Steve Navra - Economics References Committee 2015-08-06

8.39 Mr Steve Navra was another individual whose name was mentioned in a
number of submissions as an example of a disreputable adviser continuing to operate
in the industry. For example, one investor stated: I have heard that Mr Navra (who provided the advice to my family, friends and I) has moved to Victoria and is again providing advice to unsuspecting investors. I am saddened to hear that this is the case and sincerely hope that his new clients do not have an experience like mine. I think a centralised register where potential clients/investors can check the credentials and history of an advisor would be a prudent mechanism.

8.40 Another investor also observed that Mr Navra was practicing 'wealth
education' seminars in Melbourne.40

40 Name withheld, Submission 56, p. [4]. The author of this submission noted: 'Steve Navra, after
the first successful FOS claim against him immediately declared bankruptcy, relocated to
Melbourne and is now practicing "wealth education" seminars down there. Why is this allowed
to continue?


8.41 It should be noted that ASIC's analysis of Navra Group client files identified clients who may have received inappropriate advice. Accordingly, ASIC has
instructed Navra Group to write to those clients informing them that the advice
provided to them matched some ASIC indicators of inappropriate advice. Even so,
ASIC has not taken any action against Mr Navra, who is not listed on ASIC's
Financial Advisers' Register. The Navra Group went into liquidation in September
2011.41

18.13 In a number of cases cited in this report, the adviser who allegedly provided
inappropriate recommendations no longer holds, or ever held, an ASF licence. In this
regard the committee has named two particular individuals—Mr Peter Holt and
Mr Steve Navra. ASIC has banned Mr Holt for three years for, among other things,
failing to have a reasonable basis for the advice he gave to retail clients but has taken
no action against Mr Navra. Mr Steve Navra was a significant seller of Great Southern
products between 2006 and 2009 and, according to a number of submitters, engaged
in unethical practices. It should be noted that, as a result of its investigations into the
collapse of Timbercorp and Great Southern, ASIC:

Report – Parliament of Australia

 

Sandbach Roberts were looking for $$$'s to start another claim against Navra. Not sure where this has ended up ...

 

Makes my blood boil that spruikers like him continue to get away with it by setting up shop elsewhere to potentially fleece more investors. Navra now operating in Conforming Property Australia and though it's open knowledge, note there's nothing on the site at all to indicate who's running the show. I'm always suspicious of these types of websites, that have no personal profiles at all of the very people whom you're supposed to be dealing with. If the ABOUT US page has nil humans, I switch off and move on pretty quickly.....

 

Here is a link to the hidden videos on that site (have to sign up to view)
Conforming Property Australia

you can see the man himself.

 

What's really interesting is they're using the letters, "CPA". It's the initials of the business, but no doubt they're trying to capitalise on the good will those letters generate.

 

Is it just Steve in the Video's ? or anyone else . don't really want them having my email ...

Cliff

 

no need to sign up, just click on my link. I only watched one and it was steve

 

I clicked on the second one, down in the bottom section. That was Steve too.

 

Steve Navra. Com .Au

Rental Reality has had a makeover by the looks

PricingReality™

 

Interesting quote from the web site

": This article on Conforming Property has been written to create a standard that professional advisers must meet. It has been written to enable advisers to counsel their clients with their Duty of Best Interest in mind. "

My thoughts .....

So someone who has been personally bankrupt and caused significant financial loss to multiple past clients is the person to be creating professional standards ... ???

Sounds like an alternative reality to me ....

Cliff

 

I bet there would be a few people asking themselves that question all the time,How come i am not wealthy..

 

Alternative realities have a long history in the success industry. Back to at least 'Think and Grow Rich'. Some call it challenging orthodoxy or freeing oneself from the shackles of convention. Others call it moral relativism, delusion or nihlism.

To speak with sincerity, and to bring others along for the journey, one must believe. Doubts or inconvenient thoughts limit success and must be banished. What others say is merely opinion which should not be allowed to hold you back. It's like pruning a tree - you cut some things short so that what you want may grow.

Anything, no matter how preposterous, becomes real the moment you think it. The audacity to imagine, to communicate same, and to spread this vision to others is the mark of tranformational politicians, preachers, teachers and ... spruikers.

 

For every alternative reality that succeeds , there would be thousands that don't .

We only here about the successes.

It's called survivorship bias .

Cliff

 

Looks like Steve Navra (Stephen Lance Navra) has reinvented himself as 'Steve Navratil'

 

Fawkner?! Just across from Broady. Way different from most in this industry who base themselves in a swank inner suburb. Although CPA's site says St Kilda Rd which is more like it.

It's not only Steve whose changed what he goes by though. So apparently has his wife (the officer in effective control at Conforming Property Australia ).

She's a Navra for stuff like ABN and the website. Eg Verena Navra ABN 18632241874 | ABN Check & WHOIS results for cparealty.com.au

Ditto on Linked In Verena Navra | LinkedIn But that's an old profile. The clue is the website link - http://www.fppa.com.au/ - is now defunct (and available to purchase!).

On Facebook she goes by Navra White Facebook
However her current Linked in profile (which lists her OIC position) drops Navra completely Verena White | LinkedIn

Name changes and use of what I call parasitic language (eg a business name which capitalises on the high professional repute of others - eg CPAs ) indicates that Navra/Navratil/White et al are no Shakespeareans.

That is a rose by any other name will not smell as sweet. Especially in these days of Google, Facebook, Whois and LinkedIn. Although it might be less burdened by history.

In his favour though he at least put his money where his mouth was, being the biggest loser from this creditors list http://www.ferrierhodgson.com/au/-/...-of-arrangement/scheme-creditors-register.pdf

 

Friggen Hell!

245 pages of creditors - there must be 100 per page with each page containing 200 or so people.

 

i converted the PDF into excel using Cogniview. It's not perfect but over 1.8BN AUD lost. Steve was the third largest with just over $5.46M. His address listed is at Darling Point which is a nice suburb

 

Supreme Court battle prompts call for 'retrospective' fund for financial victims - ABC News (Australian Broadcasting Corporation)

 

Is Roger Fusca still connected with Steve Navra?

 

Link to ABC TV video Supreme Court battle prompts call for 'retrospective' fund for financial victims