A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Joel Robinson

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

Fraud

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The Gold Coast millionaire businessman and property developer Michael Issakidis has been sentenced to a decade in jail for his involvement in a $135 million tax evasion case, the largest ever successfully prosecuted in Australia.
Issakidis and his co-conspirator, former Ernst &amp; Young executive Anthony Dickson, used a web of companies to evade corporate tax.
The Supreme Court of NSW handed Issakidis the jail sentence, including a non-parole period of seven years and six months, on Thursday.
The frail 73-year-old faced a sentence hearing in the NSW Supreme Court after a jury found him guilty in June last year. There had been four trials.
The Federal Revenue Minister Kelly O'Dwyer said it was the "largest and one of the most complex investigations into tax fraud in Australia's history".
Issakidis had been allowed to return to his Sovereign Island mansion after posting bail of $1.5 million in 2016.
But the authorities held on to more than $40 million in assets including his prestige vehicle collection of several Rolls-Royces, a Lamborghini and an Aston Martin along with two yachts, which were seized during the Australian Federal Police raid (pictured above and below).
Issakidis was arrested at his waterfront mansion and charged with conspiracy to deal in the proceeds of crime and conspiracy to dishonestly cause a loss to the Australian Taxation Office.
The Federal Police allege Issakidis committed tax fraud through his medical company Neumedix and funnelled company funds through offshore accounts.
He initially faced Southport Magistrates Court, where he was refused bail and extradited to Sydney. He’d then been granted bail on the condition he live at his Paradise Point home.
The Australian Federal Police and Australian Tax Office said the arrest was after a seven-month investigation under Project Wickenby, the federal government's pursuit of wealthy alleged tax evaders.
The website of NeuMedix said Michael Issakidis was the commercial connoisseur for NeuMedix.
“A consummate statesman and pragmatist, Michael's legal background coupled with many years of property development provides a tempered prudence when assessing opportunities.”
After their move from Sydney, his wife, the Gold Coast socialite Donrika, once starred in a memorable 60 Minutes segment on the A-List on the Gold Coast in the 1990s. With a downwards sweep of her hand, she indicated she was dressed in "Chanel, Chanel, Chanel."
Issakidis and his wife were unconscious in their car after he failed to turn up to court to be sentenced last October. They were discovered after 22 hours by his brother, Con.
Crown prosecutor Michel McHugh SC noted in court, referring to a psychiatric report, that Issakidis said he was not depressed and that when the couple attempted suicide "we were just two people who wanted to be together".
It's expected he'll apply to be transferred to a Queensland prison on welfare grounds.
The businessman's barrister, Mike Smith, noted that Dickson had been found to be "the predominant player and motivating force behind the conspiracy.
<div class="cq-article-content-paras section">
Dickson was in 2015 sentenced to 11 years' jail, which was later increased to 14 years on appeal. His sentence was the longest ever handed down for tax fraud and money-laundering.
The pair created a web of false identities to aid their deception and siphoned money through the UK, Hong Kong and the UAE via fake domestic and international companies. They deliberately absorbed $450 million of otherwise assessable income through falsely created losses in order to evade $135 million. They profited to the tune of $63 million, spending the money on lavish lifestyles.
The complexity of the offshore companies involved and the fact they were based in secrecy jurisdictions such as the Cayman Islands made the investigation difficult, but sources described the AFP officers involved as "relentless" in the pursuit of both Dickson and Issakidis.
At the centre of the scam was Neumedix Health Australasia Pty Ltd. Issakidis and Dickson caused Neumedix to fake losses on the acquisition of medical technologies. They then used those losses to avoid tax on income generated on the ownership of units in a number of trusts.
</div>
<div class="cq-article-content-media section">"These trusts generated very large taxable profits from their participation in certain financing transactions that were arranged between the offender, ANZ and some of its clients," according to court documents obtained by the Australian Financial Review.</div>
 
