Agent disqualified for laundering drug money

Staff Reporter

A decision by NSW Fair Trading to cancel a Sydney real estate agent’s licence for his involvement in a drug syndicate has this week been upheld by the Administrative Decisions Tribunal.

Glenn George Farah, the former director and secretary of NG Farah Pty Ltd, was the subject of an Australian Federal Police investigation and subsequent prosecution and conviction.

He was charged with using cheques and electronic transfers to launder a total of $46,450 for a Maroubra drug dealer in 2008.   

The Sydney District Court sentenced Mr Farah to one year and nine months imprisonment in September 2011. 

The court suspended his licence and he was released on a good behaviour bond until June this year.

In October last year, the NSW Office of Fair Trading commenced disciplinary action against Mr Farah as the holder of a real estate agent's licence for recklessly dealing with the proceeds of crime.

“In light of his criminal conviction, Fair Trading directed Glenn Farah to show cause why his licence should not be cancelled,” Fair Trading commissioner Rod Stowe said.

“Licence holders are expected to operate in an honest and professional manner.

“The licensing system is designed to ensure a high level of financial integrity so that consumers face minimal risks and can be confident in their dealings with licensed agents and certificate holders.”

Mr Stowe said Mr Farah’s criminal conviction meant he had ceased to be a fit and proper person to hold a real estate agent's license.

“Fair Trading took the appropriate action and cancelled Glenn Farah’s licence to ensure he could not continue to operate in the NSW real estate industry,” he said.

Mr Farah challenged the licence cancellation and disqualification but following an internal review, the Administrative Decisions Tribunal this week upheld the decision by Fair Trading.

Staff Reporter

A decision by NSW Fair Trading to cancel a Sydney real estate agent’s licence for his involvement in a drug syndicate has this week been upheld by the Administrative Decisions Tribunal.

Glenn George Farah, the former director and secretary of NG Farah Pty Ltd, was the subject of an Australian Federal Police investigation and subsequent prosecution and conviction.

He was charged with using cheques and electronic transfers to launder a total of $46,450 for a Maroubra drug dealer in 2008.   

The Sydney District Court sentenced Mr Farah to one year and nine months imprisonment in September 2011. 

The court suspended his licence and he was released on a good behaviour bond until June this year.

In October last year, the NSW Office of Fair Trading commenced disciplinary action against Mr Farah as the holder of a real estate agent's licence for recklessly dealing with the proceeds of crime.

“In light of his criminal conviction, Fair Trading directed Glenn Farah to show cause why his licence should not be cancelled,” Fair Trading commissioner Rod Stowe said.

“Licence holders are expected to operate in an honest and professional manner.

“The licensing system is designed to ensure a high level of financial integrity so that consumers face minimal risks and can be confident in their dealings with licensed agents and certificate holders.”

Mr Stowe said Mr Farah’s criminal conviction meant he had ceased to be a fit and proper person to hold a real estate agent's license.

“Fair Trading took the appropriate action and cancelled Glenn Farah’s licence to ensure he could not continue to operate in the NSW real estate industry,” he said.

Mr Farah challenged the licence cancellation and disqualification but following an internal review, the Administrative Decisions Tribunal this week upheld the decision by Fair Trading.

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