PHOTO: Malcolm Gunning, the former president of the Real Estate Institute of NSW
A real estate company run by one of Australia’s top agents has been convicted in court over the management of its trust accounts.
Malcolm Gunning, the former president of the Real Estate Institute of NSW and the Real Estate Institute of Australia, faced Parramatta Local Court on Wednesday, over charges against company Guncom – of which he is now the sole director.
The company behind Gunning Real Estate was convicted of not auditing a trust account as required by magistrate Richard Funston. The company was put on a two-year conditional release order and ordered to pay $10,000 in professional and legal fees for Fair Trading.
Two other charges against the company, relating to a trust account not being kept in the company’s name and failure to comply with receipt requirements for trust money, were dismissed.
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