Between $500,000 and $1 million unaccounted at LJ Hooker Surry Hills: NSW Fair Trading

Jonathan ChancellorNovember 8, 2011

NSW Fair Trading now believes somewhere between $500,000 and $1 million is unaccounted for after initial investigations into the LJ Hooker Surry Hills real estate agency.

Following allegations of trust account deficiencies, the Fair Trading Commissioner Rod Stowe says his agency is investigating irregularities in the trust accounts operated by CBD Commercial Pty Ltd, trading as LJ Hooker Surry Hills.

The estimate was confirmed to Property Observer, which published details on the matter on Monday.

Fair Trading appointed an independent manager who went in to operate the agency on Friday, November 4.

The agency operates out of 437 Crown Street, Surry Hills, whose landlord claims he’s owed unpaid rent.

Stowe says any clients of the real estate agency – landlords or buyers and sellers – should contact the independent manager as matter of urgency.

“In particular, this applies to anyone who has purchased a property or entered into a lease using this agency.”

 

 

 

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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