Camel 31
Years ago

'Liar, liar Pants on Fire' Kings

4 Corners ran the story, last night, about Firepower, ex Kings owner. They will repeat it today.
Sad to see, nothing left.

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kad
Years ago

ABC stream of episode;

http://linky.com.au/hhmk7

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Kev
Years ago

THE Australian Securities and Investments Commission has moved against the fuel technology company Firepower in a widespread action that threatens to draw in companies associated with a prominent property developer, one of Australia's top lawyers and a former West Australian police minister.

Read More from The Age (July 22, 2008)

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billo
Years ago

All I can say about this is that Tim Johnson must have been one hell of a good salesman if he was able to sucker in that many people who should know better on the back of a product that can't possibly deliver what it claims to do. Hundreds of companies the world over are investing billions into producing more efficient engines that optimise fuel usage and this guy claims to have come up with a magic pill doing exactly that which he chooses to sell NOT to the global corporate giants with deeeeeeeep pockets but to your average Joe off the street (without the means to test the pill's claims properly) through a direct marketing pyramid scheme. And no one really questions this until it's too late.

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Rat10
Years ago

Yeah, he was a great con artist Billo. This was my post on ozhoops:

Fascinating documentary. It's a great lesson in human psychology - the thinking goes along these lines, "if everybody else, including celebrities, corporate lawyers, high profile propery investors etc are investing in this company there must be some substance behind this and we can make lots of money even if we have never seen any financial statements or a PDS!" If you walk by a restaurant and see that it's full every night you'd probably think, "gee this place must be great if everyone is eating here, I want to eat here too."

Tim Johnston understood this and milked every opportunity he had to be seen with high profile members of government around the world to improve his company's credibility. The guy should write a book, "How to be a con man" cos he was unbelievable at milking everything he could to make investors believe that their fortune was just around the corner.

Interestingly enough it took an accountant to realise this was a sham several years ago and he notified ASIC - unfortunately they did nothing at the time.

It's also a reminder of how greed motivates people and logic and rational thought goes out the window when people have a chance of making loads of money in a short period of time. If something is too good to be true, it often is!

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Ricey
Years ago

found the "documentary" to be really boring to be honest, basically was tired old facts we already knew

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