PSST – HEY, MR SAMUEL, THE CON ARTISTS HAVEN'T GONE
They have just gone thataway"¦
Picture the scene. A Saturday morning back in September this year. The new chairman of the ACCC, Graeme Samuel, is at home having breakfast. A bowl of Sultana Bran.
Like many of us do on the weekend, he’s reading the morning paper.
He turns the page and, suddenly, there it is – Henry Kaye advertising about how all Australians can become property millionaires in six months with no deposit, no debt, no risk, no equity – and all guaranteed.
As Graeme tells it, “I almost choked on my Sultana Bran.”
To his credit, Graeme sprung into action. Within days his investigators were digging into Henry Kaye. Within weeks Kaye faced charges of misleading and deceptive conduct.
After three years of outrageous advertisements by dozens of real estate con artists, consumers can be thankful that one of our top regulators reads the newspapers and sees what thousands of Australians have been seeing for years – false and misleading advertisements.
Thank goodness for Graeme Samuel. Thank goodness for Sultana Bran.
Now, fast forward to Sunday, November 30th
Another breakfast scene in Perth, Western Australia. More cereal. This time, it’s Samantha, a 23 year-old victim of real estate conman, Henry Kaye. The television is on. Suddenly, Samantha hears mention of real estate scams. And there he is, Graeme Samuel, the ACCC chief, talking about dodgy property seminars. “They rip off consumers and we are going to stop them,” he said. He also said that “virtually all the so-called property investment seminar advertisements have ceased”.
Putting down her bowl of cereal, Samantha opens her newspaper. And there, on page 47, she sees it – an advertisement for a property seminar. No, it’s not Henry Kaye. It’s someone else, someone who used to work for Henry Kaye, the same person who conned Samantha out of $15,000 for a Henry Kaye course. The company name has changed, the boss has changed, but the street level con artist is still at it. Still luring consumers.
Back on the east coast – in Sydney – a similar advertisement is appearing. This time on page 5 of the major newspaper. The advertisement doesn’t mention a company name. It doesn’t make any outrageous claims. It looks safe, even genuine. It includes these words, “You’ll also learn how not to get swept up in the ‘get rich quick’ craze currently sweeping through the property market.”
Who is it? Dial the number and find out. A company calling itself Bridgepoint United. Sounds safe – but in the world of property seminars, safe means ‘suss’.
And so who’s behind this company?
Well, while Graeme Samuel was choking on his Sultana Bran back in September, Henry Kaye’s closest conspirator, Pasko Skelin, was a director of a company called Bridgepoint Corporation. Henry’s sister, Julia Kukuy, was listed as a former director of Bridgepoint United. Today, the sole director of Bridgepoint United is Melinda Reiter, Henry’s former friend and partner. Henry has apparently fallen out with both Melinda and Julia.
A consumer who attended the Henry Kaye seminars and has heard the Bridgepoint spiel says that the two are almost identical.
Coincidence?
No, the con artists haven’t gone, Mr Samuel, they have just split and run in different directions.
It’s time to get out the Sultana Bran, scan the papers and send in your troops again.
*Neil Jenman is a real estate authority and author.
