PHOTO: In late September 2024, Lawry reportedly stopped showing up to work
A self-described “born and bred” real estate agent, once riding high in Melbourne’s property scene, allegedly vanished in a storm of betrayal — after allegedly siphoning almost $300,000 from trusting clients.
Her name: Debra Lawry (also trading under the alias Debra Watchman). Her fall from grace is now the headscratcher tearing through industry circles across Victoria.
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🚨 The Disappearance That Sparked a Scandal
In late September 2024, Lawry reportedly stopped showing up to work — right in the week she is said to have misappropriated massive client funds.
Clients and colleagues were left in the dark. Trust accounts for her business, Bovicelli Investments Pty Ltd, allegedly saw transfers totaling $193,000 for her personal use — and possibly more.
By that time, Ray White Romsey, her local franchise, had already or would soon absorb losses of up to $285,000. The company, forced into damage control, shouldered much of the fallout to protect clients.
Lawry’s real estate licence expired in November 2024, and despite attempts by regulators and franchise partners to contact her, she cannot be located.
📜 Regulatory Fallout & Legal Firestorm
Consumer Affairs Victoria brought Lawry before the Victorian Civil & Administrative Tribunal (VCAT), citing that she had failed to audit her trust accounts for four years — a mandatory compliance obligation in the industry.
During a hearing in September 2024, she had agreed to rectify the breaches — only to flee the country that very day.
VCAT publicly reprimanded her conduct, calling it “particularly egregious,” and flagged that she may be a threat to public confidence in the profession. The tribunal began proceedings to ban her from ever holding a real estate license again.
Meanwhile, Ray White announced its disassociation from Lawry and has since upgraded compliance procedures across its network to prevent similar lapses.
🧩 Key Questions to Watch
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Where is Debra Lawry now? No confirmed sightings or traced whereabouts
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How much was taken in total? Beyond the documented $193,000, Ray White covered up to $285,000 in customer losses
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Will criminal charges follow? Regulators and law enforcement are assessing further prosecution
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Can clients be fully repaid? Much depends on legal outcomes and recovered funds
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Will Ray White or regulating bodies be liable? Questions remain about their due diligence and oversight
🧠 Takeaway Lessons for Agents & Clients
This case highlights deep risks that come when trust account rules are ignored, compliance is lax, and governance is weak — especially in high-value industries like real estate.
For clients: always check your agent’s trust account compliance and licensing status.
For agencies: a single rogue operator can wreak reputational and financial havoc. Preemptive checks, audits, and transparency must be nonnegotiable.