A Kyneton woman has been barred from working as an estate agent permanently after taking $193,000 of client trust money and failing to meet multiple legal obligations.
Between 2019 and 2023, Debra Lawry, 55, was the officer in effective control of Bovicelli Investments Pty Ltd (ACN: 634 809 000), trading as Ray White Romsey.
In September 2024, Consumer Affairs Victoria launched legal action against Lawry relating to failures to arrange trust account audits for four financial years.
While the matter was underway at the Victorian Civil and Administrative Tribunal (VCAT), Lawry made herself sole signatory of her business’ trust account and withdrew money illegally.
After the first hearing, the legal action was expanded to include the above breaches.
In making its decision, VCAT noted that Lawry’s conduct was particularly serious, she had damaged the reputation of the industry and was a person from whom the public needs protection.
As well as losing her licence, Lawry was fined the maximum penalty in disciplinary hearings of $5000.
Consumer Affairs Victoria director Nicole Rich welcomed the outcome.
“Trust money is just that – it doesn’t belong to an estate agency but is held on behalf of clients,” she said.
“Agents who deliberately take trust money for their own use should not be working in the industry.
“We’ll continue to hold agents accountable and take strong action where consumer trust is abused.”
As well as the permanent cancellation of her real estate agent’s licence, Lawry may also face future criminal court action, given the seriousness of her offences.
