The former boss of collapsed Westpoint Realty will have to pay more than $100,000 after being convicted of making misrepresentations about a residential property development in Perth.
Westpoint Realty was fined $30,000 in the Perth Magistrates Court this week while its director, Norman Phillip Carey, was fined $6000 and was ordered to pay costs of $97,449.
The magistrate also denied Carey's application for a spent conviction. Carey was found guilty in 2011 of five charges of breaching the Fair Trading Act over the sale of a residential property development in Rivervale in 2005.
The Supreme Court dismissed his first appeal in January 2012 and the Court of Appeal dismissed a second appeal in August 2013.
Westpoint Realty was also found guilty but did not appeal.
The original trial found that agents misled buyers in the Regent Apartments development by falsely telling them there had been delays due to planning approvals.
Purchasers then terminated their contracts of sale and each unit was re-sold at a higher price.
Two former representatives pleaded guilty to similar charges in September 2010, were fined $2000 and $750 respectively, and were granted spent convictions.
A third sales representative pleaded guilty in December 2010 and was fined $1000.
Commissioner for Consumer Protection Anne Driscoll said the case highlighted the need for those involved in promoting property to be honest in their dealings with clients and potential buyers.
"Property transactions must be totally transparent and the perpetrators of deception cannot be rewarded and must face the consequences of their actions," she said.