Real Estate and Business Sales Representative Permanently Disqualified
Issue Date: - Thursday, 24 January 2008
The State Administrative Tribunal (SAT) has cancelled the certificate of registration of Vincent Thomas O'Donoghue following an investigation by the Real Estate and Business Agents Supervisory Board (REBA).
Mr O'Donoghue, who was previously employed as a sales representative by Westralia Property Group Pty Ltd t/as One World Property Group (Westralia) and was one of its directors, has also been permanently disqualified from being registered as a real estate and business sales representative.
“He made false statutory declarations, acted as a company director and charged clients when he was not entitled to do so, presented a proposal to invest in a corporate entity that was not incorporated and received loan funds that were not repaid”, REBA's Chairman, Mark Cuomo said.
Mr O'Donoghue was involved in the following conduct:
Making statutory declarations that were not true;
Being a director of a corporate entity without seeking the necessary court approval in circumstances where he was bankrupt in Ireland;
In relation to various properties in Western Australia he raised on six separate occasions invoices for fees and expenses without Westralia holding proper management authorities;
On two occasions he instructed letters to be sent to clients of the agency in which he was employed, for monies Westralia was not entitled to claim;
He presented a proposal for the purchase of a 5% shareholding in a corporate entity that had not yet been incorporated; and
He received sums of loan money in four separate payments. One of the payments was documented with repayment terms stated however the funds have not been repaid, contrary to agreed terms.
The Real Estate and Business Agents Act requires that registered real estate and business sales representatives be suitable persons to operate in the industry. Once registered, real estate and business sales representatives are required to comply with a Code of Conduct which requires them to act in their clients' best interests.
“The conduct of Mr O'Donoghue is a reflection on his lack of fitness to operate in this industry. The Act and associated Code of Conduct are in place to ensure there can be public confidence in the industry. REBA is committed to enforcing the law at all times by agents and sales representatives, and any dubious conduct will not be tolerated”, Mr Cuomo said.