Controversial vocational education broker Acquire Learning has been fined $4.5 million after the Federal Court found the company misled vulnerable students, by convincing them to sign up for courses they were unlikely to complete.

The Australian Competition and Consumer Commission (ACCC) took legal action against the company in 2015, alleging it had engaged in unconscionable conduct and breached consumer law with its telemarketing sales.

In August last year, the ABC's 7.30 program revealed fresh claims that the company was contacting unemployed people who signed up for job alerts with Career One.

The brokers, who were paid $20.20 an hour plus incentives of cash and prizes, told students they could help find them their "dream job" in their local community, and that the Government would cover the costs.

Private training colleges would hire Acquire Learning, and pay them a cut of the Federal Government funding they would receive through the HECS-style loan scheme called VET FEE HELP.

Federal Court Justice Bernard Murphy said while the company only admitted to making calls to eight job seekers, it admitted that the calls were not made by rogue employees but were part of its core business model.

"I infer that these eight instances were not isolated examples," he said.

"Acquire admits that it used undue pressure, unfair sales tactics, made false and misleading representations, did not provide an opportunity for the job applicants to consider the suitability of the courses being offered."

Justice Murphy said the company did not tell applicants they would owe a debt to the Commonwealth.

Justice Murphy said Acquire Learning was "unconscionable" in its targeting of vulnerable students.

"Some job applicants disclosed that they had a learning disability including difficulty reading, mental illness, an inability to complete other education courses, or had only completed school to year seven or ten," Justice Murphy said.

"One job applicant had difficulty understanding and speaking English.

"Notwithstanding this, Acquire induced them to enrol on the spot in a course which they were unlikely to be able to complete and/or which was unlikely to assist them to obtain better employment than if they had not enrolled."

The company went into voluntary administration earlier this month.

Former AFL boss Andrew Demetriou was the executive chairman of Acquire Learning until recently and was a director of Career One, a company that was primarily owned by Acquire Learning.

Acquire Learning was also a major sponsor of Carlton Football Club through Career One, before pulling out of the deal this year.

Justice Murphy said he considered imposing a higher penalty, but considering its "parlous financial situation", believed $4.5 million plus costs would act as a suitable deterrent.

ACCC Commissioner Sarah Court said the ruling set a precedent for other companies taking advantage of vulnerable people.

"The penalty of $4.5 million imposed by the court is the ACCC's second largest consumer protection penalty," she said in a statement.

"Businesses are warned that using unfair sales tactics and making misleading representations to pressure vulnerable consumers is unacceptable."