Boris Real Estate director Suzanne Zvizdalo was handed a three-month jail sentence, suspended for 12 months, according to Consumer Affairs Victoria.
The Sunshine Magistrates Court also imposed a $10,000 fine on the agency, in the Melbourne suburb of Deer Park.
“The company and Ms Zvizdalo failed to account for, deliver or pay more than $15,800 in tenants’ rental money to its clients between August and December 2013,” Consumer Affairs said.
“Ms Zvizdalo also used more than $30,000 of trust money to pay for business expenses, in breach of her trust account obligations.”
Consumer Affairs started criminal action against the Melbourne agency and Ms Zvizdalo after being tipped off by landlords.
Ms Zvizdalo, 32, pleaded guilty to failing to keep proper accounting records and failing to have the company’s trust accounts audited.
The court also ruled that Ms Zvizdalo must pay more than $46,000 in compensation, pay costs of $1,110 and perform 150 hours of community service.
Real Estate Business was unable to reach Ms Zvizdalo for comment. Her mobile phone was switched off, while the agency’s landline is no longer in service.
Boris Real Estate and Ms Zvizdalo had their licences suspended in December 2013 following allegations from landlords that they had not paid rental arrears.
According to ASIC, Boris Real Estate was registered in April 2013.