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j.ballantyne1990-6AQqhLzZaK

Gold Coast property developer Michael Issakidis jailed for tax evasion

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A former real estate agent who misappropriated more than $6 million from clients to fund his lavish lifestyle has asked a Melbourne judge to spare him from prison.
But Tri Duc Ngo, also known as Joseph Ngo, who has pleaded guilty to misusing $6.49 million from trust account funds of 46 clients linked to six LJ Hooker offices in Melbourne, was advised he should serve some time in jail for his crime.
Ngo co-operated six LJ Hooke branches at Glen Waverley, Box Hill, Burwood, Doncaster, Keysborough and Mount Waverley.
County Court Judge Michael Bourke said Ngo, who was reported to suffer psychosis and a schizoaffective disorder, should serve some time in jail.
He spent some of the money on drugs such as ice.
The court heard at a plea hearing in November that Mr Ngo had splashed stolen cash at high-end jewellery stores including Swarovski and Tiffany &amp; Co.
Six LJ Hooker offices in Melbourne's outer east were closed when Consumer Affairs Victoria was alerted.
Defence lawyer Erol Cinar said the father-of-four should be spared jail because his four-year-old had not yet made lasting memories of his father.
He also argued Ngo was active in his church community.
The court was advised the remorseful Ngo had no intention to return to real estate.
Judge Michael Bourke released Ngo on bail for one day to collect his medications, with plans to remand him in custody on Tuesday before sentencing at a later date.
<div class="tge-cardv2_main">
The judge declared a lesser punishment would be “disproportionate.”
</div>
"The offending occurred over a protracted period between January 2015 and March 2016," crown prosecutor Robyn Harper.
"The offending occurred over a protracted period between January 2015 and March 2016," she said.
"The scale is massive ... (and) there's been no evidence he's repaid the money."
 
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LJ Hooker fraud estate agent set for prison despite plea 

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The ASX share scrip of the valuation company LandMark White has been the victim of fraudulent sales activity.
The company happened across the fraud when 36,000 shares were advised as sold by the company's CEO Brad Piltz.
Greg White, the company chairman, quickly told the ASX the $21,000 sale of the shares was not what it seemed.
An unknown fraudster instructed the brokerage for the sale of Piltz's shares and into a new bank account.
When the sale and fraud was detected, the company broker immediately bought 36,000 shares to offset the sale.
Piltz's shareholding had been on the increase with $200,000 in shares bought in November and December and a further $42,000 this year.
Last year the Gandel family emerged as a substantial shareholder in LandMark White.
In May LandMark White bought MVS National for $16 million.
LMW has around $60 million in gross annual revenues.
It recently has been hit with at least eight valuers leaving including three directors.
It lost several valuers to rival Charter Keck Cramer which has established a Brisbane office.
Led by director Andrew Binney, they include director Michael McClifty and residential development valuer and director Shaun Golden, trade press suggested.
 
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jonathanchancellor-7SQnKwU6yx

LandMark White declare fraudulent activity with its ASX share sale

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Two South Australian property buyers have been defrauded out of $900,000 by scammers using bogus email details to pose as their conveyancers.
The Australian Institute of Conveyancers has referred it to the police.
The institute's South Australian CEO Rebecca Hayes said the scammers sent fake emails to conveyancers' clients last month with instructions on where to send large sums of money for their property settlements.
The cyber scammers intercepted regular emails to changing the bank account details.
"The client then pays money into what they believe is the conveyancer's trust account but unfortunately it's an account owned and operated by the cyber criminal and the money goes there and unfortunately disappears," Ms Hayes said.
Property buyers should verify trust account information before transferring money, and said the scam had claimed other victims interstate.
The scam has occurred previously in Western Australian earlier this year when a father and son buying a property south of Perth uncovered an email scam that could have cost them $200,000.
However, they noticed the email address was slightly different to their agency's and checked before confirming the request was fake.
But an elderly woman has been robbed of more than half a million dollars after scammers pretended to be her settlement agent and convinced her son to transfer cash into a bogus account.
The 83-year-old woman was one of six people targeted by similar cyber attacks in two months.
An email asked for $558,000 as the final payment for the property to be transferred into an account.
By the time the son realised it was fake, it was too late.
In August two clients of another western suburbs settlement agency lost $25,658 after emails were intercepted, and three payments towards property purchases were sent to scam bank accounts.
Rebecca Hayes said efforts were being made to recover the money but the SA scam could potentially cause a property settlement contract to become void if the funds could not be met within the settlement period.
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Settlement conveyancing con by scammers triggers warning to property sellers

