Kaye in Court..
- Thread starter willair
- Start date
geoffw said:
Kaye is in the biggest hole ever....17million?….he’s looking at serious jail time…...funny thing is, at my old work I had a few guys who went to one of his seminars on the Sunshine Coast some 3 years ago and they swear by Kaye - said they received some awesome advice, that he's been unfairly treated and so on....I think I mentioned Jenman or something and they went right off after that - calling him a zealous himself and what not....it was quite amusing at the time...
my two cents....
George
geoffw said:
the age wrote: The committal hearing is expected to run for two to three weeks. Kaye was in court yesterday for a filing hearing, with magistrate Maurice Gurvich ordering him to reappear in May.
I reckon it would be fun/educational going, even to the committal hearings (that are minus Kaye).
Does anyone know the dates/times for the committal hearings?
The 'big one' in May would be a presentation like no other, so I must remember not to forget!
Peter
grubar30 said:
From what I've heard he also had some pretty good ideas and strategies; I believe the ideas they had regarding putting your property in the best positive light by gathering data, speaking with valuers etc prior to approaching the banks was great..wish I knew more about some of his other strategies..
REDWING
IM Humble Opinion Mr Kaye strategies may have worked but he essentially played the game of musical chairs.
Had the boom not happened he would have been kaput.
If you can secure 10 apartments off the plan and they go up 30% before completion because of the market you make money for no skill other than being able to secure. BUt what happens if they go DOWN! That where he had to be INNOVATIVE. Providing Bank Guarantees that are not worth the paper they are written on.
Each boom Henry Kayes come and go. Remember Bondy and Skase? Everyone thought they could do no wrong!
We are only now starting to see the fallout from the boom ending with a number of Large Developers going belly up.
From someone who has some one the inside I can tell you more bankrupts are coming.
So be careful in praising Henry Kaye methods because they probably only work with the market going one way (up).
Peter 147
Had the boom not happened he would have been kaput.
If you can secure 10 apartments off the plan and they go up 30% before completion because of the market you make money for no skill other than being able to secure. BUt what happens if they go DOWN! That where he had to be INNOVATIVE. Providing Bank Guarantees that are not worth the paper they are written on.
Each boom Henry Kayes come and go. Remember Bondy and Skase? Everyone thought they could do no wrong!
We are only now starting to see the fallout from the boom ending with a number of Large Developers going belly up.
From someone who has some one the inside I can tell you more bankrupts are coming.
So be careful in praising Henry Kaye methods because they probably only work with the market going one way (up).
Peter 147
I personally respect Peter Spann.
He was one of the first, and is still in business.
Others tried to copy- but to make themselves unique, tried to be creative. In a dangerous way. And not many of those are still standing.
Peter is not recommending residential property at the moment- with some exceptions.
Granted, he is selling other investments, so anything he recommends should be subject to due diligence. Just like anything.
But if somebody like Peter is suggesting that it's generally the wrong time to be getting into property, I tend to take notice.
He was one of the first, and is still in business.
Others tried to copy- but to make themselves unique, tried to be creative. In a dangerous way. And not many of those are still standing.
Peter is not recommending residential property at the moment- with some exceptions.
Granted, he is selling other investments, so anything he recommends should be subject to due diligence. Just like anything.
But if somebody like Peter is suggesting that it's generally the wrong time to be getting into property, I tend to take notice.
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For anyone interested about the Mr Kaye..
http://www.asic.gov.au/asic/asic.nsf/byheadline/07-67+Henry+Kaye+committed+for+trial?openDocument
good luck willair..
For anyone interested about the Mr Kaye..
http://www.asic.gov.au/asic/asic.nsf/byheadline/07-67+Henry+Kaye+committed+for+trial?openDocument
good luck willair..
I donot understand why ASIC pick on him. Like Westpoint, people lost $300m. For this case, anyone lose money or what? Maybe the article is not clear
I reckon they think he has ripped a lot of people off with exorbitant fees he has charged for seminars.
They think he is a bad egg - a conman.
Basically they want to get him for that, and this is about all that they think they can make stick to get him and make an example out of him.
He is to reappear in the County Court on May 28 at 9.00am
They think he is a bad egg - a conman.
Basically they want to get him for that, and this is about all that they think they can make stick to get him and make an example out of him.
