<p>Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.</p>

<p>The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5481]</p>

<p>The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.</p>

<p>Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.</p>

<p>"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5479]</p>

<p>The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;</p>

<p>The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.</p>

<p>“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5485]</p>

<p>Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;</p>

<p>Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.</p>

<p>The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;</p>

<p>A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5488]</p>

<p>BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;</p>

<p>Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.</p>

<p>Williams said the team spent over a year searching for the ideal site before securing this location.</p>

<p>"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”</p>

<p>The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.</p>

<p>Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.</p>

<p>[smartcode_project_cta:default project_id=136432]</p>


Joel Robinson

BANKSII sales launch in booming East Brisbane apartment market

<p>Sydney developer Deicorp is set to officially open its <a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill-nsw-2154">Showground Village</a> precinct in Castle Hill.</p>

<p>NSW Premier Chris Minns will attend the opening on Sunday August 31, alongside&nbsp;Minister for Planning and Public Spaces Paul Scully, The Hills Shire Council Mayor Dr Michelle Byrne, Landcom CEO Alex Wendler, and Deicorp Founder Fouad Deiri.</p>

<p>There will be a ribbon-cutting ceremony before a tour of the newly opened retail precinct.&nbsp;</p>

<p>&nbsp;</p>

<p>Located just moments from Hills Showground Metro Station, the centre spans 9,500 sqm across four levels and features 26 specialty retailers as well as a 1,400 sqm public plaza, creating a new community meeting point for shopping, dining, fitness, and everyday convenience.&nbsp;</p>

<p>The grand opening will be celebrated with a family fun day, featuring free entertainment, children’s activities, and a Skill Tester Machine with guaranteed prizes ranging from Woolworths gift cards to a $5,000 Flight Centre voucher.&nbsp;</p>

<p>Showground Village forms part of the Hills Showground Station Precinct, an urban renewal initiative led by Landcom and Sydney Metro that will provide for around 2,300 new jobs over the next 20 years and around 9,000 new homes.&nbsp;</p>

<p>Deicorp was recently approved for another new development next door to Showground Village.</p>

<p>The new five residential buildings in the East Showgrounds Precinct, will see another 873 dwellings delivered, as well as&nbsp;3,500 sqm of open public space in the form of landscaped courtyards, a public park and communal outdoor recreational space including a playground, barbeque area, and outdoor seating.</p>

<p>“This approval will allow us to start construction on a range of beautifully designed, conveniently located apartments and create another vibrant, walkable and well-connected community,” said&nbsp;<a href="https://www.apartments.com.au/developers/deicorp" target="">Deicorp</a>&nbsp;Founder Fouad Deiri.</p>

<p>“These new homes will provide their residents with a seamless connection to jobs and services along Metro North West, and the new&nbsp;<a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill" target="">Hills Showground Village</a>&nbsp;retail precinct currently under construction."</p>

<p>Deicorp has several thousand apartments in planning and under construction across Sydney, from Zetland and Five Dock to Crows Nest and Macquarie Park.</p>

<p>[smartcode_project_cta:default project_id=133881]</p>


Deicorp, NSW Premier to officially open Showground Village, Castle Hill’s new retail and hospitality hub

<p>The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.</p>

<p>Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.</p>

<p>Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.</p>

<p>The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.</p>

<p>To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.</p>

<p>Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.</p>

<p>The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.</p>

<p>The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.</p>

<p>Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.</p>

<p>The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

<section data-element_type="section" data-id="b086848">
<p>Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.</p>

<p>They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.</p>

<p>The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.</p>
</section>

<section data-element_type="section" data-id="534a164">
<p>Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;</p>

<p>Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.</p>

<p>“Melbourne is regaining momentum,"&nbsp;Stevens said.</p>

<p>"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.</p>

<p>“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."</p>

<p>Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.</p>

<p>Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.</p>

<p>“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”</p>

<p>Kokoda Property will now progress concept design ahead of a future planning process.</p>
</section>


Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

<p data-end="445" data-start="321">Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.</p>

<p data-end="675" data-start="447">In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.</p>

<p data-end="772" data-start="677">“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.</p>

<p data-end="901" data-start="774">"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."</p>

<p data-end="973" data-start="903">[smartcode_project:default project_id=108747 project_image_fid=193023]</p>

<p data-end="1158" data-start="975">Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.</p>

<p data-end="1397" data-start="1160">Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.</p>

<p data-end="1469" data-start="1399">[smartcode_project:default project_id=108747 project_image_fid=284864]</p>

<p data-end="1786" data-start="1471">Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.</p>

<p data-end="1952" data-start="1788">Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.</p>

