PHOTO: In total, eight tenants and seven property owners were directly impacted. FILE
💰 More Than $500,000 Taken From Trust Accounts
A Gold Coast real estate agent has been handed a six-month jail sentence, suspended for three years, after misappropriating more than $500,000 in trust money, in a case that has sent alarm bells ringing across Australia’s property industry.
Queensland Department of Justice confirmed that Alyce Jade Kebblewhite, director of AJK Property, pleaded guilty to 10 offences in the Southport Magistrates Court.
Between April 2022 and June 2024, Kebblewhite carried out 592 improper transactions, misappropriating a total of $508,270.
Alyce Jade Kebblewhite, of AJK Property – REALESTATE.COM.AU
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⚖️ The Charges Explained
The court heard Kebblewhite pleaded guilty to:
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❌ Five charges of failing to disburse trust money
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❌ Four charges of failing to deposit funds into a trust account within required timeframes
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❌ Additional trust-account related breaches
In total, eight tenants and seven property owners were directly impacted — with some tenants even told they were in rental arrears when funds had in fact been misused.
🧍 Vulnerable Tenants Among the Victims
The Queensland Government revealed that several affected tenants were not proficient in English, a factor the Department of Justice said “compounded their vulnerability.”
For many, missed payments and misinformation caused unnecessary stress, confusion, and financial uncertainty — despite rent having already been paid.
🗣️ Regulator Warning: “Trust Money Does Not Belong to Agents”
Queensland’s Acting Commissioner for Fair Trading, Allannah Traill, issued a blunt warning to the real estate industry.
“Trust money does not belong to agents,” she said.
“The behaviour in this case demonstrated deception and dishonesty. She had no consideration for how her actions affected her clients, at times blatantly lying to them and making excuses for non-payment.”
Traill confirmed the Office of Fair Trading Queensland takes trust-account complaints seriously and will continue to investigate and prosecute breaches.
🔁 Not an Isolated Case: Industry Under the Microscope
The conviction comes just months after another Queensland agent was penalised.
A Logan-based real estate agent, Kyla Anne Gale, and her company were fined $20,000 after falsifying trust account books and records following an investigation by the Office of Fair Trading.
Gale pleaded guilty to a staggering list of offences, including:
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📒 21 counts of knowingly making false trust account entries
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💸 Six counts of failing to make proper trust payments
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📝 One count of failing to lodge an annual audit report
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📂 One count of failing to keep proper books and records
🚦 Victoria Issues Warning: “Trust Accounts Under the Spotlight”
Concerns are not limited to Queensland.
In September, Consumer Affairs Victoria issued a formal warning to real estate agents and conveyancers, signalling increased scrutiny of trust accounts following multiple disciplinary actions.
CAV confirmed it is stepping up oversight to protect consumers’ money, stating:
“Poor management of trust accounts in the real estate industry is under the spotlight.”
🧠 Why This Matters (For Landlords & Tenants)
Trust accounts sit at the heart of property management — holding rent, bonds, and owner funds that do not belong to agents.
These cases highlight:
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⚠️ The real consequences of weak compliance
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⚖️ Increasing regulatory enforcement
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🧾 The importance of audits and transparency
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🏘️ The risk to tenants and landlords when systems fail
For property owners and renters alike, the message is clear: ask questions, demand statements, and know your rights.
🔑 Final Takeaway
As regulators across Australia tighten oversight, trust accounting is no longer a back-office issue — it’s front and centre.
Agents who treat client money as their own face criminal charges, fines, reputational ruin — and jail time.
For the industry, this case is a warning shot.
For consumers, it’s a reminder to stay vigilant.