A former Wollongong real estate agency director has been accused of misappropriating a $346,000 deposit from the sale of multiple Central Coast properties for his own private use.
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Christopher Charles Hunt, the 65-year-old former licensee and director of Wollongong Real Estate.Com Pty Ltd, trading as Christopher Real Estate Wollongong, is alleged to have deposited the six figure sum into a Bank of Queensland bank account in the name of his business sometime between September 2010 and February 2011, but then used the money for personal spending.
Court documents lodged by NSW Fair Trading said the money was a deposit for the sale of 11 properties on the Central Coast, which totalled $3.46 million.
Wollongong Real Estate.Com Pty Ltd was formally know as K Hire Pty Ltd from December 2005 to December 2007, when its name was changed to Wollongong Real Estate.Com.
The company was deregistered in November 2011.
Hunt is also accused of ‘‘fraudulently omitting to account for’’ $230,091 in receipts, payments and transactions for the sale of the properties to a company named CEM50 Pty Ltd.
He has been charged with two counts of fraudulently converting money as a licensee under the NSW Property, Stock and Business Agents Act 2002.
Pleas of not guilty were entered to both charges at Port Kembla Local Court on Tuesday.