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Estate Agent Steals $50K from Clients

Manolis Karapsitis, the former director of the Northern Territory estate agency, Your Real Estate NT, has pleaded guilty to thirty-five counts of theft after he was found to have stolen more than $57,000 from his clients to fund a lifestyle of drugs and gambling.

The Darwin Local Court heard that Mr Karapsitis had repeatedly withdrawn large amounts of money, ranging from $770 to $3060, from a special trust account in which clients’ rental bonds were kept.

Needless to say, Manolis was stripped of his estate agent’s license by The Agents Licensing Board during a disciplinary hearing in October of last year, with the board finding that Mr Karapsitis’ actions were “fundamentally inconsistent with the trust obligations of a real estate agent.” As such, the board went on to ban Manolis from working in the industry indefinitely.

Mr Karapsitis’ stealing was exposed by a number of suspicious clients who, together, approached the Department of Business to file a complaint.

Following the hearing, Mr Karapsitis has been sentenced to 12 months’ imprisonment, suspended after 2 months.

In light of Mr Karapsitis’ case, Judge Michael Carey compared his actions to those of fraudster travel agents, Tenille Foley and Xana Kamatsis, sentenced in May of this year and December of 2015 respectively. While Foley’s sentence was relatively mild in comparison; just three months’ home detention, Xana Kamatsis was jailed for three years and eleven months.

Australia continues to suffer at the hands of fraud and, with each passing month, the concepts and technologies that fraudsters employ evolve to become more complicated, harder to trace and more effective in stealing from their victims.

Precise Investigation offers clients across all of Australia a proven, tailor-made approach to preventing fraud within the workplace and at home, as well as going on to help them minimise the associated risks and set up effective protection for the future.

We have provided fast, efficient and results-driven fraud investigations to hundreds of clients over the last three decades and we continue to build upon the experiences and skillsets that our field operatives employ to maintain Precise Investigation’s position as one of Australia’s most successful private investigation firms.

Call Precise Investigation today on 1300 856 011 for a professional private investigation service.

No matter where in Australia you or your business may be based, we have agents stationed across every major state and city, with quick and easy access to the likes of Sydney, Melbourne, Perth, Adelaide, Brisbane, Hobart and even the more remote reaches of the country. Get in touch with Precise Investigation today and see just how easy it can be to have a professional and cost-effective investigation carried out today.

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