A real estate agent misused more than $100,000 of client money to fund a gambling addiction and make personal purchases, a court has heard.
"People trust real estate agents to handle their money legally and appropriately and when that trust is shaken, it can create a resonating effect on the community," prosecutor Chamil Wanigaratne said on Friday.
Nicholas Shazzard Haider, 38, escaped ACT Magistrates Court-imposed financial penalties for his crimes when he was sentenced to an 18-month good behaviour order and 100 hours of community service.
The realtor previously pleaded guilty to dealing with trust money other than as directed, and failing to pay trust money into a trust account.
Both are breaches of the territory's Agents Act.
Agreed facts show Haider received a total of $104,500 in October 2021 from a couple trying to purchase a home in Taylor, made up of a 5 per cent deposit and additional money to be held on trust.
The couple believed their money was being transferred into a trust account by their agent, which Haider was legally obligated to do by the following business day.
Instead, the real estate agent kept the money in his personal bank account and carried out various personal transfers, payments and withdrawals.
Over the following month, Haider used the money to pay for online gambling services, entertainment, food, books and massage services.
Haider was struggling with a gambling and cocaine addiction, and was in breach of good behaviour orders relating to family violence charges, at the time of the offending.
The purchase of the house in question ultimately fell through in March 2022 and Haider informed the couple he would reimburse their money, with an additional $20,000 in interest.
He did this five months later before voluntarily handing in his real estate licence.
The court heard Haider was now in the middle of proceedings with the ACT Civil and Administrative Tribunal, related to the offending, which could result in him being banned from practising in the industry for 10 years.
"And I've accepted that," Haider said.
"I don't think I could ever do the job again. I don't have the heart or mental strength for it."
The prosecutor said while Haider's criminal history was not related to his recent type of offending, it "supports the history of drug addiction".
"Addiction is a very powerful and difficult factor in anyone's life," Mr Wanigaratne said.
"However, when that addiction starts to impact on innocent people, a message needs to be sent.
"Fortunately, the money was retrieved."
A self-represented Haider told magistrate Jane Campbell he was "really sorry" and that he had "lost a lot".
"I did make mistakes which I did my best to correct. Not for any other reason than to do the right thing for other people who didn't deserve it," he said.
He said he had been "seriously mentally unwell" during the period of offending and he was now staying away from his addictions after seeking out help.
The magistrate ultimately did not impose any financial penalties, despite what she called a "significant breach of trust".
She said the offending had a "dramatic impact" on the man's life.
"I don't think it's appropriate to impose a fine because of Mr Haider's significant financial difficulties," Ms Campbell said.
The court heard Haider was living with his mother and had separated from a partner of 20 years.
"I accept his genuine sorrow that his partner and children have faced the collateral damage of being associated with him now that he has been named in the media," Ms Campbell said.
"He has lost his reputation."
The magistrate also accepted Haider's empathy for the couple, who the offender said he had apologised to.
