The Director of Consumer Affairs Victoria has started criminal action against Harold Simon Michaelis and Boston & Brighton Property Consultants Pty Ltd (Boston & Brighton) (ACN: 603 647 703), for alleged breaches of Victorian estate agent laws.
It is alleged that Mr Michaelis, 58, of Pascoe Vale, and Boston & Brighton Property Consultants, misused $46,250 that was meant to be held in a trust account, fraudulently converting it for their own use.
After receiving a complaint from a vendor, we inspected Boston & Brighton’s trust accounts and discovered the deficiencies.
We found two vendors did not receive funds owing at settlement. One was eventually paid by Boston & Brighton and the other was reimbursed by the Victorian Property Fund.
The alleged offences occurred in 2019 between 5 January and 7 March.
Mr Michaelis was the Officer in Effective Control of Boston & Brighton.
Both accused voluntarily surrendered their estate agent’s licences on 20 April 2019.
A committal mention hearing for the matter is listed at the Melbourne Magistrates’ Court on 14 April 2021.