Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

<main data-perf-region="main">
Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

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]

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

Fraud

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The multi-national eight-month investigation by WA's major fraud squad, Australian Federal Police and authorities in South Africa and Nigeria has resulted in a year's jail for the convicted mastermind.
Ntuen Promise Ekenmini tried to sell a $780,000 home in the Perth suburb of Falcon using forged documents.
The Nigerian court heard the attempted fraud began when after a property manager of a Mandurah real estate agent was contacted in December 2012 by a man claiming to be the owner of a home managed by the agency.
He requested property documents, which were sent through by the property managers and contact details changed.
He used a Yahoo email address in the name of one of the real owners, who was a Johannesburg resident, and requested that all future correspondence be forwarded to this new email address and all phone contact to be made through a new mobile phone number.
The agency then received a request to sell the property and a sales agreement with false signatures was sent, along with copies of fake passports of the two owners and forged documents purporting to be from the Australian High Commission in Pretoria confirming their identity.
The agency staff became suspicious, WA's fraud squad was contacted and they pretended to go ahead with the sale to try to identify the fraudsters.
"It had generally been thought that people attempting to perpetrate frauds from Nigeria were beyond the reach of the law," Consumer Protection assistant commissioner Gary Newcombe said.
"This prosecution shows that, while difficult, prosecution is not impossible.
"The imprisonment of Mr Ekenmini should send a strong message to other potential fraudsters in Nigeria that they are not beyond the law."
Detective Senior Sergeant Dom Blackshaw of the Major Fraud Squad (WA Police) noted in 2013 the arrest represented a major breakthrough in the investigation of real estate fraud in Western Australia where there were two successful and five attempted frauds reported over the past five years.
“Six of the seven cases involved owners who live in South Africa, have investment properties in Perth which are rented and have had their identities stolen. There is now clear evidence of a link between criminals in South Africa and Nigeria," detective Senior Sergeant Dom Blackshaw said.
The first successful property fraud in Western Australia was reported in September 2010 when home owner Roger Mildenhall, based in South Africa, discovered his investment home in Karrinyup, Perth had been sold for A$485,000 in August 2010 without his knowledge or consent by the agent who was managing the property on his behalf.
In April 2011, a home in Ballajura, another suburb of Perth, owned by a couple who were living in Nigeria at the time, was sold for $410,000 allegedly by Nigerian fraudsters without the knowledge or permission of the real owners. The fraudulent sale was not reported until August 2011 when the owners returned to Perth wanting to inspect the property.
In both these cases the funds were transferred to bank accounts in China.
In November 2011, the Codes of Conduct for WA real estate agents and sales representatives and settlement agents (conveyancers) were strengthened to incorporate strict identity verification guidelines for all transactions, particularly involving overseas owners.
The Western Australian government’s land titles office, Landgate, has also put in place strict fraud prevention measures.
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jchancellor-FAypfDUnLy

Jail for Nigerian mastermind behind 2012 Perth property fraud

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Property fraud is one of the worst nightmares of home owners, with recent reports of unidentified third parties attempting to sell other peoples’ homes while the owner is abroad.
In July, an owner was living in South Africa and <a href="/news/act/absentee-macgregor-landlord-loses-act-home-to-south-african-fraudster">found that his Canberra house had been sold </a>after contacting his ACT property manager, having not received four expected rental payments.
The ACT Police became involved to rectifying the issue.
However, what can you do to ensure that things don't get that far for your property? The Office of Regulatory Services has 15 steps that all property owners can take to protect themselves.
They note that investment properties are generally more at risk than owner-occupied homes.
The 15 steps to take:
<ol>
<li>Before selecting an agent, ask questions about their procedures when dealing with overseas owners. 
</li>
<li>Keep in regular contact with your agent. 
</li>
<li>Pre-establish security questions with your property manager/agent, that only you will be able to answer, and requesting these security questions be used whenever the property manager/agent contacts you. The security questions should be established verbally and not written in an email, as emails may be compromised if the account has been hacked. 
</li>
<li>Regularly check that your property manager/agent has your current and correct contact details on file. 
</li>
<li>Ensure that your property manager/agent has a process in place to verify any requests to change your contact details, for example by sending notifications to both the old and new addresses, both electronic and postal. 
</li>
<li>Ensure that your property manager/agent has your correct signature on file and that they check all signed documents to confirm the signatures match. 
</li>
<li>If travelling overseas, ask a family member or close friend to keep an eye on your property and to keep in contact with your property manager/agent on your behalf. This person should be introduced to the agent by you and security questions should be established for them as well. 
</li>
<li>If possible, keep in touch with neighbours so they can advise you of any changes in the property. 
</li>
<li>Check rental statements regularly. 
</li>
<li>Protect personal information by using secured mailboxes for mail deliveries and shredding or burning letters before disposing of them. 
</li>
<li>Be wary of giving personal and/or financial information to third parties, either by phone or email. 
</li>
<li>When replying to an email, typing the known genuine email address rather than simply clicking the ‘reply’ button – an email may have a hidden address in it. 
</li>
<li>Regularly change passwords for email and banking accounts. 
</li>
<li>Never click on any links contained in emails from unknown sources. 
</li>
<li>Install anti-virus/anti-malware software on personal computers and keep it up-to-date.
</li>
</ol>
 Source: Office of Regulatory Services
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jduke-EHk3XBmHkn

