2004; 20 years ago (2004) in Perth, Western Australia
Founder
Timothy Francis (Tim) Johnston
Defunct
2007 (2007)
Fate
Shut down by Australian Securities and Investments Commission
Headquarters
Perth
,
Australia
Products
Firepower Pill
Firepower International was a fraudulent company that advertised as a Hong Kong-based company owned and operated by Global Fuel Technologies Ltd, specializing in technology purporting to reduce the fuel consumption and environmental impact of petrol-operated vehicles.[1] There were other offices in Sydney, China, Rhodes, Athens and Papua New Guinea, according to the now-defunct official company website. However, "in reality it was a handful of people in an industrial estate in Perth", who were conducting a complex of fraudulent operations.[2] The original entity—Firepower Operations Pty Ltd—was a A$1 company, first registered in December 2004, owned by Firepower Holdings Group Ltd, a company with an address in the British Virgin Islands.[3]
Through connections created with Australian federal ministers, trade officials and their networks, the governments of Britain, Russia, Romania and many others were persuaded to believe Firepower offered important solutions to global warming and the peak oil energy crisis.[4] However, after questions were raised about the efficacy of the "Firepower Pill" and related products in reducing engine fuel consumption, the Firepower organisation's principal, Tim Johnston, was claimed by media critics to have perpetrated a large-scale confidence trick or scam and became the subject of investigation by the Australian Securities and Investments Commission (ASIC).[5][6] In July 2011, ASIC banned Johnston from managing any company for twenty years.[7][8]
^Ryle G "Firepower offers pill franchise" Sydney Morning Herald, 17 June 2008
^Sheehan P "Truth almost as sordid as the lies" Sydney Morning Herald 4 May 2009
^Ryle G "Rise of a man with a magic mystery pill" Sydney Morning Herald 8 January 2007
^Ryle G "Pop goes the pill prince" BusinessDay (Australia) 2 May 2009
^"08-163 ASIC launches action in relation to fuel technology company" Archived October 8, 2013, at the Wayback Machine Australian Securities and Investments Commission 21 July 2008
^"Advisor banned for role in Firepower" Money Management, Australia 9 July 2009
^"11–148MR Former Firepower chairman banned for 20 years" at Australian Securities and Investments Commission 21 July 2011
^"ASIC bans Firepower boss for 20 years" ABC News
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