Prosecution

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A former LJ Hooker real estate agent charged with diverting and using millions of dollars of clients' money held in trust accounts plans to plead guilty, but his wife will contest the accusations. 
Tri Duc (Jospeh) Ngo , a former Glen Waverley real estate agent, and his wife Truc Thanh Le (Judy) Nguyen are accused of dozens of electronic transfers from rental and sales trust accounts into a company JNT Law Investments for its own use. 
The couple appeared in court earlier this week for a committal mention.
The couple’s lawyer, Erol Cinar, told the Melbourne Magistrates Court that Ngo was the only one with access to the trust account and he was the one who conducted the offending, Fairfax Media reported.
Truc Thanh Le (Judy) Nguyen would plead not guilty to all charges, Cinar said.
JNT operated businesses including LJ Hooker branches in Keysborough, Mount Waverley, Glen Waverley, Burwood, Doncaster and Box Hill.
Ngo faced 188 charges, with an extra 114 new charges recently added by prosecuting agency, Consumer Affairs Victoria.
His wife was originally charged with 216 breaches of the Estate Agents Act, and has had 113 added, after approval from the Office of Public Prosecutions.
The offences involve taking tens of thousands of dollars at a time from trust accounts, where money is held by agents on behalf of clients.
Lump sums ranging from $500 to $700,000 were allegedly taken from the trust accounts during 2015 &amp; 2016. 
Consumer Affairs has approved 59 property fund claims to JNT clients, exceeding $2 million.
A total of $34,565 has been paid to 21 claimants owed money from the agents’ rental trust account.
The case will return to court on May 19 for further committal mention.
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Former LJ Hooker agent to admit trust account fraud, court hears

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NSW Fair Trading recently prosecuted a licensed real estate agent from the Northern Beaches for fraudulently accessing trust funds for his own use.
Daniel Nicholson was convicted of three offences under the Property Stock and Business Agents Act and sentenced to nine months imprisonment, to be served by way of an Intensive Correction Order. He was also ordered to pay over $92,000 in reparation costs to his victims.
Mr Nicholson was the sole director of Nicholson Property Group Pty Ltd, trading as Kings Northern Beaches.
NSW Fair Trading Commissioner, Rod Stowe, advised that trust account fraud is a serious offence and warns that Fair Trading will actively pursue any persons that fail to comply with trust account obligations. 
“For most people, real estate is the most significant investment they will ever make.
“Real estate agents should be trusted with considerable amounts of money and those who take advantage of this position will be held accountable,” said Mr Stowe.
Over a period of two years from 10 August 2012 to 14 August 2014, Mr Nicholson took over $92,000 from the Kings Northern Beaches Sales and Rental Trust Accounts.
During Fair Trading’s investigation, Mr Nicholson admitted to stealing the funds, which he used to support his gambling habit. 
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Prosecution

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