15 steps to avoid property fraud: Office of Regulatory Services

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Overseas scam artists who are targeting tenants under the guise of being international brands are increasingly catching renters in scams, says Certified Practising Real Estate Agents (CPREA) chairman Geoff Baldwin.
In the past week CPREA has received two reports of tenants who were asked to transfer money offshore into accounts they thought belonged to real estate agents.
The accounts were in fact owned by fraudsters looking to get their hands on the tenants’ funds.
The tenants had been responding to online advertisements, which had promoted a Perth property for rent. The owner had no knowledge of the advertisements.
“The fraudster simply chooses a property, usually an apartment in a larger complex and then promotes it at a drastically lower rent than others in that complex so as to attract maximum inquiry,” Baldwin warns.
“In both cases the respondents have been people who are doing it tough and who had found it hard to secure a rental property elsewhere hence are attracted by the lower rent.”
The modus operandi of the scammers is to request a wire transfer to an overseas account. After this point, communication ends, explains Baldwin.
“Sadly, in one of these incidences the tenants, a single mum with a four year old, transferred all of the money they had been saving for months to pay what they thought was the bond on a rental apartment,” he said.
Baldwin provides these tips for avoiding the scams:
<ol>
<li>Be wary of requests to transfer funds offshore 
</li>
<li>Poorly worded emails and misspellings are another bad sign 
</li>
<li>If you think it’s a reputable brand – check if they have an office 
</li>
<li>Email the office directly</li>
</ol>
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Offshore scam artists pretending to be international brands targeting tenants

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The Real Estate Institute of New South Wales is lending its voice to warnings from the New South Wales Minister for Fair Trading about the risk of property fraud. After an <a href="/news/act/absentee-macgregor-landlord-loses-act-home-to-south-african-fraudster">ACT landlord's home was sold</a> without his consent while he was overseas, NSW minister Matthew Mason-Cox advised real estate agents to remain aware of the risks of fraud. “Identity fraud and scams are increasingly common throughout the community and the property industry is not immune to this criminal activity," said Mason-Cox. “Once a fraudster has a target they will contact the managing agent, pretending to be the property owner, and request their address and contact details be changed, cutting the real owner out of future correspondence.
“Soon after this, the fraudsters are back in touch with the agent requesting the property be sold. The intention is that once the property is sold, the fraudsters intercept the settlement paperwork, steal even more of their victim’s identity and ultimately take the proceeds of the sale.”
NSW Fair Trading introduced guidelines for preventing fraud in real estate in 2012, including a proof of identity checklist for vendors.
Malcolm Gunning, president of the Real Estate Institute of New South Wales (REINSW), said the group supports NSW Fair Trading's guidelines. “We take matters of fraud and fraud prevention very seriously,” said Gunning.   “At our recent roadshow events across NSW we spoke to over 1,000 members about possible identity fraud and the key signs to watch for, including requests for contact details to be changed.”   “We have instructed our members to be vigilant and take the guidelines seriously," Gunning said.   “We need co-operation from the public who should be aware that Real Estate professionals will ask them for identification, they should not be offended if an agent seeks extra documentation.     “The NSW Police or NSW Fair Trading should be contacted if identity fraud is suspected," he advised.
YOU MAY ALSO LIKE TO READ: 
<a href="/news/14-anti-fraud-tips-for-investment-property-owners-and-vendors">14 anti-fraud tips for investment property vendors</a>
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jrichardson-uRX5hFdKfN

