He basically sold vulnerable people a dream of higher education, including free laptops, with one of those new bogus private colleges... as long as the students remain enrolled for a certain number of months the college gets gov funds from HECS and PALS and the college then completely loses interest in the student.
Basically, do you want the career of your dreams and a laptop for free.... join us..
The most cynical and exploitative business operation.
Acquire’s former directors — racing identity John Wall, Jesse Sahely, Damien Dau and Mr Demetriou’s nephew, Tim Demetriou — are likely to be grilled under oath as part of the probe, which a court has heard will question what happened to $15m loaned to shareholders, including Andrew Demetriou, and involve a “forensic investigation into misappropriation of funds”, taking in the fate of $22m in overseas transactions.
The ATO is also keen to get its hands on assets, including multi-million-dollar mansions and luxury cars, that it suspects Acquire’s directors failed to disclose to the company’s administrator, a blockbuster Federal Court affidavit sworn by the ATO’s director of significant debt management, Aris Zafirou, reveals.
Andrew Demetriou was never registered with ASIC as a director of Acquire.
But the government departments, which together pumped $107m in contract payments and student loans into Acquire and another $223m into training companies that were formerly subsidiaries of the company, threw their weight behind the ATO effort to ditch the DOCA.
There was “significant public interest” in investigating Acquire because of its “disgraceful” high-pressure sales tactics, exposed in a lawsuit brought by the Australian Competition & Consumer Commission that resulted in a $4.5m fine for Acquire, and the “use of intercompany loans and transactions to divert significant amounts of public funds obtained” under the VET FEE-HELP student loan scheme, federal Education Department official Richard Chadwick said in a letter of support sent to the ATO on June 20.
AD had a choice to do whatever he wanted when he left AFL. He could have made a name for himself in charity or the public good, but his first year out of the job the shit soul prick chooses to exploit vulnerable people at the cost of the taxpayer. Like he needed more money.