An agency director based in Melbourne’s north has pleaded guilty in court after allegedly engaging in unlicensed trading and trust account breaches.
A Greenvale agent has appeared in court to fight a conviction after he allegedly sold properties despite his licence having expired, following charges brought by Consumer Affairs Victoria.
Mark Alexander Reuben, the sole director of Reuben Family Pty Ltd, has pleaded guilty to operating his company without a licence and neglecting to complete necessary trust account audits between 2021 and 2024.
The Herald Sun also reported that Reuben admitted that his company made deposits of $305,500 into a NAB everyday account rather than a trust fund.
The lawyer representing Consumer Affairs Victoria, Megan Styles, told the court that the agency entered into exclusive sales authorities with seven properties in Melbourne CBD, while his and his company’s licences were cancelled.
The properties were located on Lonsdale St, William St, A’Beckett St and Spencer St.
Reuben’s company also allegedly deposited $305,500 into the NAB from the properties, with the largest sum being $63,000.
According to his lawyer, Melissa Mahady, there was no suggestion that Reuben was being dishonest or had misappropriated money, as he had an account set up that he initially thought to be a trust account.
According to the Herald Sun, Mahady said the court could consider a without-conviction sentence, and that Reuben would be able to pay a fine.
Under Victoria’s laws, agents who are caught trading without a licence face up to 12 months’ imprisonment or a maximum fine of $100,000.
Reuben is set to return to court for sentencing on 1 June.
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