Former Craigieburn estate agent Konstantinos Balasis has been sentenced to a 12-month jail term, with a six month non-parole period, after the Victorian County Court rejected his appeal against sentence.
On 15 August 2014, the court confirmed Mr Balasis’ original jail sentence, imposed by Broadmeadows Magistrates’ Court in November 2013, and also increased the compensation order he must pay to the Secretary to the Department of Justice from $203,992 to $305,092.
Mr Balasis had admitted trust account offences including deficiencies totalling $438,395.
The Victorian County Court’s judgment included holding that that Mr Balasis’ original jail sentence should stand as his offences involved:
- a large sum of money
- a breach of trust
- breaches of both his statutory duty and fiduciary obligations to the consumers.
Mr Balasis was also ordered to pay costs.
Mr Balasis and his company Victorian Realty Group Pty Ltd were licensed estate agents that operated an agency called Century 21 Complete Properties Craigieburn, from 2009 to 2012.
In April 2012, Consumer Affairs Victoria inspected Century 21 Craigieburn’s records and seized documents. This led to the criminal prosecution.
For more information on the original Broadmeadows Magistrates’ Court decision, view Konstantinos Balasis – Court action.
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Mr Balasis is based in Victoria, Australia.