HENRY KAYE – THE MAN WHO WOULD BE PROPERTY KING

Even Kipling could not have created this character. Danny Dravot was the central character in Rudyard Kipling’s classic tale, The Man Who Would Be King. In search of riches, Dravot set off with a friend to a hostile land called Kafiristan.

As they crossed rugged mountains, going where no Englishman had been before, their confidence grew. To the wild tribes they were miracle makers. Dravot was soon considered a god and crowned King of Kafiristan. But it all came unstuck when the wise powers of the land discovered that Danny Dravot was a fake. They set upon him and tore him apart.

Dravot should have got out while he was in front. But greed, as greed does, ruined him. His friend escaped, finally making it home to tell what happened to poor Danny, the man who would be king.

Today, the property huckster, Henry Kaye, is the central character in his own story. And just like Danny Dravot, Henry Kaye has been described as a King – “Australia’s Property King”.

But Henry should have realised that if you promise people they can be rich within three years, then, one day, the calendar will confront you. People will ask – what happened to the thousands of people who, between them, have paid you millions of dollars? When you can’t answer that question, the wise powers of the land will realise that it’s Henry Kaye who has got richest the quickest.

Two years ago, Henry had already made millions by promising people they could become multi-millionaires with his miracle methods. He should have got out then. But greed took over.

In a 2001 memo to his staff, Henry spoke of his goal to rule the world, by “expanding to all states in Australia, and to the US, and then to every major city in the world.” He told his followers, “you can claim your share of billions of dollars.” Pointing to the future, Henry said, “Every new office will require a master licensee, who will earn millions per year, and tens of consultants, each of whom will earn hundreds of thousands per year.” Heady stuff.

It seems that an article in Business Week – in which self-help guru Anthony Robbins floated a company with “no business model, no revenue and no profit” – may have caused Henry Kaye’s greed gland to haemorrhage. “He [Robbins] made nearly $500 million on ‘air’ and nothing else,” gushed Henry to his followers. “Just think what we can achieve.”

Henry then pushed his staff to reach a target of $100 million in one year from selling his property courses. “The future is here, NOW… we must all join as ONE,” he urged. The public float was in sight.

However, it was not to be. Henry’s miracle courses are a gigantic pyramid scheme where millions are made from property courses, but not from property. The aim is to sign up more and more wanna-be millionaires. That’s how he was going to make his billions.

But, like all pyramid schemes, only the early players make the money. Despite Henry’s claims that “anyone can be a millionaire”, the law of economics makes it impossible for everyone to become a millionaire using the same methods. It’s the real estate version of Amway – but without the soap.

Henry Kaye has now been exposed as a fake. Today, the laws of the land are set to tear him apart.

Even Kipling couldn’t have thought up this one.

*Neil Jenman is a real estate authority and author.