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NSW Fair Trading has disqualified a real estate agent for five years following the misappropriation of trust funds.
NSW Fair Trading has revoked the licence of Epping agent John Kim and banned him for five years after he misappropriated approximately $300,000 in trust funds.
Following an investigation, the watchdog established that deposits at two separate properties had been misappropriated.
Investigators found that a $86,000 deposit from a Castle Hill property and $218,000 from a North Curl Curl property had been fraudulently removed from company accounts.
While Kim’s licence has been cancelled for the next five years, the watchdog said that the investigation was ongoing and may lead to further legal action alongside other government agencies.
NSW Fair Trading commissioner Natasha Mann said the Strata and Property Services Taskforce has been strengthening its regulatory presence across the industry, conducting regular, random, and targeted unannounced audits to ensure agents meet their obligations.
“NSW Fair Trading has taken disciplinary action against more than 50 real estate agents in the last 12 months, suspending and disqualifying licences to protect consumers.”
“This has included for misappropriation of trust accounts, price misrepresentations including underquoting, and failure to submit trust accounts,” Mann concluded.
Since January, the watchdog has also introduced the new “Name and Shame” list, allowing consumers and property professionals to check sanctions against licensed agents.
So far in 2026, the list has highlighted five individuals or companies that have breached Australian laws.
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