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A Redlands real estate agent who had tenants pay sham fees directly into her private account and falsified records for 196 transfers will spend at least eight months behind bars, a court has ruled.
Michelle Margaret Cooke, a property manager based in Alexandra Hills, siphoned $116,376 from trust accounts managed by her agency over a period of seven years beginning in 2013.
Cooke manipulated real estate trust accounting software to transfer money into bank accounts belonging to her or her family members, the Brisbane Magistrates’ Court heard.
Acting Fair Trading Commissioner Craig Turner said Cooke had broken a responsibility to her community.
“Real estate professionals are trusted by the community to work with large sums of other people’s money, so it is essential they follow appropriate processes at all times,” Turner said.
Cooke also contacted former tenants and instructed them to pay break-lease fees or outstanding utilities accounts between 2016 and 2020.
The former tenants deposited money directly into Cooke’s personal accounts 32 times over four years, totalling over $15,000.
Cooke was charged with two counts of fraud linked to her mishandling of trust accounts, and one count for imposing fake charges on former tenants.
She pleaded guilty to all three counts.
On March 18, Judge Terry Gardiner handed Cooke four years and six months’ jail time for the first two counts of fraud, and two years for the third count, which would be served concurrently.
After eight months, Cooke would serve a suspended sentence.
“Any real estate agent who takes money from a trust account without proper authority is committing a crime,” Turner said.
“The Office of Fair Trading will continue to take action against dishonest property agents who are breaking the law.”
As of her sentencing, Cooke had repaid $54,517 of the funds, with $77,000 still owed.
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