Former real estate agents charged over missing client money 'helped themselves to $4m', court told

Two former LJ Hooker real estate agents charged over trust fund rip-offs helped themselves to $4 million but repaid some of it, a court has heard.

Tri Duc (Joseph) Ngo and Truc Thanh (Judy) Nguyen are charged with misappropriating funds, after the final loss was calculated at $2.1 million.

Joseph Ngo has indicated he will plead guilty to about 300 charges, but his wife, Judy, may fight the charges.

Mr Ngo says he was the only one with access to the trust account and he was the one who conducted the offending.

Large chunks of protected funds were allegedly taken and deposited into the account of JNT, solely directed by Judy Nguyen.

In the Melbourne Magistrates Court on Friday, the accuseds’ lawyer, Erol Cinar, asked for a five-week adjournment of the matter, saying he was going overseas for a week and needed to meticulously analyse voluminous evidence, give advice, then obtain obstructions.

But Andrea Mapp, prosecuting for Consumer Affairs, said the matter seemed to be running at the convenience of Mr Cinar.

She said the two accused had the material during a record of interview before they were charged late last year.

Consumer Affairs had made numerous efforts to contact Mr Cinar to help reduce the volume of material, but had not heard back.

Nine internal Consumer Affairs witnesses and 19 other witnesses were on standby in case they were required to give evidence at a committal hearing.

Some of the charges were indictable, attracting 10 year maximums, and would be dealt with at the County Court before a jury, Ms Mapp said.

Magistrate Peter Reardon grilled Mr Cinar about the delay, saying he wasn’t happy about it.

“What’s been happening? Not much by the sounds of things. Someone’s got to sit down, not turn on the TV and start reading. We’re treading water. It’s just gathering moss.” he said. “The court wants to know what witnesses are required and if you’re applying for a committal.”

Mr Cinar replied: “I’ll be working on this exclusively from this point”, to which Mr Reardon said: “You better get onto it.”

The case was adjourned until June 2 for committal mention.

Consumer Affairs Victoria asked that costs be sought against the practitioner for any further adjournments, and it will hold a creditors meeting next Friday, after the business went into liquidation.

Ms Nguyen, a mother of four, was recently trading again, working as a business development manager at Springvale Real Estate business, Oz Capital.

She is reportedly selling off two homes in Narre Warren North on June 8.