<p data-end="2008" data-start="1954">"This is paramount in the current market," Pezet says.</p>

<p data-end="2279" data-start="2010">Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.</p>

<p data-end="2351" data-start="2281">[smartcode_project:default project_id=108747 project_image_fid=190743]</p>

<p data-end="2428" data-start="2353">One of the biggest drawcards to Lagoon has been the size of the apartments.</p>

<p data-end="2567" data-start="2430">"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.</p>

<p data-end="2850" data-start="2569">"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."</p>

<p data-end="2907" data-start="2852">Lagoon is set to complete construction in mid-2026.</p>

<p data-end="2958" data-start="2909">[smartcode_project_cta:default project_id=108747]</p>


Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Jail

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<p class="noindent">Former Double Bay estate agent Ryan Watsford has been sentenced to four years in jail for his part in an alleged drug smuggling operation.</p>
<p class="noindent">Watsford had been an estate agent during the events which are alleged to have taken place between 2016 and 2017.</p>
<p class="noindent">The Sunday Telegraph reported he used his industry knowledge and industry mates to find empty houses in Sydney's eastern suburbs which were then used in the mail shipment of more than 580g of cocaine by a US drug syndicate.</p>
<p class="noindent">One of the empty houses was the <a href="/news/rose-bay-trophy-villa-tivoli-sold-to-entrepreneur-john-szangolies">waterfront Rose Bay mansion which was being bought by the restaurateur John Szangolies</a>, who had paid $16.8 million to the Bartley family with plans on knocking it down.</p>
<p class="noindent">Watsford has been sentenced to a maximum eight years and six months in jail, with a non-parole period of four years.</p>
<p class="noindent">The smuggling ring was accused of attempting to bring in 800 kg of MDMA and millions cigarettes in to Australia.</p>
<p class="noindent"><span>Police found a photo of three US Postal Service receipts relating to packages that had been sent to three Sydney address; 26 Tivoli Ave, Rose Bay, 51 Towns Rd, Vaucluse, and 22 Chisholm St, Darlinghurst.</span></p>
<p>The Rose Bay trophy, Villa Tivoli, had been listed with more than $20 million hopes by the family of racing identity "Melbourne Mick" Bartley.</p>
<p>It was sold in March 2016, with settlement scheduled for July 2016. Neither the vendors or buyers, the Bartley and Szangolies family, knew that their home had been pinpointed for the purpose of the clandestine postal delivery.</p>
<p>Watsford had directly called the owner of the Tivoli Ave property in early July who advised him when she'd be moving out within six days, ie ahead of the July 16 settlement by the new owner.</p>
<p><span>According to documents tendered in the Downing Centre District Court, eight packages containing 985g of cocaine were sent to “Hayes Alan” at 26 Tivoli Ave, Rose Bay.</span></p>
<p>Australian Federal Police intercepted the packages of cocaine on July 13, 2016, at the Australia Post facility at Alexandria.</p>
<p>The parcels were delivered July 15 when Watsford dropped off another member of the syndicate to collect the delivery from the postman. The US pickup guy was immediately arrested.</p>
<p>On June 27, 2016, police had previously intercepted a phone call where Watsford asked another Double Bay estate if the agency was holding any vacant properties, the court documents show.</p>
<p>The agent, who isn’t accused of any wrongdoing or knowledge of Watsford’s plan, advised on the property at 51 Towns Rd, Vaucluse.</p>
<p><span>The </span><span>Sunday</span><span> Telegraph's Brenden Hills coverage recently took out the Scoop Of The Year at the News Awards 2019 for his reporting work</span><span>.</span></p>
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j.ballantyne1990-6AQqhLzZaK

Former estate agent Ryan Watsford sentenced to four years jail

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<p>David Steel, a former Cobden estate agent has been sentenced to three months’ jail after pleading guilty to almost 40 charges relating to mismanagement of his clients’ money, according to Consumer Affairs Victoria</p>
<p>David Alexander Scott Steel, 57, was convicted last month in Warrnambool County Court of 37 charges concerning trust account deficiencies and defalcations. These included fraudulently converting trust money in breach of the <em>Estate Agents Act 1980</em>.</p>
<p>It was reported on his charging <span>that Mr Steel was the sole director of the company when more than $450,000 was found to be missing from the account of Realestate Property Pty Ltd.</span></p>
<p>Mr Steel also gave an undertaking to the court to be of good behaviour for two years.</p>
<p><span>Judge Michael O'Connell said Steel's business approach was "inept and cavalier," The Warranabool Standard reported.</span></p>
<p>The company, Realestate Property Pty Ltd (ACN: 114 758 217), trading as 'David Steel First National', was also convicted and fined $10,000.</p>
<p>Mr Steel and the company also pleaded guilty to a charge of failure to lodge bonds, in breach of the <em>Residential Tenancies Act 1997</em>.</p>
<p>Under Victorian laws, an estate agent has strict obligations to deposit clients’ money into a relevant trust account.</p>
<p><span>The Warrnambool lawyer Kiernan Celestina represented Mr Steel who moved to Vietnam and was travelling back to Australia to attend court.</span></p>
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Former Cobden estate agent David Steel pleads guilty to mismanagement of clients' money