REINSW lends support to minister's fraud warning

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A former real estate agent, Afif Shaba, has been banned from holding a real estate licence for eight years due to his part in a $50,000 trust account fraud.
Shaba authorised his business, Northern Real Estate Pty Ltd, to fraudulently use $50,000 of trust account money that had been received between January and November 2012 for their own purposes, found the Victorian Civil and Administrative Tribunal.
VCAT found Shaba guilty of conduct that made him unfit to hold a licence.
Shaba was the sole director and officer in effective control. The funds used was tenants’ rent that was owing to the investors, and it was found he breached the Estate Agents Act 1980 by knowingly authorising the business not to retain the funds.
He had withdrawn the trust money to pay business expenses in March 2012. This was due to a downturn leaving him in financial difficulty, and saw Shaba admit this to Consumer Affairs Victoria inspectors.
At one point it was noted that there was a $50,000 deficiency in the trust fund, reduced to $15,000 when he was inspected in November 2012.
Shaba looked to pay back the missing funds, have his accounts audited, sell the business and stop operating as a real estate agent. His agency’s licence was cancelled in March 2013.
He will be eligible for a licence after 9 July 2022.
Edit: The above story has been amended. Details provided by Consumer Affairs Victoria included inaccurate references to agency details.
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Victorian agent banned for eight years after $50,000 trust account fraud

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ACT police are investigating a real estate fraud after a Canberra home sold without the consent of the absentee landlord home owner.
The real estate scam at <a href="/news">Macgregor</a> has all the hallmarks of prior fraudulent sales by overseas fraudsters.
The owner, living in South Africa, discovered the north side house had been sold after contacting her local ACT property manager as she had not receive the past four rental payments. 
ACT Police has taken control of the investigation in consultation with police in South Africa. 
"Police will investigate a series of exchanges which led to the sale of the property without the owner’s knowledge or consent, and the disbursement of the funds generated by the deception," the statement said.
The ACT Attorney General Simon Corbell has warned home owners to be vigilant of scammers.
The details of the Macgregor scam have not been publicly released, but Property Observer notes sales over the period between last October and February this year ranged between $200,000 and $560,000. There was a $335,000 average sale price.
There have been similar cases in WA including two successful sales and six attempted real estate frauds.
The ACT Real Estate Institute CEO, Ron Bell told 2CC Capital Radio that agents and homeowners must be wary as the scammers tend to get through the web.
YOU MAY ALSO LIKE TO READ: 
<a href="/news/14-anti-fraud-tips-for-investment-property-owners-and-vendors">14 anti-fraud tips for investment property vendors</a>
 
 
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Absentee Macgregor landlord loses ACT home to South African fraudster

