News:
A NOTORIOUS Queensland promoter jailed in both Australia and the US over his activities involving a string of failed francise operations has been declared bankrupt.
The Federal Magistrates Court has declared Bon Levi aka Ronald Frederick bankrupt.
His bankruptcy follows a creditors’ petition filed by the Australian Competition and Consumer Commission against Mr Levi following his failure to pay $38,000 in costs after an earlier order issued by the Federal Court.
The order was made in 2005 when Levi faced proceedings for breaching the Trade Practices Act.
Court injunctions issued in 2005 against Levi required that for five years he provide a copy of those court orders and details of his previous business experience and aliases to all people he sought to invest in his franchises.
The Federal Court found that Levi had breached the Trade Practices Act when around Australia he promoted from his Gold Coast base distributorships to deliver snack foods, cookies and fruit juices known as the ‘Little Joe’ and ‘Joey’s’ franchises.
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