Christopher Charles Hunt, 65, has entered in pleas of not guilty to charges at Port Kembla Local Court.
The former Wollongong real estate director has been accused of misappropriating the $346,000 deposit from the sale of Central Coast properties for his own use.
Mr Hunt, former licensee and director of Wollongong Real Estate.Com Pty Ltd, is said to have deposited the money into his business bank account sometime between September 2010 and February 2011 and then used the money for personal spending.
NSW Fair Trading alleges that the money was a deposit for the sale of 11 properties, totalling $3.46 million.
Mr Hunt is also accused of ‘fraudulently omitting to account for’ over $230,000 for the sale of the properties to CEM50 Pty Ltd. Under NSW Property, Stock and Business Agents Act 2002, Mr Hunt has been charged with 2 counts of fraudulently converting money as a licensee.
Wollongong Real Estate.Com, trading as Christopher Real Estate Wollongong, was deregistered in November 2011.