NSW real estate agent gets two-year jail term for fraud

NSW real estate agent gets two-year jail term for fraud
NSW real estate agent gets two-year jail term for fraud

A real estate agent and company director accused of creating fictitious real estate listings to obtain early commissions and defrauding his company’s trust account of $808,173.69 has been handed a two-year jail term after he pleaded guilty to 12 charges in a Parramatta local court in Sydney.

The charges included a number of Crimes Act offences, including fraud and making and using false documents as well as offences under the Property, Stock and Business Agents Act for fraudulently converting money. A number of other charges were admitted and taken into consideration for sentencing.

Shaun Andrew Crockford, from Claremont Meadows, was sentenced to two years’ imprisonment to be served by way of an Intensive Corrections Order commencing 30 March 2016 and concluding 29 March 2018.

Fair Trading Commissioner Rod Stowe said Crockford, who was the sole director and company secretary of Quakers Hill Property Management Pty Ltd, created false contracts for sale of land signed by fictitious vendors and purchasers, false bank account statements, false sales ledgers and false stamped bank deposit slips.

“He was robbing Peter to pay Paul to keep his cash flow going,” he said.

“He fabricated 71 sales contracts for the purposes of drawing commissions from debtor factoring agencies, he provided fabricated records to the agency’s auditors over a number of years and created several fake owner statements issued to landlords detailing remittances that were never paid.

“Mr Crockford also fabricated a sales inspection report, exclusive agency agreement and sales contract document using the name of a former client and used an old contract reference number on the sales document.

“Furthermore, as a result of the defalcation of the trust fund, there was insufficient money to cover genuine purchasers’ sale deposits to account to genuine vendors on five real estate sales transactions in 2015.”

Properties were ‘created’ by Crockford for his fraudulent transactions in suburbs including Kellyville, Rouse Hill, Cherrybrook, Beaumont Hills, Schofields and Castle Hill.

NSW Fair Trading appointed managers over Quakers Hill Property Management Pty Ltd on 9 January 2015.

On 5 November 2015, NSW Fair Trading cancelled Crockford’s real estate agent’s licence and disqualified him from holding a licence for 15 years. He is also disqualified from being involved in the direction, management or conduct of the business of a licensee for 15 years.

 

Tags: 
Fraud Real Estate Agents

Comments

Be the first one to comment on this article
What would you like to say about this project?