The portrait in the papers did not catch my attention. He did not look like the high-energy educator I knew at all. My wife was the one who spotted the news.

Early this year a group of over 40 Freely students filed claims for the fees that they paid for his options trading course at the Small Claims Tribunal. The claims were filed on account that they signed up for the course because of his trading-related PhD. Subsequently, it was discovered that his so-call PhD is from a degree mill. Mr Clemen Chiang appealed to the High Court eventually. But ultimately, he still lost the case.

I guess appealing to the High Court was the only thing he can do. I heard that refunding the 1st batch of students asking for refund will open the floodgates to the rest of his 6,000+ students. There are already another 400+ students waiting at the Small Claims Tribunal for refund already.

Come to think of it, he is really plain unlucky. There could easily be over 90% of students from any trading school who cannot trade successfully after attending the school. In this business, it really doesn’t matter if your students don’t make it eventually. They always put in caveats, don’t they. It is not like the traditional education. I even know of worse trading schools and they are still running strong! Things may have turned out better if he hadn’t market his course with his PhD. He may still lose his business but at least he will get to keep his earnings so far…

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