<html><body>
A Sunbury man appeared in the Melbourne Magistrates Court after the Australian Securities and Investment Commission alleged that he fraudulently obtained more than $1 million from investors.
Barry John Patrick, a 71 year old from Sunbury, Victoria, allegedly obtained the money from 14 investors between 2007 and 2010, telling investors it was to be used to fund a property development.
The Australian Securities and Investment Commission (ASIC) allege that Patrick took some of the funds for personal use, and used some of the money to pay interest payments to past and existing investors and to make loan repayments. According to ASIC, investors were persuaded to refinance their self managed superannuation funds and homes, take out additional loans or use credit cards to pay Patrick.
Patrick has been charged with eight counts of obtaining property by deception, five counts of obtaining financial advantage by deception, one count or theft and one count of running a financial services business without an Australian financial services license.
The charges relate to the three-year period between 2007 and 2010, in which ASIC alleges Patrick formed companies to purchase properties for development and consequently persuaded investors to refinance their homes or self-managed super funds, or take out additional loans or credit cards.
“ASIC allege the funds raised by Mr Patrick were not used to develop the properties, instead, they were used to pay interest payments to past and existing investors and to meet repayments on loans as well as for personal use,” said the regulator.
But this is not the first time Patrick has fallen on the wrong side of the law.
In 2010, Patrick <a href="https://www.asic.gov.au/asic/asic.nsf/byheadline/10-257AD+Melbourne+director+sentenced?openDocument" target="_blank">received a four-month suspended jail sentence</a> and a five-year good behaviour bond after pleading guilty to one charge of carrying on a financial services business without holding an AFS license and three charges of managing a corporation while disqualified.
According to ASIC, during August 2003 and December 2006, Patrick persuaded 40 investors to invest in three companies: E.K.B Properties, Sandgrove Specialised Securities and Cardinia Specialised Securities.
During the time, E.K.B Properties raised approximately $4 million, Sandgrove Specialised Services raised approximately $1.5 million and Cardinia Specialised Services raised approximately $1 million.
<a href="https://www.moneymanagement.com.au/news/superannuation/2014/victorian-charged-with-smsf-property-fraud" target="_blank">According to Money Management</a>, ASIC alleged Patrick and his associate Karl Heinz Veljkovic were pushing investors to roll over their superannuation into self-managed funds and then invest those funds into the three companies.
However, the companies, which were controlled and managed by Patrick and Veljkovic, were placed into liquidation by the Federal Court in 2007 following investigations by ASIC. As of December 2010, ASIC said none of the investors had been repaid.
In 2007, both men consented to Federal Court orders banning them from carrying on a financial services business; parting with any funds that have come into their possession by issuing, selling or offering a financial product; and managing corporations for a period of 20 years.
Graeme Colley, director of technical and professional standards at the SMSF Professionals’ Association of Australia, said these kinds of cases arise from time to time, and are the result of a “failure of the independence between initial advice given to individuals and where the money ends up”.
Colley says cases like this don’t preclude investing your self-managed super fund in property, but says “the hotter it gets, the closer you are getting to the fire”.
As a general rule, Colley says investors should only consider advice from advisers with AFS licenses. This way, if something goes wrong, the investor potentially has some recourse against the licensee and can use formal complaints arrangements.
Colley says it is also important to do your own research and be as thorough as possible. “Make some investigations into who owns the business, the relationship between the adviser and the organisation, and if there are any other real investors,” says Colley.
Patrick is next due to appear in court on 16 September. He faces a maximum 10 years in jail for each of the deception and theft charges, and a maximum jail sentence of two years if found guilty of operating a financial services business without an AFS license.
Parts of this article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Melbourne property developer charged with $1 million fraud

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Real estate agents have been given an official warning to be on high alert for property scams by Attorney-General Simon Corbell after three people were arrested by South African Police over an attempted fraudulent sale of a Western Australian home.
Corbell, who said that it was one of the most serious types of scam, is calling for real estate agents to be on their guard.
"A property scam can result in a home being sold without the lawful owner's knowledge or permission. This type of scam traditionally occurs when the owner lives or is travelling overseas," Corbell said.
"Many professionals apart from those in the real estate industry are involved when a property is sold.”
Each of those professionals must be diligent in checking details, particularly when dealing with overseas transactions, he said.
"Independently confirm any change in contact details for the properties you manage to ensure you are dealing with the real owner.  Signatures should be checked with originals on file.  Have any doubtful documents verified by the issuing authority.”
"Home owners, particularly absentee owners, are also warned to be vigilant.  Have suitable protocols in place, for example, security questions, to prevent the possibility of your home being sold without your knowledge or permission."
Three people were arrested in Johannesburg earlier in the month following a five months investigation by the Major Fraud Squad of the Western Australia Police.
The trio allegedly emailed a <a href="/news">Mandurah</a> real estate agency, which was managing a property owned by a South African person, pretending to be the owner and managed to convince the agency to change the owner’s contact details to their own.
Forged signatures were used, and the <a href="/news/wa/three-arrested-in-south-africa-after-wa-home-sale-scam">property was put on the market before an offer being accepted by the trio</a>.
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Real estate agents put on alert after WA fraud case