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The founder of RAMS Home Loans, John Kinghorn, 76, has been charged with fraud offences after allegedly avoiding taxes worth more than $30 million.
Kinghorn did not enter a plea as he faced Sydney's Downing Centre Court this morning.
The Australian Federal Police (AFP) alleges he fraudulently concealed his beneficial ownership of two companies from the tax office between 2004 and 2007.
He has been charged with dishonestly influencing a Commonwealth public official and defrauding the Commonwealth, after an eight-year investigation.
The maximum penalty for the offences is 10 years' imprisonment.
Court documents show the two companies are Kalomo Pacific leasing and Kalomo Corporation limited, the ABC noted.
The AFR says the charges of fraudulently concealing beneficial ownership and tax evasion against John Kinghorn relate to the sale of RAMS Home Loans in 2007.
The AFP commenced its investigation in June 2009, which the AFR noted was  two years after Kinghorn floated RAMS for $650 million. 
On Friday, 6 October 2017, AFP officers served him a Court Attendance Notice regarding Commonwealth fraud offences.
AFP Assistant Commissioner Neil Gaughan, National Manager Organised Crime and Cyber, said the investigation required extensive cooperation within the Serious Financial Crime Taskforce and with international agencies.
“I’d like to commend the officers involved in this complex and lengthy investigation for their persistence and dedication to ensuring the integrity of Australia’s financial frameworks,” Assistant Commissioner Gaughan said.
“Serious financial crime poses a threat to Australia’s economy, financial markets, regulatory frameworks, superannuation and tax system.
“Commonwealth fraud offences have a significant impact on the Australian public – every dollar represents funds that could have been put to use for the benefit of the whole community.
“This result should serve as a warning that we will use every capability at our disposal to bring allegations of fraud before court.”
The Serious Financial Crime Taskforce is a multi-agency effort targeting serious financial crime in Australia. The taskforce sits within the AFP-led Fraud and Anti-Corruption Centre. Offences targeted by the taskforce relate to serious fraud, money laundering and defrauding the Commonwealth.
Since the Serious Financial Crime Taskforce was established in July 2015, more than 614 audits have been completed and $408 million tax liabilities have been raised. Four people have received custodial sentences following prosecution. There are currently 26 criminal, civil and intelligence matters in progress.
Fairfax Media noted today that news that Kinghorn was facing investigation by the AFP was revealed in a 2014 book on Eddie Obeid by Linton Besser and The Sydney Morning Herald journalist Kate McClymont.
It noted that secret phone taps of Kinghorn and others about a Obeid coal mine were supplied to ICAC by the AFP which was conducting its tax-related inquiry.
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RAMS Home Loans founder John Kinghorn charged by AFP with fraud

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A mortgage broker at a Melbourne-based finance broking company has been sentenced to five years jail after pleading guilty to conspiring to defraud financial institutions.
The broker, Najam Shah, was charged during an ASIC investigation into Footscray-based finance broking company Myra Home Loans, which traded as Myra Financial Services (Myra).
The charge relates to Shah's role at Myra and the creation and use of false documents to support loan applications valued at nearly $170 million.
Shah's charge relates to conspiring with others to defraud financial institutions through the provision of false documents in support of loan applications submitted on behalf of Myra clients between about March 2008 and August 2010, the Australian Broker noted.
The fraud relates to submitting false documents for more than 500 loan applications valued at approximately $170 million to banks and financial institutions, including the Commonwealth Bank, Westpac, St George Bank, Bankwest, Adelaide Bank, Bank of Queensland, Choice Home Loans, Citibank, NAB, Pepper Homeloans and Suncorp Bank.
The documents included bank statements, payslips, citizenship certificates and statutory declarations. 
Shah pleaded guilty to one charge of conspiring to defraud financial institutions. He must serve three years and three months before being eligible for parole.
On 13 February 2017, Shah entered the guilty plea during an appearance at the County Court of Victoria. 
Shah’s plea followed his arrest and charge in January 2015. 
In sentencing Shah, Judge Gucciardo noted that mortgage fraud of this nature damages the integrity of the lending system and that Shah's well organised deception enabled such corruption. He further noted that Shah was motivated by greed.
"ASIC will continue to ensure that mortgage brokers who provide false documentation are held to account. Today's sentencing reflects both the severity of Mr Shah's actions and the consequences facing those who do not abide by the law,” ASIC deputy chair Peter Kell said.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions.
The ASIC's probe is still on.
 
