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Millionaire Burned After Claiming A Special Relationship With The ACCC
Written by Lisa Ptasznik   
Wednesday, 19 May 2010 11:19

Late last year, the ACCC brought proceedings against Refund Home Loan Pty Ltd (RHL) and its founding managing director Wayne Rodney Ormond for making false and misleading representations regarding its alleged special relationship with ACCC, in breach of the Trade Practices Act 1974 (the Act).

Following on from last year's ACCC investigation, the Federal Court has now issued orders declaring that RHL and Mr Ormond have contravened sections 52, 53(e) and 53(d) of the Act.

RHL and Mr Ormond have consented to declarations that they made following false, misleading and deceptive statements made to its franchisees:

  • "Now I've spoken to the ACCC. I've done everything in accordance with the law and the document"
  • "Mate, I've had meetings with Graeme Samuel himself. I have nothing to worry about".

Commenting on the outcome of the decision, ACCC Chairman Graeme Samuels stressed that "using the name of the ACCC or individual ACCC officers as a means of discouraging franchisees from exploring their own legal rights is reprehensible ... and to mislead them in this manner is an abuse of trust."

This article is available in full at Mondaq.

 

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