Former estate agent Joseph Ngo pleads guilty to trust fund misappropriations

A former LJ Hooker real estate agent has pleaded guilty to misappropriating agency trust fund money.

Tri Duc (Joseph) Ngo was charged with 302 counts relating to electronic transfers of client deposits into the bank account of a company directed by his wife while running LJ Hooker franchise offices in Melbourne's outer eastern suburbs.

Consumer Affairs Victoria agreed to strike out 143 charges as Ngo pleaded guilty before in the Melbourne Magistrates Court on Monday.

A plea hearing in the County Court is scheduled for November 8 and 9.

Ngo was required to surrender his passport, though he doesn't have one, and reside at his Rowville address.

A CAV spokesman said Ngo’s remaining charges included 125 counts of “wrongful conversion and false accounts”, which carried a maximum penalty per offence of “a term of imprisonment of not more than 10 years” or a $77,730 fine under the Estate Agents Act 1980.

His wife Truc Thanh Le (Judy) Nguyen has pleaded not guilty to similar charges.

She is due to appear at the Magistrates Court for a one-day committal hearing on November 1.

The court was previously advised about $4 million had gone missing, but some had been paid back so the total loss was $2.1 million.