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<p>A former National Australia Bank financial adviser Max Eung has been sentenced to a three years <span>intensive corrections order </span>by the New South Wales District Court for taking $166,000 belonging to his clients.</p>
<p>Mr Eung was convicted on Friday of dishonestly obtaining a financial advantage by taking money from client accounts in 2016.</p>
<p>Max Kiattisak Eung, of Tempe, New South Wales, was sentenced to three years imprisonment to be served by way of an intensive corrections order.</p>
<p>In June 2018, ASIC permanently banned Mr Eung from providing financial services and engaging in credit activities.</p>
<p>Between March 2016 and December 2016, Mr Eung dishonestly obtained a financial advantage of $166,500 from accounts held with MLC Limited and Nulis Nominees (Australia) Limited. The account holders who were his clients did not authorise withdrawal of those funds from their accounts.</p>
<p>Mr Eung also created false bank accounts in the names of clients using their confidential information, made withdrawals from client funds held in false bank accounts and impersonated his clients to attempt to avoid detection.</p>
<p>At the time, Mr Eung was a NAB financial adviser.</p>
<p>Mr Eung was an authorised representative and financial adviser with NAB from 21 May 2015 to 20 December 2016 and a credit representative of a credit licensee from 14 September 2017 to 23 October 2017.</p>
<p>After impersonating his clients to attempt to obtain access to funds in the second false bank account, Eung incorporated a company for the purpose of operating a mortgage broking business.</p>
<p>ASIC found that Mr Eung had engaged in dishonest conduct, was likely to contravene a financial services law, and was not of good character. ASIC also found that Mr Eung was likely to contravene credit legislation and was not a fit and proper person to engage in credit activities.</p>
<p>The matter was prosecuted by the Commonwealth Director of Public Prosecutions after a referral from ASIC.</p>
<p>Mr Eung pleaded guilty to the two offences.  </p>
<p>The action is part of ASIC's Wealth Management Project. which focuses on the conduct of Australia’s largest financial advice licensees – NAB, Westpac, CBA, ANZ, Macquarie and AMP.</p>
<p>As part of its Wealth Management Project, ASIC has banned 60 advisers and three directors from the financial services industry. Three bannings are the subject of appeal.</p>
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Intensive corrections order for former NAB financial adviser Max Eung

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<p>Bogus property developer Maureen Johnston, of Carrum Downs, Victoria has been sentenced in the County Court of Victoria to five years and six months imprisonment.</p>
<p>An ASIC investigation found Mrs Johnston, a former director of Small Business Management Pty Ltd and Investman Nominees (USA) Pty Ltd, deceived victims into investing money in various bogus property developments in the United States and Australia.</p>
<p>The funds were not used for investment purposes, but instead were spent gambling at the Melbourne Crown Casino and paying her personal credit card debt.</p>
<p>The sentencing comes after Mrs Johnston pleaded guilty to three counts of obtaining a financial advantage by deception, totalling $1,027,000.</p>
<p>Many of the victims met Mrs Johnston and her husband, Douglas Johnston, through their close association with the Collingwood Football Club, where friendships were developed before the Johnstons first raised the idea of investing personally through them.</p>
<p>Mrs Johnston must serve a minimum of two years before being eligible for parole.</p>
<p>In sentencing, Her Honour Judge Wilmoth stated Mrs Johnston’s actions were, “intentionally dishonest and blatantly opportunistic” and if it was not for her early guilty plea, the sentence would have been seven years with a period of three years before being eligible for parole.</p>
<p>Judge Wilmoth noted that Mrs Johnston befriended the victims, who included Mrs Johnston’s house cleaner and a patient whom she had met in hospital, before exploiting them for financial gain. Her Honour commented that one of the victim’s description of Mrs Johnston as “absolutely ghoulish, atrocious and heartless” was completely understandable. </p>
<p>The matter was prosecuted by the Commonwealth Director of Public Prosecutions.</p>
<p>On 8 October 2014, charges against Mr and Mrs Johnston were issued.</p>
<p>On 16 December 2015, after a three-day contested committal hearing, Mr and Mrs Johnston were committed to stand trial, entering into pleas of not guilty.</p>
<p>The trial date for Mr and Mrs Johnston was set down for 23 January 2017, however it did not proceed, as Mrs Johnston offered a guilty plea which was accepted on 20 December 2017.</p>
<p><span>Maureen Johnston was accused of using players from the Collingwood Football Club, including Andrew Krakouer, to strike up friendships with fellow club members who then became her targets.</span></p>
<p><span>The Herald Sun reported<span> Mrs Johnston was a member of the exclusive “Black Room”, an invitation-only club where Crown’s biggest spenders can play pokies.</span></span></p>
<p><span><span><span>A trial date for Doug Johnston was set down for April next year.</span></span></span></p>
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$1 million deception against Collingwood AFL supporters sees bogus property developer jailed

