The Officer in Effective Control of a former western suburbs estate agency has been charged with diverting more than $150,000 from the trust accounts of his clients.
Amit Miglani was the Officer in Effective Control of SNM Properties Pty Ltd (ACN 153 574 362) trading as the now defunct MIG Real Estate, whose offices in Footscray, Somerton, Derrimut and the Melbourne CBD closed in September 2018.
It is alleged that between November 2017 and September 2018, Mr Miglani, 43, of Abbotsford, made 118 withdrawals of his company’s clients’ trust account funds, totaling about $158,000.
Mr Miglani has been charged under the Estate Agents Act 1980. The maximum penalties applicable to the charges under section 91 of that Act are 10 years imprisonment or 500 penalty units (about $83,000).
He is expected to appear for a Committal Mention hearing at the Melbourne Magistrates’ Court on 23 April 2021.
We investigated Mr Miglani and MIG Real Estate after complaints from consumers in September 2018. Consumers have been refunded lost money via the Victorian Property Fund.