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Director pleads guilty to trust account fraud

Director pleads guilty to trust account fraud

by Reporter 0 comments

A real estate agent who created false listings to obtain commissions and defraud his company’s account has pleaded guilty to 12 separate charges.

Shaun Andrew Crockford of Claremont Meadows was sentenced to two years’ imprisonment for siphoning over $800,000 from his company Quakers Hill Property Management, which traded as Wiseberry Kellyville, according to the NSW Department of Fair Trading.

Fair Trading Commissioner Rod Stowe said Mr Crockford created false contacts for sale of land signed by fictitious vendors and purchasers, false bank account statements, false sales ledgers and false stamped bank deposit slips.

“He fabricated 71 sales contracts for the purposes of drawing commissions from debtor factoring agencies, he provided fabricated records to the agency’s auditors over a number of years and created several fake owner statements issued to landlords detailing remittances that were never paid,” Mr Stowe said.

“Mr Crockford also fabricated a sales inspection report, an exclusive agency agreement and a sales contract document using the name of a former client and used an old contract reference number on the sales document.”

According to Mr Stowe, the misappropriation of funds by Mr Crockford meant there was insufficient money to cover genuine purchasers’ sale deposits to genuine vendors on five real estate sales transactions in 2015.

Mr Crockford avoided a jail term and will serve a two year Intensive Correction Order in the community; he must also complete 32 hours of community service each month, undergo drug and alcohol treatment and remain in NSW.

Mr Crockford ‘created’ properties for his fraudulent transactions in suburbs including Kellyville, Rouse Hill, Cherrybrook, Beaumont Hills, Schofields and Castle Hill.

On 5 November 2015, Fair Trading cancelled Mr Crockford’s real estate agent’s licence and disqualified him for 15 years from holding a licence and from being involved in the direction, management or conduct of the business of a licensee.

[Related: PM director fined for trust account mismanagement]

 

Director pleads guilty to trust account fraud
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