Docklands real estate agent Ali Abbas faces VCAT trust fund hearing

Former Docklands real estate agent Ali Abbas will appear before the Victorian Civil and Administrative Tribunal (VCAT) on October 26 over trust fund irregularities.

Mr Abbas faces allegations relating to failing to keep full and accurate records of trust monies after a Consumer Affairs investigation into Abbas.

His agency, Worldwide Scope Pty Ltd, operated as a Century 21 franchise.

Century 21 head office notified Consumer Affairs last year after receiving numerous client complaints against the agent, who had marketed himself with the self-appointed nickname “Mr Sold” from his 831 Bourke Street office for about two years.

It was alleged that Abbas received bonds in cash from tenants, but didn't lodge the money as requiored with the Residential Tenancies Bond Authority.

Consumer Affairs froze Abbas’s agency trust account appointing managers to run the business last year.

Abbas’s real estate licence was also suspended, according to the local media outlet, Dockland News.

Consumer Affairs received 28 claims to the Victorian Property Fund regarding unpaid rental monies and missing residential tenancy bonds.

Claims to the fund total about $99,000.

The Director of Consumer Affairs Victoria also requested an inquiry into the business practices of the agency.

The inquiry, to be dealt with at VCAT next month, was issued under Section 25 of the Real Estate Agents Act.