We’re taking action in the Victorian Civil and Administrative Tribunal against an estate agent who allegedly accessed and misused rental bonds funds.
Christopher Paul Kontossis, 36, of Ivanhoe, allegedly misdirected 26 electronic bond claims valued at $21,540 between 29 September 2022 and 16 March 2023. We allege he moved the bond money into three separate bank accounts not attached to the legitimate claimants.
Kontossis was employed as an agent by National Real Estate (Aust) Pty Ltd (ACN 005 500 541), trading as Barry Plant Reservoir, when the alleged conduct occurred. It is not suggested that his employer was aware of these actions, and the agency has since repaid the funds.
Consumer Affairs Victoria has commenced disciplinary proceedings on the grounds that Kontossis:
- did not meet his professional obligations to act fairly, honestly and with due skill, care and diligence, and
- engaged in conduct that was unprofessional or detrimental to the reputation or interests of the real estate industry.
We are seeking cancellation of Kontossis’ estate agent’s licence, and that he be barred from employment as an agent's representative.
Director of Consumer Affairs Victoria, Nicole Rich said that rental bonds are subject to strict protections to keep them safe for renters and rental providers.
‘Any alleged misuse of bond money is extremely serious. Consumer Affairs Victoria will investigate and take action where needed,’ Rich said.