Former Torquay real estate agent Richard Hayden will face court after allegedly swindling almost $1.6 million from a business trust account.
Consumer Affairs Victoria is taking Hayden, who was formerly a director of Skyline Developments Pty Ltd, to court for allegedly “causing nearly $1.6 million in trust account deficiencies” between January 2018 and July 2019.
He has also been accused of wrongfully converting more than $770,000 of trust account money to his own use.
“Our inspectors reviewed Skyline Developments’ trust accounts after receiving five complaints in late 2018 from consumers whose deposit money had not been paid following settlement, or who had not been reimbursed following the cancellation of a contract of sale,” Consumer Affairs Victoria said.
“Our inspectors seized 36 sale files in January 2019 and issued a statutory notice to Skyline Developments to provide further trust account records.
“Two of Skyline’s trust accounts were frozen by the minister for consumer affairs in March 2019. The minister also directed that the company cease carrying on its business as an estate agent and appointed a statutory manager to wind down the business.
“It is alleged that, while acting as officer in effective control, Mr Hayden caused deficiencies totalling $1,593,926 in trust money on 50 occasions between 18 February 2018 and 7 June 2019 [and] fraudulently converted to his own use a total of $770,067 in trust money received and held by Skyline Developments on 98 occasions between 14 January 2018 and 25 January 2019.”
The matter will be heard in the Melbourne Magistrates Court on January 31.