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<p class="first-para"><span>A Maroubra real estate agent has been jailed for two years for fraud after admitting to stealing deposits from trust accounts.</span></p>
<p><span>Zacharis Gregory Imisides was sentenced earlier this month to two years imprisonment.</span></p>
<p><span>It will be served through an intensive correction order, which will see him perform 400 hours of community service work and participate in a rehabilitation <span>psychology </span>program.</span></p>
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<div id="adspot-1x1-pos-5" class="ad" data-google-query-id="CMW2zZLd2d4CFUFGKwodL1IBjA">
<div id="google_ads_iframe_/31694718/domain.com.au/news/nsw_3__container__">The 37-year-old estate agent was charged with eight counts of fraudulently converting money, totalling more than $425,000. </div>
</div>
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<p><span>The offences occurred between May 2014 and December 2014 in Marourbra, Pagewood and Kingsford.</span></p>
<p><span><span>Zac Imisides was a real estate agent at Century 21.</span></span></p>
<div id="listing-recommendation-midcontent" class="experiment">
<div class="__domain_group_fe_co_wp_listing_recommendation_experiments___2_0_0" data-renderizr-id="fe-co-wp-listing-recommendation-experiments_1">Minister for Better Regulation Matt Kean said this was another example of a real estate agent “abusing their position and accessing money isn’t theirs”.</div>
</div>
<p><span>“Imisides made transfers after selling seven properties in 2014 but the trust account withdrawals had no connection to the sale of the properties, and he was not authorised to release the sales deposits prior to settlement,” said Mr Kean.</span></p>
<p><span>Imisides was disqualified in 2016 from holding a licence or certificate of registration for eight years.</span></p>
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Maroubra estate agent intensive correctional order for two years

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<p class="first-para">A former LJ Hooker real estate agent with a resumed drug habit has been jailed for five years. </p>
<p>Ngo will be eligible to apply for parole after he has served at least three years.</p>
<p>The sentencing judge described his financial mismanagement akin to a Ponzi scheme.</p>
<p>Joseph Ngo, 37, also known as Tri Duc Ngo, managed accounts of six LJ Hooker franchises in Melbourne’s south-east, including Glen Waverley and Mount Waverley.</p>
<p>Between January 2015 and March 2016, just over $6 million was misappropriated from trust accounts linked to the six offices.</p>
<p>Ngo used just over $2 million of that on clothing, jewellery and drugs, including ice.</p>
<p>The alarm was only raised in April 2016 when Consumer Affairs Victoria was told that the business’ trust accounts were overdrawn.</p>
<p>In sentencing on Thursday, County Court judge Michael Bourke said Ngo’s behaviour was dishonest, harmful and prolonged.</p>
<p>He ruled Ngo needed to be condemned for what he had done as it breached the trust of the victims and their faith in the property system.</p>
<p>Ngo was addicted to heroin and cannabis earlier in life, the judge said, but despite his attempts at abstinence, he spent $300,000 on ice during his offending. </p>
<p>After the sale of Ngo's property, the victims were needing to be repaid $2.1 million from the Victorian Property Fund at Victorian tax payer expense.</p>
<p>Judge Bourke ordered that Ngo repay that money while noting the chances of that compensation occurring were remote.</p>
<p>Ngo pleaded guilty to 48 charges under the estate agents act and two summary offences relating to taking a direct interest in the sales of property.</p>
<p>Defence counsel Erol Cinar had argued that Ngo had shown remorse, had no intention to return to real estate and had a severe mental condition, exacerbated by drug use.</p>
<p>Fairfax Media reported Ngo had been convicted in 2001 of armed robbery and attempted armed robbery, as well as heroin trafficking before that.</p>
<p>Judge Bourke said if not for an early guilty plea, Ngo would have been jailed for seven years.</p>
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Former armed robber turned LJ Hooker Glen Waverley agent sentenced to three years jail 

