The director of a strata management company will escape time behind bars depite being convicted of fraud.
Jason Christopher Hext, director of Strataco Strata Pty Ltd, was sentenced to 12 months imprisonment on 8 April 2015, after being found guilty of $67,000 worth of fraud involving the management of seven strata plans.
Hext was convicted of transferring funds out of the strata plans’ individual trust accounts for his own personal use and for the use of his wife.
Hext appealed the severity of his sentence and on 28 July the Parramatta
District Court overturned the original sentence of 12 months imprisonment with a non-parole period of seven months.
Instead, Hext was sentenced to 18 months imprisonment, to be served by home detention, with a 12 month non-parole period.
The District Court also confirmed orders which require the defendant to pay $67,609.67 to the Director-General of Property Services Compensation Fund.
NSW Fair Trading Commissioner Rod Stowe said strata managers misappropriating trust account funds would continue to be targeted by the department.
“Consumers living under strata law are entitled to feel confident the significant sums of money they pay to managers to look after their building’s common assets are kept securely in designated trust accounts and the money is used for the intended purposes,” Stowe said,
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out