Kaye students pursue finance company
Former students of Henry Kaye's $15,000 property investment seminars have launched legal action against Australian Finance Direct, the company which lent them the money to attend the course. The action will test a provision of the Consumer Credit Code which allows borrowers to get out of a contract if the finance company is linked to another that defrauded them. Kaye students say they were duped into joining the courses by believing these were endorsed by ASIC. Many still owe substantial sums of money to AFD. Law firm Slater and Gordon is pursuing the action and says at least 100 former Kaye students are interested in joining.