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  • Landlords in Distress

    Rick Otton found guilty of deceptive conduct

    The full court decision is now on-line and makes for an interesting read in respect of Rick Otton's marketing claims and claims about his own property success and wealth.  It reveals how his entire marketing funnel of books, boot camps, websites, and seminars were all populated with false marketing claims:

    Rick Otton Court Decision

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    Link isn't working for me. Anyone else having issues?

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    Use this link: https://is.gd/9dLXvc (property tribes requires HTTPS and seems Federal Court of Australia does not support https!! lmao)

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    _________________________________________________________________________


    The above post is not financial advice, its often me rambling - passing time on a coffee break.
    If you are looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance.


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    The Australian Competition and Consumer Commission has asked the Federal Court to hit We Buy Houses and its owner Richard ‘Rick’ Otton with $20 million in penalties for duping aspiring property investors with claims that they would learn how to buy a home for $1.

    The ACCC’s barrister Simon White, SC, told the court Otton had “absolutely not one whit of contrition or remorse” for his actions and posed a real risk of reoffending if the penalties were not a sufficient deterrent.

    The regulator is also calling from Otton to be disqualified from managing corporate entities for 10 years after showing a “complete disregard” for his obligations and duties as the director of We Buy Houses.

    Full/source story

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    A court date has been set for 15th November in Australia where it is expected that a penalty will finally be announced.

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    "The Australian Competition and Consumer Commission has asked the Federal Court to hit We Buy Houses and its owner Richard ‘Rick’ Otton with $20 million in penalties for duping aspiring property investors with claims that they would learn how to buy a home for $1.

    The ACCC’s barrister Simon White, SC, told the court Otton had “absolutely not one whit of contrition or remorse” for his actions and posed a real risk of reoffending if the penalties were not a sufficient deterrent."

    Well whatever you want to say about Ben Rogers,  he followed his hero's business model to the letter.

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    I fell off my chair after reading this thread.

    I genuinely thought you COULD buy a house for £1.

    *****Facepalms******

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    Sign up to my course, i can teach you how to buy a house with a bag of M & M s!

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    Where do I send your 5 grand course fee sir?!

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