Money Maker - s.87B undertaking

Between at least 5 May 1998 and 25 May 1998 Mr Nagel promoted via dejanews.com email news services the Money Maker scheme. Under the Scheme, participants made payments to participate in the Scheme, and received information on how to multiply their money. Mr Nagel promoted the prospect of receiving substantial payments, which formed a substantial part of the inducement to enter into the scheme. The Commission considers that Mr Nagels express or implied representations to members of the public using the Internet that the Scheme was lawful, and would provide participants with large amounts of money, were misleading and deceptive or likely to mislead and deceive, contrary to section 52 of the Act.