THE INSIDER TRADER SCAMS

Neil Jenman believes that 'insider trading' is theft

Neil Jenman has always had an extreme dislike of what he calls the property 'insider traders' - estate agents who buy properties from their clients (often the sick and elderly) for far below their true value. The properties are then re-sold and the agents pocket the easy profits. This is a common real estate crime that Neil Jenman has exposed many times.

In 2000, Neil began his book, Real Estate Mistakes, with the story of an elderly man in a nursing home suffering from Alzheimer's. The man's agent persuaded him to sell his home to the father of one of the agent's salespeople. The home was re-sold immediately for an extra $135,000.

Neil's exposure of this case resulted in defamation proceedings being taken against him. The proceedings were later dropped.

Years later, Neil was still exposing the insider traders often with the assistance of television reporters. Two of his most recent cases were:

An agent bought the home of a sick, elderly woman and then re-sold it and pocketed a quick profit of almost $300,000. Neil received a legal threat over his exposure of this case. Other than being named and shamed on national television, the agent got away with ripping off this elderly lady.

An agent in a remote part of Queensland contacted the owner of a local block of land. The owner lived in Victoria and did not know the local values. The agent bought the block for $60,000 and re-sold it almost instantly for $92,000. The owner was fleeced of $32,000. Jenman dubbed the agent, "The Bushranger of Baffle Creek" and wrote an article about him. A television report was also aired on the activities of "the bushranger" who, to this day, continues to join with the gangs of spruikers and crooks who smear Jenman.

Neil Jenman believes that 'insider trading' is theft. Despite the threats and abuse he receives, Neil has constantly said that insider-trading agents should be jailed. Of course, rogue agents disagree. In response they abuse, threaten and smear him. But Neil Jenman has never ripped off elderly or sick home owners or done any insider trading deals.

FOOTNOTE: Finally, in August 2008, an agent in Melbourne was convicted and sentenced to three years imprisonment for buying the home of an elderly man for $150,000 when the home was worth $300,000. Agents all over Australia should now be quivering in their dirty boots.