Stockdale & Leggo Trafalgar estate agent banned over trust account fraud

Stockdale & Leggo Trafalgar estate agent banned over trust account fraud
Stockdale & Leggo Trafalgar estate agent banned over trust account fraud

Consumer Affairs Victoria has ordered that estate agent Scott Hoare may not hold a licence or act as an agent’s representative until October 2024.

Scott Hoare, 40, of Tanjil South, was previously the sole director of SLGH, which traded as Stockdale & Leggo Trafalgar in regional Victoria.

The trust account deficiency was confirmed in early April 2014, after SLGH's trust account auditor advised Consumer Affairs Victoria of irregularities occurring outside the annual audit period beteween July and September 2013.

The Victorian Civil and Administrative Tribunal (VCAT) found that Scott Hoare fraudulently withdrew $37,490 from the trust account.

He also failed to transfer $5,090 of rent into the account after the group’s internal structures brought the matter to the attention of the authorities.

“Scott was expelled from the Stockdale & Leggo group on 19 March 2014 as soon as these issues became apparent, and it was through our due diligence that the authorities were able to act so quickly,” Stockdale & Leggo advised the REB industry website.

According to VCAT, the trust account fraud involved “10 instances of early sales commissions drawn, cash deposits not banked and unconfirmed disbursements” between July 2013 and September 2013, instead for personal purposes including evidence that he had made withdrawals at a casino.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Consumer Affairs VCAT

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