A real estate agent’s representative who stole nearly $15,000 of trust account money has been reprimanded and declared ineligible to hold a licence or to act as agent’s representative for seven years.
James-Paul Moularas, 23, stole $14,753 in rent and bond money from prospective tenants of five properties at Travancore, Brunswick, Brunswick East, St Kilda East and Preston.
A Victorian Civil and Administrative Tribunal (VCAT) disciplinary inquiry ruled that the Director of Consumer Affairs Victoria had proved allegations that Mr Moularas had, between 11 October and 15 November 2012:
- fraudulently omitted to account for, deliver or pay money he had received or held
- failed to promptly pay all money he had received as an agent’s representative to his employer, Secure Invest Property Group Pty Ltd, or a trust account it had specified
- failed to act fairly and honestly and to the best of his knowledge and ability
- engaged in conduct that was unprofessional or detrimental to the reputation or interest of the estate agency industry.
Mr Moularas confessed the thefts of trust account money to his employer in November 2012. The misappropriated money was repaid by family members.
VCAT found that Mr Moularas stole the money for his own use and was guilty of unprofessional conduct.
The tribunal reprimanded Mr Moularas on each of the four allegations and declared him ineligible to hold a licence or to be an agent’s representative until 30 April 2021.
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