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An ASIC investigation found that Shashi Kanta Prasad of Chipping Norton, New South Wales, had created false loan documents for seven clients to achieve loans totalling more than $3.6 million.
She pleaded guilty in the Downing Centre Local Court to making seven false statements, producing 41 fake documents and using those documents to obtain a financial advantage for her employer in the form of commissions.
She was employed by <a href="https://www.rajprasad.com.au/contact" target="_blank">Raj Prasad &amp; Co Pty Ltd</a>, trading as <a href="https://www.platinumaccountants.com.au/" target="_blank">Premium Financial &amp; Retirement Solutions</a>.
She faces a maximum imprisonment of five years for one offence of obtaining a financial advantage by false or misleading statements, a maximum penalty of five years for one offence of intention to defraud by false or misleading statement, a 10 year maximum penalty for one offence of using false instruments, and  a maximum penalty of 10 years for one offence of using false documents.
The Commonwealth Director of Public Prosecutions is prosecuting the case, with sentencing at the Sydney District Court on 18 July 2014.
A previous July 2012 MFAA notice said: "The MFAA Tribunal has expelled Mrs Shashi Prasad from MFAA membership on the basis that she engaged in, or was vicariously liable for conduct of a misleading, deceptive, dishonest or fraudulent nature. The Tribunal had before it four allegations of such conduct."
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Financial advisor found guilty of $3.6 million of loan fraud

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A Melbourne man who claimed to be a financial planner faced the Magistrates’ Court this week, charged over his involvement in a <a href="https://www.smartcompany.com.au/legal/42108-business-group-swindled-out-of-800-000-through-fraud" target="_blank">fraud</a> scheme said to be worth $100 million over 10 years.
<a href="https://www.theage.com.au/victoria/poker-pro-faces-142-charges-over-100m-fraud-20140528-394ev" target="_blank">Fairfax reports</a> Bill Jordanou, 55, faces 142 charges relating to 40 incidents between 2004 and 2013, including more than 100 charges of “obtaining a financial advantage”, often in the form of home loans and electronic transfers into home loan accounts.
Jordanou is also facing charges related to obtaining property by deception, conspiring to defraud the Commonwealth Bank, ANZ Bank, Bankwest, Bank of Melbourne and Bank of Queensland, conspiring to pervert the course of justice, and the theft of a Mercedes-Benz.
Prosecutor Luke Excell told Fairfax Jordanou is “alleged to have drawn funds using false client approvals and invoices … then used it across various property developments as well as maintaining a lifestyle.”
Excell said Victoria Police became aware of Jordanou’s activities, and those of his associates, when the Commonwealth Bank discovered a number of loan applications lodged on behalf of Jordanou’s clients were supported by false documents, including ATO documents, letters of employment and financial statements.
The bank lodged complaints against accounting firm Zaia Arthur &amp; Associates, where Jordanou was working as a “financial adviser” at the time.
SmartCompany attempted to contact Zaia Arthur &amp; Associates this morning but the phone number listed for the firm has been disconnected.
Jordanou’s lawyer, George Defteros, told Fairfax his client has “been waiting for these charges for two-and-a-half years … and we welcome these charges because Mr Jordanou wants to get on with his life”.
Mark Rantall, chief executive of the Financial Planning Association of Australia told SmartCompany there are a number of rules individual investors and small business owners should follow to safeguard themselves against unsound financial advice.
Rantall says the "golden rule" is to always check the qualifications of the person giving the advice and to make sure they are a member of the FPA, which is the national professional association for financial planners.
“The second golden rule is that if something sounds too good to be true, it usually is,” says Rantall. “If you are being offered a get-rich-quick scheme, the risk associated with that scheme will be extraordinarily high.”
“The third rule is that your financial planner should spend more time talking about you and your investments, than themselves and the products they may be offering,” says Rantall.
Rantall says it is also important to make sure your financial plan matches your own personal risk profile, and that your investments are diversified across different products and different asset categories.
“The final thing would be to make sure you keep you to date with your portfolio and that you always feel comfortable with the investments being recommended,” says Rantall. 
A spokesperson for the FPA told SmartCompany individuals and business owners who are concerned about receiving sound financial advice can use the <a href="https://fpa.com.au/find-a-planner" target="_blank">“Find a Financial Planner” function</a> of the FPA’s website to find an expert, as FPA members are held to higher professional standards. 
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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