He is to reappear in the County Court on May 28 at 9.00am
Thanks Willy1111,
Just read full story (2003) regarding Osasis project. Apart from ethic (moral) part, I can not see ASIS can do any thing ---- Just waste public pocket money to exercise something in vain
Just read full story (2003) regarding Osasis project. Apart from ethic (moral) part, I can not see ASIS can do any thing ---- Just waste public pocket money to exercise something in vain
Remember Bondy and Skase? Everyone thought they could do no wrong!
Peter 147
Yep sure do, I lost my bond back in my renting days, when I could least afford it. The PM had deposited it with an institution that went belly up as a result of these people and according to the fine print the agency wasn't responsible for the loss. I eventually received 17c/1.00 after the liquidators had finished with the remains of the company 2 years later on.
On the other hand I also remember Bondy building hotels and Universities, revitalising the dying port of Fremantle that still buzzes today thanks to him winning the Americas Cup. I recall Skase built hotels and resorts as well, all these developments did, and still do employ people and generate growth and positive outcomes.
What do the new breed of "entrepreneurs" like Kaye create? Sweet F.A. except a hidden pile of other people's money that, no doubt, nobody will be able to touch.
Honestly, people like Kaye make the Bondys and Skases look like nation building men of honour. Sheesh.
Skase and Bond may have done some good in the early days, but they lost hundreds of millions of other peoples' money, didn't they? How could anyone possibly think they ever were men of honour?
I dragged my hubby to a Henry Kay free seminer which did have some good ideas for the market situation at the time, but not my cup of tea.
The most memorable thing for me was that during the last session, where the hard sell really started for his private seminars which cost thousands, and people started leaving.... he tried to shame them by calling out things like "look at that gentleman, he obviously doesn't want to make money".
I felt really sorry for the people trying to leave quitely with Kaye ridiculing them for leaving.
It left a really sour taste and my hubby thought the whole evening was a waste of babysitting when we COULD have gone to a movie.
Wylie
I dragged my hubby to a Henry Kay free seminer which did have some good ideas for the market situation at the time, but not my cup of tea.
The most memorable thing for me was that during the last session, where the hard sell really started for his private seminars which cost thousands, and people started leaving.... he tried to shame them by calling out things like "look at that gentleman, he obviously doesn't want to make money".
I felt really sorry for the people trying to leave quitely with Kaye ridiculing them for leaving.
It left a really sour taste and my hubby thought the whole evening was a waste of babysitting when we COULD have gone to a movie.
Wylie
Hi Wylie,
Please re-read my post. I didn't say they were men of honour, they were both crooks, not alleged but proven, in Bond's case charged and convicted. Like I said I lost money thanks to their actions and I didn't even know my money was at risk so I'd be the last to defend either men.
You wrote yourself that Bond and Skase did do some good in the early days. My point was that in comparison, Kaye has done nothing to improve anything except his own financial position, and he has done so in a morally, ethically and perhaps legally deficient way.
What I did say was that people like Kaye make Bond and Skase look like men of honour, comparatively speaking. A bit like saying that compared to being shot in the back, a slap in the face is painless.
Cheers,
Beef.
Wonder where Mr Henry Kaye is now????
who cares...
conducting overpriced seiminars isn't a crime, people pay a certain amount of money if they think it is worth it. Its like any product that is being marketed from cereals to cars.
Obviously people still walked out of the free seminar, they weren't forced to pay for the next step.
It will be interesting to see how it all turns out. It could be that he was stopped before people lost their $$$ (banks etc) its a pity other's in the past haven't been caught till its all gone.
Obviously people still walked out of the free seminar, they weren't forced to pay for the next step.
It will be interesting to see how it all turns out. It could be that he was stopped before people lost their $$$ (banks etc) its a pity other's in the past haven't been caught till its all gone.
His seminars were great! (I got a copy of one for free
)Seminars and the property market in general are just a metaphore for what each person believes. It is up to investors attending the seminars to take action, implement a plan and become successful. Henry Kay cannot make you rich only you can.
The reason things like this happen (Kaye in jail) shows how many victim mentalities are out there (and Jenman really promotes victims) and highlights why there is such a huge difference in thinking between rich and poor!
It also shows why the rich get richer and why the poor just follow Jenman
