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From Pushbike to a Private Jet to a Pushbike to ????? Out March 2012
THE GIANT GOVERNMENT REAL ESTATE STUFF-UP!
THE REAL STORY OF HOW THE QLD GOVERNMENT GAVE AWAY $1MILLION
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So how did purchasers each get $125,000 back, in a REAL ‘Nigerian money scam’ that cost $1Million of Qld taxpayer’s money? How was it approved by the QOFT and why did the Minister for Fair Trading go to jail? What was the Premier being Blackmailed over? Why did the Deputy Premier, now current Premier, Anna Bligh, choose to sweep it all under the carpet?
In order to get the public to buy investment properties, the State and Federal Governments now offer incentives for people to invest. That costs Australian Taxpayers Hundreds of Millions of Dollars, perhaps Billions, through reduced stamp duty, NRAS Building Bonus’s and other incentive schemes. According to the latest figures Queensland will be short 56,100 properties over the next few years, which is about what I would have supplied if the Government had not succeeded in closing me down. What does this cost the Queensland voter and taxpayer? I now believe that Property Marketing should be closed down.I want to do that by teaching Real Estate agents how every Property Marketer is still using my formulas and processes, and how Real Estate Agents are losing sales every week to Property Marketers because of my systems. The Federal Government via the ACCC charged me with 55 breaches of the Trade Practices act, which led to a 5-week Federal Court hearing, and subsequent appeal, that cost nearly $30Million. |
The court found in my favour.
Not wanting to miss out on the fun the Queensland State Government also had the Office of Fair Trading (QOFT) pursue me. A taskforce was formed especially just for me, known as “The Untouchables”. They were sent to my office where they camped for months to try and get evidence. After all was said and done, the courts found me innocent. Despite the innocent verdicts the QOFT formed a special tribunal to hear only my client’s cases and the QLD Fidelity Fund paid almost $1 Million from only 8 cases.
Here are the Facts:
| The Investor paid | $164,900 |
| ACCC Expert Valuation | $135,000 (This was his 3rd Valuation, the ACCC lowered it twice) |
| QOFT Iain Herriot Valuation | $90,000 (Fraudulent, Incompetent or just a bad Guess?) |
| QOFT Gift to Purchaser | $125,000 (A Nigerian Money Scam where the QOFT actually paid) |
| Federal Court Judge Value | $164,900 (The Judge worked value out, why couldn’t the Valuers?) |
| The Investor Sold for | $175,000 (Within 12 months of Herriot’s Valuation of $90,000) and after receiving $125,000 handout |
After informing Premier Peter Beattie that the QOFT was giving back $125,000 to each investment purchaser, the Premier realised that this would bankrupt the state of Queensland as another 100,000 claims were ready to be heard; which would have cost billions of dollars. And why wouldn’t investors make a claim? Claiming investors did not have to suffer a genuine loss, and could still sell their property at a profit.
Premier Peter Beattie changed the law so no more claims could occur. So why do I have my own law, made only for me? That’s right, an entire piece of legislation that only applies to one person – ME. How reliable were the valuations that the media and the Government were relying upon? And who benefitted from them?
Why did one of the Big 4 Banks open an entire branch just to finance my clients? That branch went on to be awarded the best branch in QLD and bank manager of the year and it had neither a customer door, nor a single bank teller. I went from a Pushbike to a Private Jet, back to a Pushbike. I went from being asked to have 2 seats on the working party for the new QOFT PAMDA Property legislation to being QOFT’s most wanted man. These fights in court cost the government around $50Million, and cost me everything I had, including my reputation and respect. But what happened to the 5,000 average Australians that I supposedly robbed of $750Million? What sinister fate awaited those that held the properties and kept them for 10 years or more, as I advised them to?
If you have ever invested in Australian Real Estate you need to read this book.
If you are a Real Estate agent and want to help people Invest in property you need to read this book.
If you are going to vote in Queensland you definitely need to read this book.

