Consumer Affairs Victoria is taking former real estate agent Justin Scavo, 38, to court for allegedly causing more than $180,000 in trust account deficiencies, and converting that amount to his own use.
At the time of the offences, Mr Scavo, of Mill Park, was the Officer In Effective Control of Scavo Ettia Pty Ltd (ACN 608 194 789), a former Victorian real estate agency that traded as Revolve Real Estate in South Morang.
The alleged offences took place between 11 April 2018 and 14 August 2019.
Several consumers were affected by Mr Scavo’s alleged offending. The Victorian Property Fund reimburses consumers who have lost money through the actions of licensed real estate agents. Over $120,000 in claims against the company have been paid out from the Victorian Property Fund to date.
We took action against Mr Scavo after receiving a number of complaints from people who had bought properties through Revolve Real Estate, but whose deposit money had not been paid following the sale.
Two of the company’s trust accounts were frozen by the Minister for Consumer Affairs in October 2019. The Minister also appointed a statutory manager to wind up the business. The company is now deregistered, and both Mr Scavo’s and the company’s estate agent licences have been cancelled.
Specifically we allege that, while he was acting as Officer In Effective Control, Mr Scavo:
- caused deficiencies totalling $185,320 in trust money on 11 occasions
- fraudulently converted to his own use a total of $185,320 in trust money received and held by him on 11 occasions.
Mr Scavo has been released on bail and the matter is listed for a committal mention on 28 March 2022 in the Melbourne Magistrates’ Court.