A real estate agent who misused rent and bond money has had his licence to practice cancelled for 10 years.
Xuan Sang Nguyen, 69, of Springvale, failed to pay property owners the rent payments he was receiving on their behalf and did not get his trust funds audited.
The Residential Tenancies Bond Authority (RTBA) was also unable to account for 6 rental bonds totalling $10,010 paid to Mr Nguyen’s company as the appointed property agent.
As well as being banned from working as an estate agent, Mr Nguyen is also barred from working as an estate agent’s representative for 10 years.
He has also been fined the maximum penalty of $5,000.
We began disciplinary proceedings against Mr Nguyen in the Victorian Civil and Administrative Tribunal (VCAT) in January 2024 after the RTBA raised concerns about potential suspicious transactions.
At the time, Xuan Sang Nguyen worked as Director and Officer in Effective Control at SN Newton Real Estate, which has now been deregistered.
Renters or rental providers who need help claiming a missing bond or other payments can contact us for further assistance.