The former operator of swim school franchise Jump Loops, which operated a number of local outlets, has been fined $23m for falsely telling franchisees they would be up and running within 12 months.However the fine is unlikely to be paid, with the business now in liquidation.
The federal Court has found Jump Loops promised 174 franchisees that they would be up and running within 12 months.
More than 150 of the franchisees never ended up with a swim school.
Less than $1m of the $24m Jump Loops received was ever refunded.
The action was brought by the Australian Competition and Consumer Commission, which said Jump Loops and related companies are now in liquidation.
Jump! Swim founder Ian Campbell must now to pay $500,000 in compensation to fra…
Read the full article at: https://www.bay939.com.au/news/local-news/126734-liquidated-swim-school-fined-23m
