A Current Affair crew members have reportedly been stood down amid an internal investigation by Channel Nine.
Reporter Seb Costello and his film crew have been accused of over-zealous filming by Oak Capital’s Mo Ahmed over a segment filmed on Monday, according to The Age.
They were allegedly filming a segment about finance company executive Peter Aquino, who has been forced to close his business Construct Homes after taking loans from Oak Capital.
The Melbourne private credit firm are being sued by the Australian Securities and Investments Commission (ASIC) over allegations of ‘unconscionable conduct’.
While filming a segment on the dispute, ACA’s Costello and his film crew reportedly spotted Oak Capital executive Ahmed and followed him to the nearby Intercontinental Hotel.
Ahmed was said to have entered a bathroom and locked himself in a toilet, with Costello and the ACA crew alleged to have followed him.
A Current Affair crew members have reportedly been stood down amid an internal investigation by Channel Nine. Pictured: Host Allison Langdon
Legal action has reportedly been taken against the Nine Network over the alleged incident, but the broadcaster insisted they believe the claim has ‘no basis’.
A Nine spokesperson told Daily Mail Australia: ‘While we are aware of a range of allegations made against Nine by an individual representing a company facing legal proceedings commenced by ASIC, we believe the legal claim has no basis.’
The footage filmed in question has not gone to air and is not available to watch on ACA’s playback service.
Business owner Aquino told The Age of the incident: ‘I can’t thank ACA enough and thank Seb Costello enough.
‘Losing my business was like losing my child.’
Australia’s financial services regulator has launched federal court action against Oak Capital over allegations made against its lending model.
According to reports, the ASIC claimed Oak Capital engaged in ‘unconscionable conduct to avoid the National Credit Code’ when making up to 47 loans totalling more than $37million from March 2019 to October 2023.
The ASIC claims that Oak Capital’s loans to 72 consumers had interest rates ranging from 11.6 to 23.2 per cent, with fees between 2.2 and 50.1 per cent.
Reporter Seb Costello (pictured) and his film crew have been accused of over-zealous filming by Oak Capital’s Mo Ahmed over a segment filmed on Monday, according to The Age
It is also alleged that Oak Capital’s lending model, which required a company to be named as the borrow, essentially bypassed the National Consumer Credit Protection Act.
‘We want these actions to send a clear message – ASIC is watching, and ASIC will take action,’ ASIC deputy chair Sarah Court told the Australian.
‘As the number of Australians searching for financial assistance increase, the more they are becoming the target of what is known as predatory lending.
‘We see it most commonly when lenders impose unfair high interest rates and fees.’
Daily Mail Australia has contacted Oak Capital for comment.
