Melbourne Magistrates’ Court has banned Mark William Whittingham as a company director until 2028.
On 27 August 2013, the court disqualified Mr Whittingham, sole director of Victorian rent roll business Connection Blue, from managing any corporation until 1 September 2028.
The business took deposits totalling $292,723 from five estate agents for rent rolls (databases of rental properties that the agent will manage) that it then did not supply, and did not provide refunds.
Mr Whittingham and Connection Blue must also pay nearly $200,000 as compensation to four agents for rent rolls that the business did not supply. This was ordered by the court during legal proceedings brought by Consumer Affairs Victoria in June this year.
In its final orders, the court also required Mr Whittingham and Connection Blue to pay nearly $20,000 in costs, and advertise the court’s decision in the Herald Sun newspaper.
It restrained Mr Whittingham and/or his company until 1 June 2023 from, in relation to rent rolls, mortgage trail books or planning books:
- disbursing, transferring, dealing with, drawing on or disposing of deposits received before sale and delivery
- requesting any money from anyone for access to such assets
- requesting, disbursing, transferring, drawing on or disposing of any payment or other consideration (after this order was made) before delivery.
A mortgage trail is a database of loan details that a broker uses as part of their portfolio. The buyer of a loan trail book is entitled to the trailing commissions on the loans.
Consumer Affairs Victoria has previously issued several public warnings about Mr Whittingham’s business conduct in connection with the sale of rent rolls and loan trail books.