ASIC takes further action against Jamie McIntyre

The Australian Securities & Exchange Commission (ASIC) has appointed liquidators to oversee companies involved in land banking schemes associated with notorious property spruiker Jamie McIntyre.

ASIC’s appointment of liquidators comes after it launched proceedings in the Federal Court against McIntyre in Ausgus 2015 in relation to land banking schemes in Victoria.

In launching the court proceedings, ASIC claimed the land banking schemes were “unregistered managed investment schemes” and McIntyre and companies associated with him had been “unlawfully carrying on an unlicensed financial services business.”

ASIC believes around 100 people have invested in the land banking schemes.

ASIC named eight companies as corporate respondents in its court proceedings; Archery Road Pty Ltd, Bendigo Vineyard Estate Pty Ltd, Secret Valley Estate Pty Ltd, Kingsway South Holdings Pty Ltd, Melbourne Tarniet Estate Pty Ltd, Property Tuition Pty Ltd, Education Holdings Pty Ltd, and Sourcing Property Pty Ltd and today appointed Simon Alexander Wallace-Smith and Robert Scott Woods of Deloitte as joint liquidators of those companies.

Wallace-Smith and Woods had been appointed provisional liquidators of the eight companies in October and delivered a report in December recommending the eight companies should be wound up to enable a liquidator to conduct further investigations into their respective affairs and to identify any recoveries which might be made for the benefit of creditors.

The Federal Court also granted ASIC leave to seek orders at the final hearing of the matter that McIntyre be declared a shadow director of each of the corporate respondents and Jamie and Dennis McIntyre be disqualified from managing corporations.

The matter has been adjourned for a further directions hearing on Friday 8 April 2016. A date for the final hearing of the matter has not been set by the court.

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  • David C says on 17/03/2016 03:47:49 PM

    Good to see ASIC get onto this crook. I was nearly ripped off by him a few years ago in his land banking scheme.

  • Chuck says on 17/03/2016 07:42:40 PM

    Jamie and Dennis, these two should have been found out years back, but ASIC wouldn't listen to us.. Eminis clients will know what I'm talking about!
    Hopefully ASIC finally hit them hard so no others can be taken for a ride!

  • Troy says on 19/03/2016 11:00:18 AM

    McIntyre is just one of many property spruikers who use disgraceful means to make a lot of money and hide their dirty stories. For them it is all about creating illusions about who they are and what they do. The other who needs some ASIC attention in my view is Kevin Young from the Property Club. Just like McIntyre, Young has developed a reputation for bullying his critics with threats of defamation if they dare to speak out about the negative experiences they have had. These property rogues continue to fool the inexperienced (and therefore highly vulnerable) and our legal and authoritative systems allow it all to go on. It seems that if you have enough money to pay the right lawyers you can do whatever you like.

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