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Article in latest Comsumer Magazine about ESC
ESC's variable guarantee
5-Jul-2004
Richmastery, also known as the Entrepreneurs Success Centre (ESC), has fallen foul of the authorities again. This time it is in trouble over the terms of a guarantee.
In March last year, Reon Symon attended an options trading seminar promoted by ESC. Reassured by ESC's claim of a "100% money-back guarantee", Reon paid $2990 for the course, plus a further $1646 for computer software.
Reon put his new-found knowledge into practice and quickly lost several thousand dollars. When he asked for a refund, ESC refused to pay up, saying the guarantee was valid only for "15 days after the product or seminar is delivered".
The 15-day limitation was new to Reon. We checked ESC's website, and couldn't find any mention of a time period, though it has subsequently appeared.
Reon filed a claim through the Disputes Tribunal. Before the hearing ESC offered to refund the seminar fee of $2990 but not the cost of the software. Reon went ahead with his Disputes Tribunal claim. He was awarded - and paid - a full refund.
ESC's owner, Phil Jones, has now asked for a re-hearing, on the grounds that he was unable to attend that day, as he had a sick child.
This is not the first time he has contested a finding against his business practices. In April we reported how the Advertising Standards Authority (ASA) ruled that ESC/Richmastery's advertising was "misleading and completely unacceptable". ESC's appeal against ASA's finding was conclusively rejected by the Appeals Board.
We advise extreme caution in dealing with ESC, Richmastery and Phil Jones.
5-Jul-2004
Richmastery, also known as the Entrepreneurs Success Centre (ESC), has fallen foul of the authorities again. This time it is in trouble over the terms of a guarantee.
In March last year, Reon Symon attended an options trading seminar promoted by ESC. Reassured by ESC's claim of a "100% money-back guarantee", Reon paid $2990 for the course, plus a further $1646 for computer software.
Reon put his new-found knowledge into practice and quickly lost several thousand dollars. When he asked for a refund, ESC refused to pay up, saying the guarantee was valid only for "15 days after the product or seminar is delivered".
The 15-day limitation was new to Reon. We checked ESC's website, and couldn't find any mention of a time period, though it has subsequently appeared.
Reon filed a claim through the Disputes Tribunal. Before the hearing ESC offered to refund the seminar fee of $2990 but not the cost of the software. Reon went ahead with his Disputes Tribunal claim. He was awarded - and paid - a full refund.
ESC's owner, Phil Jones, has now asked for a re-hearing, on the grounds that he was unable to attend that day, as he had a sick child.
This is not the first time he has contested a finding against his business practices. In April we reported how the Advertising Standards Authority (ASA) ruled that ESC/Richmastery's advertising was "misleading and completely unacceptable". ESC's appeal against ASA's finding was conclusively rejected by the Appeals Board.
We advise extreme caution in dealing with ESC, Richmastery and Phil Jones.
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