Henry Kaye under ASIC scrutiny

Real estate investment guru, self-made millionaire and seminar front-man Henry Kaye has come under scrutiny by the Australian Securities & Investments Commission. ASIC claims that Mr Kaye, his business partner Alan Meagher and associated companies National Investment Institute and Novasource Consulting advertised that their training programs and property investment schemes have been endorsed by the regulator.

ASIC says NII has not been endorsed in any way. The regulator is also claiming that Mr Kaye and his companies disseminated false, misleading and deceptive information in relation to “mezzanine” mortgage facilities and related training courses, advice and strategies provided by NII. ASIC has sought an injunction from the court which would prevent Mr Kaye making similar advertisements in the future.