Former real estate agent Anthony Vito Brancatella has been sentenced to 40 months jail, and must serve a minimum of 20 months, for misappropriating nearly $2 million of clients’ money.
Consumer Affairs Victoria issued proceedings against Mr Brancatella, 43, of Huntingdale in March 2015 for 62 counts of wrongful conversion and false accounts under the Estate Agents Act 1980.
In February 2016, Mr Brancatella pleaded guilty in the County Court of Victoria, admitting he had used clients’ money to help run his business and repay business debts.
In March last year, Mr Brancatella’s licence was suspended and in June 2015, the Melbourne Magistrates’ Court granted interim injunctions preventing Mr Brancatella from acting as a real estate agent.
Estate agents must meet their legal obligations. For more information, view our Estate agents section.
You can check a licensee’s current status on our Public register - search for licensed estate agents page.
Update: in March 2016, Mr Brancatella applied for leave to appeal the sentence passed by Judge Douglas on 10 February 2016. The Court of Appeal refused Mr Brancatella's application on 10 May 2016.