Former Victorian agent faces over 900 charges relating to trust fund misuse
27 March 2023
In a media release this week, Consumer Affairs Victoria (CAV) outlines the staggering number of trust account breaches achieved by a now-former agent of Dandenong, Victoria. A total of 941 instances of trust fund misuse were identified by CAV after the then-agent decided to report their own personal use of trust funds by letter and phone.
It is alleged that approximately $75,000 in trust account funds were fraudulently converted for the agent’s personal use, between 12 March 2019 and 10 January 2020, while trading as Agent 96 Real Estate.
CAV reports further on the issue in their media release:
Former estate agent facing charges after alleged trust fund misuse
Former real estate agent Jean-Noel Alain Philippe Gillet is facing more than 900 charges after allegedly misusing approximately $75,000 in trust account funds.
Consumer Affairs Victoria Director Nicole Rich said trust account money belongs to consumers, and estate agents who misused trust moneys would be held accountable.
‘Anyone who misuses trust account funds – regardless of the amounts involved - can face penalties including substantial fines, losing their licence to practice, or jail for more serious offences,’ she said.
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Mr Gillet, 63 of Dandenong, allegedly misused trust money between 12 March 2019 and 10 January 2020 while trading as Agent 96 Real Estate.
The combined 941 charges relate to causing a deficiency in a trust account and fraudulently converting money for his own use.
It is alleged that Mr Gillet made multiple transfers of sums between $50 and $300 from his agency’s trust account for his ultimate personal use over the 10-month period.
Consumer Affairs Victoria Director Nicole Rich said trust account money belongs to consumers, and estate agents who misused trust moneys would be held accountable.
‘Anyone who misuses trust account funds – regardless of the amounts involved - can face penalties including substantial fines, losing their licence to practice, or jail for more serious offences,’ she said.
Consumer Affairs Victoria became aware of the alleged offences after Mr Gillet self-reported personal use of trust funds by letter and phone.
Consumer Affairs Victoria became aware of the alleged offences after Mr Gillet self-reported personal use of trust funds by letter and phone.
Two consumers received compensation from the Victorian Property Fund (VPF), which provides financial protection for consumers adversely affected by trust account defaults. To date, Mr Gillet has not repaid the VPF.
The matter will be heard at a committal mention in early May.