Former real estate agent jailed by Victoria court for nearly $2 million fraud

Former real estate agent Anthony Vito Brancatella has been sentenced to 40 months in jail by Consumer Affairs Victoria court for swindling nearly $2 million of clients’ money.

He must must serve a minimum of 20 months in prison, it was ruled.

The court issued proceedings agains Brancatella, 43, from Melbourne’s Huntingdale, in March 2015 for 62 counts of wrongful conversion and false accounts under the Estate Agents Act 1980.

In February this year, he pleaded guilty in the County Court of Victoria, admitting to using clients’ money to help run his business and repay debts.

In March last year, Brancatella’s licence was suspended and in June 2015, the Melbourne Magistrates’ Court granted interim injunctions preventing Brancatella to work as a real estate agent.