 
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Mortgage broker jailed for $170 million fraud

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Newport, Sydney real estate agent Michael Raoul Edwards has been sentenced to three years jail for trust fund fraud.
It is the longest term given for the crime in NSW.
He was sentenced in Downing Centre Local Court on Wednesday to three years in jail with a non-parole period of two years.
Edwards, a former director of real estate agency Pittwater Property Management, Barrenjoey Road, Newport, had pleaded guilty to misappropriating about $400,000 in trust funds.
He ran the business for a decade.
Under the Property, Stock &amp; Business Agents Act 2002, real estate licensees must hold clients' funds in a trust account.
NSW Fair Trading's investigations started in 2013.
He has also been disqualification as a director under the act for eight years.
"Dodgy agents are on notice - I'm putting consumers first," Minister for Better Regulation Matt Kean said.
NSW Fair Trading said no trust fund records were found at Pittwater Property Management, trading as Edwards &amp; Orr, but through the reconstruction of the company's business and co-operation from former clients, they established the fraud.
According to his live LinkedIn account, Edwards was an agent with LJ Hooker for eight years from 1996.
He recently founded a real estate agency community online platform called<a href="https://localagentsites.com.au/" target="_blank"> Local Agent Sites</a> last month.
His application for bail was denied with his appeal will be be heard later this year.
The next biggest jail term for trust fund fraud in NSW after Edwards' sentence was a two year jail term for a Pyrmont agent who defrauded more than $800,000 last year, according to NSW Fair Trading.
The next highest was when former agents Phillip Chau, Roger and Gordana Ocvirk and Mark Kolodynski were jailed for 18 month terms after frauds of between $330,000 to $1.4 million.
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Newport agent Michael Edwards gets longest trust fund fraud sentence

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A former broker has been handed an eight year, nine-month sentence for a $1.9 million fraud related to his company Adelaide Lending Centre.
The district court judge who handed down the sentence to former broker Michael Samra has described the $1.9 million case as “a consistent and persistent demonstration of fraud” through actions that were “premeditated, deliberate and repetitive”.
In the final ruling, Her Honour Judge Geraldine Davison described the circumstances which led to Samra pleading guilty to six counts of deception, according to the Mortgage Broker.
Samra’s broking business, Adelaide Lending Centre (ALC Group), was formed on July 13, 1999 at which time Samra was co-director and shareholder along with his wife. He became the sole director on 19 May 2009.
ALC Group was placed into voluntary liquidation on August 6, 2009 after a letter of demand. The liquidation was completed on August 19, 2015.
Meanwhile, Samra himself became bankrupt on 3 March 2010 and was discharged from bankruptcy on 30 October 2013.
Samra's modus operandi included getting a number of individuals to invest funds which would then be lent to clients in the building industry with promises of high interest rates (30% for 30 days). However, Judge Davison gave several examples of how these funds did not make it to either builders or developers and were instead paid to other investors dealing with the firm.
The fact that funds were immediately sent out to various investors meant that Samra was effectively “robbing Peter to pay Paul”, she said.
“There is ongoing litigation by some creditors to recover moneys lost in their investments with the ALC Group. The total amount of money invested with the group by the investors who are the subject of the charges totals just over $1.9 million,” the judge said.
“Contrary to the representations that had been made by you in January 2009, the amount of $150,000 and the amounts of $50,000 and $70,000 were not lent to builders or developers but instead were paid to other investors in the ALC Group,” she said of one case.
ASIC began investigating the ALC Group in September 2009.
“ASIC investigated the collapse of your group and conducted a reconstruction in relation to the invested deposits through your group for the period from 1 January to 31 July 2009. That reconstruction shows that in that period there were deposits into your bank account totalling over $66m. Investor deposits totalled $58m and there were further miscellaneous deposits of over $7m,” the judge said. 
ASIC found that payments from Samra’s bank account totalled over $67 million with payments from investors equalling $64 million.
In determining the sentence, Davison considered the impact of these actions on investors with ALC Group.
“These people have been generally hardworking individuals who have been striving to do their best to provide for their families and their own retirements,” she said. 
“Each of them has been significantly financially disadvantaged by your behaviour. Beyond that, of course, they have the devastation and stress that comes from financial difficulties and the effect of having so badly judged the situation as they see it.” 
“You knew that you had this significant financial difficulty that was unlikely to be resolved when you sought and obtained the funds that were used to prop up the business, knowing at the time when you obtained them that there was little, perhaps no prospect that they would be repaid.” 
Davison did acknowledge Samra’s personal circumstances, noting that he had no ability to make reparations for his actions. She also recognised the stress Samra would have been under while trying to keep his business afloat. This led to two suicide attempts, hospitalisation and psychiatric treatment in July 2009.
“However, these factors, whilst they would have impaired your judgment significantly, do not mean that you were unaware of the nature and quality of your actions,” she said.
In deciding the sentence, Davison took into account a range of factors, including Samra’s apology and his previous good character, as well as the amount of money involved, a belated guilty plea, and a lack of any reparations made.
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Former mortgage broker handed jail term for $1.9 million fraud

