The case of a former Ballarat real estate agent charged with misusing nearly $1.5 million in trust account money continues, after facing a Melbourne court on Monday.
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Richard Hayden, 51, was formerly the estate agent and officer in effective control of Skyline Developments Pty Ltd, trading as Hayden Real Estate.
A charge sheet obtained by The Courier reveals the three charges against Hayden, which cover an offending period from January 2018 to January 2019.
Consumer Affairs Victoria, which is prosecuting the case, allege between February 2, 2018 and September 4, 2018, Hayden caused a deficiency of $485,749 of trust money in a Bendigo and Adelaide Bank Statutory Trust Account.
The second charge alleges on or around March 12, 2019, Hayden caused a further deficiency of $962,433.05 - to a total of $1,448,182.05 in trust fund money.
The group also allege that Hayden did "fraudulently convert to his own use" a total of $770,066.55 of money being held by Skyline Developments Pty Ltd to personal bank accounts.
The three charges are a consolidation of the 148 brought to the now Torquay-based former real estate agent.
Hayden appeared at the Melbourne Magistrates' Court on Monday, where the court was told more details of the investigation into his real estate business.
Consumer Affairs Victoria first began investigating Skyline Developments' trust accounts after receiving five complaints in late 2018 from customers who allege to have not been paid follow settlement, or had no been reimbursed following the cancellation of a contract of sale.
Consumer Affairs Victoria seized 36 sale files in January 2019 and issued a statutory notice to Skyline Developments to provide further trust account records.
On March 2019, the Minister for Consumer Affairs, Gaming and Liquor Regulation signed a notice direction Skyline Developments to cease its business as an estate agent, appointing a PricewaterhouseCoopers statutory manager to wind down Skyline developments.
The minister also froze the sales and rental trust accounts registered to Skyline Developments.
Despite the charges being indictable offences, meaning they can be heard in the higher County Court, Hayden had agreed to a summary jurisdiction application in January, with the case being heard in the Magistrates' Court.
The case was adjourned, and Hayden will reappear at the Melbourne Magistrates' Court on January 31, 2023.
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