Trust account misappropriation lands former agent jail sentence
Former real estate agent representative Dennis Ong, full name Kian Meng Ong, pleaded guilty in Moorabbin Magistrates Court to four counts of fraudulently converting funds received by his employer, totalling some $52,024.90.
Ong was sentenced to a four month jail term, wholly suspended for 18 months, due to the misappropriation of trust account money. He was also fined $2,500 and ordered to pay $114 in costs.
Ong, who managed a portfolio of 150 rental properties at Ray White Oakleigh, changed the account details in the ‘payee’ field on the agency’s computer system to his own private bank account, rather than into the landlord’s account, on four occasions between September 2012 and February 2013.
In February 2013, a landlord complained to the agency about not receiving funds, at which point Ong confessed to his employer.
Ray White Oakleigh contacted Consumer Affairs Victoria (CAV) to notify them of Ong’s actions. Ong admitted his conduct to CAV and arranged to repay the stolen money.