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<p>Estate agent James Lyons has been sentenced to six years jail, with a possibility of parole after two years, after he pleaded guilty to defrauding clients of $1.6 million.</p>
<p>The Brisbane real estate agent pleaded guilty in Brisbane District Court to three fraud-related charges.</p>
<p>The charges relate to nine complaints over a two-year period. </p>
<p>Judge Brad Farr set a parole eligibility date of August 23, 2018.</p>
<p>Lyons was on a base salary of $800,000 but would earn as much as $2 million a year on commissions as a commercial real estate agent.</p>
<p>Lyons was a finalist as “commercial salesperson of the year” at the Real Estate ­Institute of Queensland’s 2009 industry awards after broking multimillion-dollar deals around the Brisbane port.</p>
<p>He was bailed in late 2013 after being charged by detectives from Mt Gravatt CIB on seven counts of fraud allegedly committed at Chase Commercial’s Newstead office. </p>
<p>The fraud-related charges related to nine victims from his time working for Chase Commercial between 2011-13.</p>
<p>The Crown prosecutor Jane Shaw told Judge Brad Farr that more than $1.05 million had been paid to the victims out of a compensation fund. Lyons had not made any repayments.</p>
<p>His legal-aid barrister, Saul Holt advised he was a diagnosed pathological gambler.</p>
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jonathanchancellor-7SQnKwU6yx

Jail for guilty Brisbane estate agent

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<div>The expatriate Sydney property developer Nati Stoliar has been sentenced to two years jail in the United States, after he pleaded guilty to fraud under the US Clean Air Act.</div>
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<div>His Nevada home has been sold after he was ordered to pay more than US$1.4 million in restitution and to forfeit $4 million in cash in a biofuels fraud case.</div>
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<div>The 64 year old Stoliar, who pleaded guilty in mid-2014 to the fraud, faced a maximum sentence of 20 years in prison.</div>
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<div>The FBI announced earlier this month Stoliar had been sentenced to 24 months in prison along with three years of supervised release. It was for his role in an illegal scheme to generate fraudulent biodiesel credits and to export biodiesel without providing biodiesel credits to the United States. </div>
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<div>As a Sydney property developer Nati Stoliar owned two of the trophy homes of Sydney, Boomerang at Elizabeth Bay and then Villa del Mar at Point Piper.</div>
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<div>His six bedroom, six bathroom US home in Henderson, Nevada was sold under order of forfeiture at US$1,140,000.</div>
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<div>Stoliar's business partner James Jariv was sentenced in federal court in Las Vegas to ten years in prison. Records show other items forfeited included a gold Bulgari chronograph and a diamond tennis bracelet.</div>
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<div>Under the 2009 scheme, Stoliar and his co-defendants were alleged to falsely claim to import, purchase, and blend more than 4.2 million gallons of biodiesel.</div>
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<div>They then allegedly sold the fraudulent RINs (regulatory information notices) generating more than $7 million. </div>
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<div>It was alleged Stoliar and Jariv instructed tanker truck drivers to drive back and forth across the U.S.-Canada border, claiming to be importing biodiesel into the United States and exporting feedstock to City Farm in Canada.</div>
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<div>The trips would generate credits paperwork purporting to show biodiesel production and importation.</div>
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<div>Accounts were utilized in Nevada, Canada and Australia, and transactions were investigated by the U.S. EPA Criminal Investigation Division and the FBI, with assistance from the U.S. Secret Service and the Department of Homeland Security. </div>
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<div>Following his indictment, Stoliar’s arrest was sought by the United States. Located in Poland,<span style="line-height: 1.3em;"> Stoliar returned to the United States to surrender for arrest.</span>
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<div>James Jariv and Stoliar then both pleaded guilty to one count of conspiracy, one count of conspiracy to engage in money laundering, two counts of wire fraud and one count of making false statements under the Clean Air Act. </div>
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<div>“This was an egregious scheme to defraud fuel suppliers, the United States, and a program designed to strengthen our nation’s petroleum independence and improve our air quality” said assistant attorney general John C. Cruden for the Justice Department’s Environment and Natural Resources Division.</div>
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<div>“We will not tolerate such fraud and will vigorously prosecute those who put their own enrichment above our nation’s interests.”</div>
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<div>The image above is of Sydney trophy home <span><span>Villa del Mare, which Stoliar built in the late 1990's.</span></span>
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<div><em>This article first appeared in The Sunday Telegraph.</em></div>
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