THE company run by Cobden real estate agent David Steel has been charged with seven counts of fraud relating to almost $50,000.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Realestate Property Pty Ltd is in the process of being prosecuted by Consumer Affairs Victoria.
A company search has revealed David Steel is listed as the company’s sole director.
The Standard successfully applied for the charges to be made public after the case was mentioned in the Warrnambool Magistrates Court.
The charges allege that between May 23, 2016, and July 6 last year that $49,324.47 was fraudulently converted from money held as a real estate agent in a trust.
Those transactions included 10 internet BPay payments to Ballarat’s Clarendon College, six payments to Creditline, 17 direct debits to Elders Insurance, 26 internet transactions to a NAB low rate Visa card, 42 internet transfers to a NAB business access card, five internet transfers to an ANZ access advantage account in the name of David Alexander Scott Steel and 14 internet BPay payments to Toyota Finance.
CAV alleges there were 120 bank transfers.
A barrister for CAV successfully requested the case be adjourned until a contest mention on May 21.
The court heard that Cobden real estate agent David Steel was currently in Vietnam and it was not known if he would return.
He has engaged solicitors but they have not, as yet, been paid to undertake work.
Magistrate Cynthia Toose rejected a suggestion the case be moved to Melbourne, saying the charges related to alleged offences in Cobden and the case should remain in Warrnambool, at least until pleas were entered.
The address of Realestate Property Pty Ltd was previously listed as 360 Forest Park Road, Cobrico, which was the previous home address of Mr Steel.
The case first came to police attention in October 2016.
It is understood Mr Steel’s marriage broke down before he travelled to Vietnam.
The family’s five-bedroom Forest Park Road home was sold for $700,000 at auction last December – well under the expected market value.
The 10.5 hectare property includes stables, a swimming pool and stunning landscape views.
On the same day, a townhouse in Cobden, owned by the same interests, was sold for just over $200,000 – also well under the expected market value.
Mr Steel and his solicitors were notified by email about The Standard seeking access to charge sheets late last week.
The application was approved by a magistrate on Monday.
