Frankston estate agent Glenn Michael Ryan, 69, has been fined $2000 for failing to have his trust account audited within the allowed time, and ordered to pay $1100 in costs, following a hearing at the Frankston Magistrates’ Court.
Consumer Affairs Victoria initially issued Mr Ryan with an infringement notice after he failed to have his trust accounts audited within three months (as required under the Estate Agents Act 1980) of the 2013-14 financial year. Mr Ryan submitted his audit report to Consumer Affairs Victoria seven months late.
Mr Ryan chose to have the infringement heard in court.
No conviction was recorded.