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A Dandenong agent who misused nearly $75,000 of trust account funds has been sentenced to community service.
Jean-Noel Alain Philippe Gillet will serve a 12-month community corrections order and perform 200 hours of community service for syphoning the money out of the trust account of his agency, Agent 96 Real Estate.
He will also have to pay $74,613 in compensation to the Victorian Property Fund, which provides financial protection for consumers adversely affected by trust account defaults and has already reimbursed a number of Mr Gillet’s clients.
Mr Gillet self-reported his trust account deficiencies to Victoria’s consumer affairs watchdog through both phone call and letter, which may have been taken into account in his sentencing.
The deficiencies took place between March 2019 and January 2020, during which time Mr Gillet withdrew tens of thousands of dollars in increments of $50 to $300.
Altogether, the 941 charges were rolled up into two charges to which Mr Gillet pleaded guilty: causing a deficiency in a trust account and fraudulently converting money for his own use.
Consumer Affairs Victoria director Nicole Rich said this case should remind real estate professionals that anyone who is found to have caused trust account deficiencies will face tough consequences.
“Trust account money belongs to consumers, and agents who misuse it are engaging in serious misconduct.”
“Anyone who misuses trust account funds – regardless of the amounts involved – can face penalties including substantial fines, losing their licence to practise, or jail for more serious offences,” Ms Rich said.
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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