Master Wealth Control Pty Ltd, which operates under the business name “DG Institute” (DG Institute) has been ordered by the Federal Court of Australia to provide to students who enrolled in the Master Wealth Control (MWC) program between April 2017 and August 2022 a refund equal to the course registration fee paid by that student.
Following proceedings commenced by the Australian Competition and Consumer Commission (ACCC), the Federal Court has declared that DG Institute contravened the Australian Consumer Law by making false or misleading representations and engaging in false or misleading conduct in contravention of section 18, 29(1)(g), 29(1)(m) and 34 of the Australian Consumer Law between April 2017 and November 2022 by:
- Making statements in promotional material and instructional material for the MWC program that represented that the asset protection strategies called the “Vestey Trust” structure taught in the MWC program would enable consumers to protect all of their assets by setting up a specific trust called the Vestey Trust using transaction documents provided by DG Institute, which would provide complete protection from creditors when that protection was not provided by the adoption of those strategies;
- Making statements in promotional material and instructional material for the MWC program which represented that the Vestey Trust structure taught in the MWC program had been tested and upheld as effective by the Full Court of the Federal Court of Australia in Sharrment Pty Ltd v The Official Trustee in Bankruptcy (1988) 18 FCR 449, when it had not.
The Federal Court has also declared that, in making the statements in promotional material and instructional material, and in drafting, reviewing, editing and approving content for the promotional material and instructional material, I was involved in DG Institute’s conduct described above by aiding, abetting and procuring the contraventions and by being knowingly concerned in and party to the contraventions.
The Court has ordered that DG Institute offer each student who enrolled in the MWC program in the period April 2017 to November 2022 a refund equal to the course registration fee paid by that student, plus interest at the pre-judgment interest rate set out in the Court’s practice note (GPN-INT).
Eligible students may choose whether:
1. To accept the redress, in which case they:
a) Will be bound by the order;
b) Will not be able to bring any claim, action or demand against DG Institute in relation to that amount of their loss or damage that has been paid to them as redress (that is, the course fee they paid to DG Institute for the MWC program plus interest);
c) will remain able to bring any claim, action or demand against DG Institute in relation to any other loss or damage they have otherwise suffered;
2. Not to accept the redress, in which case they will be able to bring any claim, action or demand against DG Institute in relation to any loss or damage that they would otherwise be entitled to bring.
So that we can make payment of the redress to eligible students, you must (if you want to accept the redress), send an email to info@dginstitute.com.au within 21 days of receipt of the notice with the following information:
1- Your name and bank account details;
2- Your telephone number;
3- If known or recalled, the name of the corporate trustee established for you during the MWC program.
DG Institute will pay the refund owing to the eligible students as soon as practicable.
Yours sincerely
Dominique Grubisa
Further information can be found in:
• The Court’s judgment at : https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2024/2024fca0344
• The ACCC’s media release at : https://www.accc.gov.au/media-release/dominique-grubisa-and-dg-institute-made-misleading-representations-to-students-in-wealth-seminars
• The Australian Consumer Law (in Schedule 2 to the Competition and Consumer Act 2010 (Cth)) at : https://www.legislation.gov.au/C2004A00109/latest/text