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Refund Home Loans managing director Wayne Ormond has found himself in hot water after the Australian Competition and Consumer Commission (ACCC) accused him of breaching the Trade Practices Act (1974).
According to the ACCC, Mr Ormond and his company made false and misleading representations about having a special relationship with the ACCC.
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It is alleged Mr Ormond made statements over a number of years to current and former franchisees to the effect that the ACCC advised Refund Home Loans about their conduct towards franchisees and approved action taken by Refund Home Loans in respect of franchisees and former franchisees with whom it was in dispute.
Mr Ormond told Mortgage Business that he strenuously denied the claims made by the ACCC and would vigorously defend the accusations in court.
“This complaint, by two of my ex-franchisees, was made two or three years ago. I certainly have no issues with my current franchisees and no complaints have been made recently,” he said.
The ACCC has commenced court proceedings against Mr Ormond and Refund Home Loans and a scheduling conference has been listed for 4 December 2009.
