The team behind real estate agent LJ Hooker’s Keysborough franchise will face more than 400 charges following allegations of funds misappropriation.
Consumer Affairs Victoria announced on Friday 27 January that it had commenced criminal proceedings in the Magistrates’ Court of Victoria against JNT Law Investments’ sole director Truc Thanh Le Nguyen, also known as Judy Nguyen, and employee agent Tri Duc Ngo, also known as Joseph Ngo.
A filing hearing will take place on Friday 3 February.
JNT operated the Keysborough LJ Hooker franchise, as well as franchises in Glen Waverley, Mount Waverley, Burwood, Doncaster and Box Hill.
Ms Nguyen has been charged with 216 offences and Mr Ngo has been charged with 188 offences for alleged breaches of the Estate Agents Act 1980 relating to keeping accounts of trust money received, wrongful conversion and false accounts, requirements for trust money to be paid into a trust account, and restrictions on agents purchasing property.
Potential penalties include jail time and fines.
The Consumer Affairs Victoria director has approved 58 Victorian Property Fund claims totalling more than $2 million from JNT clients for losses arising from missing trust funds.
The director also authorised an additional 21 claims for rent money from the balance of the estate agent’s rental trust account, totalling more than $34,000.
The Journal reported in April last year that LJ Hooker’s Keysborough office had been shut down amid allegations of misappropriation of client funds.
The company’s head office terminated six franchise branches of LJ Hooker Glen Waverley, including Keysborough, operated by JNT Law Investments, on 21 April due to what it said was “a fundamental breach of its franchise agreements”.
The ABC reported that the franchise agreements were terminated amid allegations that hundreds of thousands of dollars in deposits had gone missing.