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Businessman Michael King, who was recently penalised by Queensland’s top court for what happened to his investors, says he will contest the ruling all the way to the highest court.
The former MFS chief executive has been ordered to pay $177 million in compensation to investors.
In spite of the court’s ruling, King has a job with Hong Kong billionaire Tony Fung retaining him to advise on his property plans, The Australian Financial Review reported.
The Supreme Court of Queensland last week disqualified former officers and the funds manager of MFS Investment Management Limited (MFSIM) from managing corporations for, ranging from a permanent ban down to five years, and imposed total penalties ranging from $90,000 to $650,000.
The court found Michael King along with Craig Robert White, David Mark Anderson, Guy Hutchings and Marilyn Anne Watts to have breached the Corporations Act.
The breaches were committed in relation to their involvement in the misappropriation of $147.5 million of funds that had been held by the managed investment scheme known as the Premium Income Fund (PIF) on behalf of unitholders. The misappropriated funds were used to pay debts owed by other related entities in the MFS Group (which was subsequently known as Octaviar). The MFS Group collapsed in 2008 owing $2.5 billion.
But King was defiant. “This has a very long way to run," King was quoted as saying by the AFR. "I will take this to the highest court in the country."
About his role with Fung,  King said he was “doing advisory work… when and where I am able to, and when I can add value to the process”.
King has helped Fung buy about $100 million in property mainly on the Gold Coast, including the former MFS-owned properties that were sold to Nathan Tinkler, which became part of Patinack Farms.
An Aquis spokesman defended Fung's selection of King. 
"Fung will use who he wants when he wants as advisers," the spokesman said.
Fung, who also owns the Canberra Casino, joined Chinese developer Tandellen and CCCC International Holding to buy a development site at Surfers Paradise last year for $40 million.
He signed a contract to buy the 11,800 sqm, currently owned by Orix, with King's help.
MFS Ltd was a publicly listed company with interests in financial services, travel and leisure and childcare businesses that was based on the Gold Coast.
The listed company quickly rose to become one of Queensland’s largest corporate giants before its collapse. 
Corporate watchdog Australian Securities and Investments Commission launched proceedings against the former MFS company officeholders and a funds manager in 2009.
In late 2009, the securities watchdog started its civil penalty proceeding against MFSM and the four former officers and a funds manager.
The Supreme Court of Queensland held last year that the four former executives and the funds manager of MFSIM had acted dishonestly in their roles.
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Former MFS boss Michael King to contest court order of $177 million compensation  

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Two former LJ Hooker Glen Waverley real estate agents charged with misappropriating funds from a trust helped themselves to $4 million but have repaid some of it, a court has heard.
Tri Duc (Joseph) Ngo and Truc Thanh (Judy) Nguyen are charged with misappropriating funds, after the final loss was calculated at $2.1 million, Fairfax media reported.
JNT operated businesses including LJ Hooker branches in Keysborough, Mount Waverley, Glen Waverley, Burwood, Doncaster and Box Hill.
Joseph Ngo has indicated he will plead guilty to about 300 charges, but his wife, Judy, may fight the charges.
Ngo says he was the only one with access to the trust account and he was the one who conducted the offending.
Tri Duc Ngo , a former Glen Waverley real estate agent, and his wife are accused of dozens of electronic transfers from rental and sales trust accounts into a company JNT Law Investments for its own use.
In the Melbourne Magistrates Court today, the lawyer for the accused, Erol Cinar, asked for a five-week adjournment of the matter, saying he was going overseas for a week and needed to meticulously analyse voluminous files. 
Nine internal Consumer Affairs witnesses and 19 other witnesses were on standby in case they were required to give evidence at a committal hearing.
The case was adjourned until June 2 for committal mention.
Nguyen was recently trading again, working as a business development manager at Springvale Real Estate business, Oz Capital.
Mrs Nguyen, who as at last April had a property portfolio <a href="https://www.domain.com.au/news/lj-hooker-agent-at-centre-of-collapse-claims-she-was-victim-of-elaborate-conspiracy-20160430-goivv4/" title="">estimated at $4.65 million</a>, offered for sale her two Narre Warren North homes earlier last year without success. The two houses are at <a href="https://www.realestate.com.au/property/2-4-cranston-cl-narre-warren-north-vic-3804" target="_blank">2-4 Cranston Close</a> and <a href="https://www.realestate.com.au/property-house-vic-narre+warren+north-122627030" target="_blank">6-8 Cranston Close</a>.
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