Sydney real estate agent jailed

NSW fair trading commissioner Rod Stowe has welcomed the successful prosecution of Patrick Scott for trust account fraud involving more than $800,000.  The Surry Hills real estate agent was sentenced to 16 months prison with a non-parole period of 12 months last week in Parramatta Local Court.

Mr Scott was also ordered to pay $746,841 to the NSW Property Services Compensation Fund, pay NSW Fair Trading’s professional costs of $3500 and court costs of $162.

Mr Stowe said the custodial sentence reflected the serious nature of Mr Scott’s offences and the large sums of money involved.

“Millions of home-owner and landlord dollars go through trust accounts every year and consumers have the right to have their investments being held in trust by agents kept safe,” he said. “Mr Scott abused this position of trust, by dipping into trust accounts containing hundreds of thousands of dollars belonging to his clients.”

The court heard Mr Scott, as the sole director of CBD Commercial P/L trading as L J Hooker Surry Hills, used $813,936 held in the company’s trust accounts to feed his gambling addiction.

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