realestatebusiness logo
Subscribe to our newsletter SIGN UP

Seven-year ban for trust account breach

02 June 2014 Staff Reporter

A Victorian property manager who stole almost $15,000 from the prospective tenants of five properties has been hit with a seven-year ban.

Twenty-three year-old James-Paul Moularas, who worked for Secure Invest Property Group, stole $14,753 in rent and bond money in late 2012.

Last week, the Victorian Civil and Administrative Tribunal (VCAT) disciplinary inquiry ruled Mr Moularas had failed to place the funds in his employer's trust account, fraudulently omitted to account for money he had received, failed to act fairly and with integrity and engaged in unprofessional conduct.

“[Mr Moularas] engaged in conduct that was unprofessional or detrimental to the reputation or interest of the estate agency industry,” the ruling reads.

According to Consumer Affairs, the agent confessed the theft of trust account money to his employer in November 2012, and the funds have since been repaid to family members.

The tribunal reprimanded Mr Moularas on each of the four allegations and declared him ineligible to hold a licence or to be an agent’s representative until 30 April 2021.

Seven-year ban for trust account breach
lawyersweekly logo
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Network or independent?

Network, the bigger the better
Network, but midsized
Niche group, small and agile
Do you have an industry update?
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.