Latest News

Agent jailed for trust account fraud

3 February 2017

A Sydney estate agent had his appeal overturned against his sentence after fraudulently converting over $600,000.

Barry Goldman, of Leda Real Estate and Portfolio Property Solutions, was convicted under the Property Stock and Business Agents Act, after admitting to taking the money from the real estate’s trust account.

Mr Goldman was unsuccessful in his appeal, and was sentenced to two years’ imprisonment with an 18-month non-parole period for his crimes. 

NSW Fair Trading was first alerted to the case in late 2014, when it found Leda Real Estate Pty Ltd had failed to account for funds, or hold money in trust pending the completion of sales transactions. Further investigations found that over $650,000 was fraudulently converted for personal use by Mr Goldman.

In addition Mr Goldman, who was also the Director of Portfolio Property Solutions Pty Ltd, also fraudulently converted over $20,000 of rental money owed to landlords.

* The Barry Goldman who is subject to this report is not the licenced real estate agent Mr Barry Ian Goldman of Sydney Sotherbys International Realty Double Bay in New South Wales.