25197,23486199-25658,00.html



How is that possible? I mean, how is it possible that that claim could ever be found false? Ordinary Australians become property millionaires all the time.

The advertisement placed by Mr. Kaye stated he could turn average Australians into property millionaires within in six months. The problem was his definition of "property millionaire" was someone who had $1mil AUD in borrowings; not equity. A bit like how Clinton's definition of "sexual relations" conflicted with the general understanding of the term in the broader community.

The borrowings, of course, were used to buy Henry Kaye's apartments.
Bill was dodgy and avoided impeachment. Henry was dodgy and went down (that phrase just came to mind).

Some people here don't seem to see vested interests and potential for collusion as a serious issue. I'm sorry - if you charge money to masquerade as financial advice that results in selling your people and products, then that is a problem.

Educate yourself by reading books, attending free seminars and do it yourself. HK made money because of people looking for the easy way to riches through spruikers. They didn't understand the spruikers are looking for the easy way to riches through you.

 

[geoffw]

He's in the news again- well, his company at least.

Henry Kaye victims win $3m relief


A company connected to controversial property spruiker Henry Kaye has paid out $3.5 million to hundreds of litigants.

The out-of-court settlement was confirmed in a judgment made today in the Victorian Supreme Court by Justice Elizabeth Hollingworth.

Law firm Slater and Gordon instigated a class action against the company on behalf of 230 claimants who signed up for investment seminars run by Mr Kaye in 2003 and 2004.

...