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A Melbourne-based real estate agent is facing disciplinary action for allegedly withdrawing over $30,000 from the firm’s trust account.
Consumer Affairs Victoria has revealed that Gaurav Kapoor, a real estate agent based in Melbourne’s western suburbs, is facing disciplinary proceedings for allegedly withdrawing $30,850 from the agency’s trust account.
At the time of the alleged offence, Mr Kapoor served as managing director of Hilton Real Estate, based in Truganina.
The consumer watchdog alleged that Mr Kapoor made 17 separate withdrawals between 25 March and 26 April 2022 after representing a client in the sale of a property in Tarneit.
At the time, Mr Kapoor was the officer in effective control of Om Shri Pty Ltd (ACN: 164 860 682), trading as Hilton Real Estate since November 2020.
Consumer Affairs Victoria stated that they “became aware of the alleged offences after an external auditor discovered the deficiencies”, and revealed that “the money has since been repaid”.
No claims have been made against the Victorian Property Fund, which serves to reimburse consumers in cases where an estate agent, conveyancer or their respective representatives have misused or misappropriated trust money or property in the course of their work.
The matter came before the Victorian Civil and Administrative Tribunal (VCAT) during a directions hearing in October, and an administrative mention has been scheduled for 22 December 2023.
Victoria’s consumer affairs body has pursued a number of agents accused of mishandling trust account funds.
Earlier in the year, a Dandenong agent who self-reported his trust account discrepancies was given a community service order after an investigation by the consumer watchdog.
And a Malvern East agent has his license suspended due to a number of infractions uncovered by consumer affairs, including failing to have his trust accounts audited.
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