Franchisees have been misled by Refund Home Loans' managing director Wayne Ormond who claimed the Australian Competition and Consumer Commission approved the company's treatment of franchisees. Ormond  has been slammed by the ACCC's chairman after a Federal Court ruling that he had contravened the Trade Practices Act.

Ormond admitted to the Federal Court statements such as "Now I've spoken to the ACCC.  I've done everything in accordance with the law" and "Mate, I've had meetings with Graeme Samuel himself.  I have nothing to worry about" were false, deceptive and breached the Act.

ACCC chairman Graeme Samuel said "Using the name of the ACCC or individual ACCC officers as a means of discouraging franchisees from exploring their own legal rights is reprehensible. Franchisors and franchisees have a special business relationship. Franchisees trust their franchisor to provide honest and reliable information as to their own business and about franchising generally and to mislead them in this manner is an abuse of trust."

The court ordered injunctions restraining Refund Home Loans and Ormond from making such representations in the future, corrective statements to all current and some former franchisees, and the implementation of a trade practice law compliance program, including training for Wayne Ormond.