A Jimboomba real estate agent has been fined $20,000 after an investigation by the Office of Fair Trading (OFT).
Jody Crosby, director of Jimboomba Real Estate, pleaded guilty in Beenleigh Magistrates Court on March 24 to 102 counts of misappropriating trust money.
She was in breach of the Agents Financial Administration Act, which protects consumers from financial loss when dealing with licenced agents.
The court heard the investigation began after the OFT received complaints from landlords, alleging Ms Crosby had failed to pass on rent money.
In a statement, the OFT said it uncovered a total of $35,000 in misappropriated rent money.
Ms Crosby failed to adequately supervise the operation of the trust account which lead to the shortfall.
No consumers were left out of pocket by Ms Crosby’s misconduct.
In sentencing, the court considered Ms Crosby’s guilty plea, her cooperation with the OFT’s investigation, and that no consumers remained out of pocket.
Fair Trading executive director Brian Bauer said real estate agents who acted dishonestly discredited others who work professionally and honestly within the industry.
“Agents are placed in a position of trust to handle money belonging to others,” he said.
“Queenslanders have the right to expect that real estate agents will keep records accurately and not misappropriate funds.
“When real estate agents breach laws and industry regulations, the OFT will not hesitate to investigate and pursue charges if required.”
The OFT conducts compliance operations each year, targeting malpractice in the real estate industry, with a particular focus on trust accounting.
Real estate agents and consumers may report suspected misconduct directly to the OFT.
Property transactions rights and responsibilities information can be found at qld.gov.au/fairtrading or 13 74 68.
