Jail term suspended for Sydney inner west leasing agent after rental bond fraud

A jail term has been suspended for a real estate leasing agent in Sydney after he pleaded guilty to stealing more than $210,000 worth of rental bonds refunds while the tenants were still in occupation.

Matthew Thomas Williams was sentenced to two 15-month jail terms for dishonestly claiming the refunds of 42 rental bonds from the NSW Rental Bond Board. 

The jail term was suspended on the condition that the 36-year-old enter a good behaviour bond.

He was disqualified from holding a real estate licence for a period of 10 years.

As a real estate licence holder, Williams had access to the Rental Bonds Online system that enabled him to lodge rental bonds on behalf of his agency’s tenants, which he later refunded into his own account during ongoing leases.

Williams fraudulently accessed the bonds while working at different real estate agencies based initially in Glebe and then Double Bay.

The Minister for Better Regulation Matt Kean told Fairfax Media that Williams had used his position of trust to claim the rental bonds of tenants, and used the money primarily for gambling.

His deception was uncovered and reported to Fair Trading by his employer after a tenant requested a bond refund.