Property broker Darren Degilio stole more than $120,000 from clients for kids’ private schooling

AN Adelaide property broker swindled clients out of more than $120,000 by pocketing their house deposits to pay for his children’s private schooling — and he’ll pay the price in jailtime.

AN ADELAIDE property broker swindled clients out of more than $120,000 by pocketing their house deposits to pay for his children’s private schooling.

Darren Degilio, 54, worked as a self-employed property broker when he stole up to $50,000 at a time from customers between October, 2013 and March, 2015, the court was told.

Degilio pleaded guilty to four counts of theft.

Judge Liesl Chapman outlined his offending during sentencing last Thursday.

She said the first victim handed over $37,500 to Degilio in October, 2013 as a deposit for a house and land package he told her he had found in Sturt.

“You had her transfer the deposit into your personal bank account, not a trust account,” Judge Chapman said.

When the client was unable to secure a loan for the balance of the sale, her financial adviser contacted Degilio to arrange to have the deposit returned.

Despite several attempts to retrieve the money and engaging a lawyer to demand its return, the client did not receive her money back and reported the incident to police in March, 2014.

“A review of your bank statements shows you had spent all of her money, including $18,500 worth on school fees for your three children, by the middle of January, 2014,” Judge Chapman said.

The court was told Degilio then stole $19,000 from a couple between January 2014 and November 2014.

The money was to be used as a deposit for an investment property at Elizabeth Park but when the couple found it difficult to get finance and they requested their money be returned, their calls, text messages and emails went unanswered for weeks.

“You finally answered a call on 11 November, 2014 only to tell them that you were in a meeting — They never received their money back,” Judge Chapman said.

Degilio spent almost all of their money, $8000 of which was put towards school fees, by the end of July, 2014.

Judge Chapman said another couple engaged him as their broker and paid him a deposit of $15,000 to buy a house at Clearview in July, 2014.

“You lodged a written offer on that property with the real estate agent on 5 August, which included a suggested deposit of $5000,” she said.

“You did not transfer any deposit monies to secure the offer.”

The couple did not receive their money back.

The court heard the day after the couple had transferred their $15,000 deposit, Degilio paid $10,900 in school fees and a further $5000 in fees a month later.

Degilio’s final victim was an elderly woman from whom he stole $50,000.

The money was meant to be used as a deposit for a property at Clovelly Park but after deciding against purchasing the property in February, 2015, Degilio did not return the cash.

Days after the woman transferred $50,000 to him, Degilio spent $46,000 on school fees and in the following month he also paid a further $2000 in fees.

Judge Chapman said a psychiatrist’s report into Degilio’s offending stated he appeared to have “been driven throughout your life to surpass your father in his financial success”.

Degilio, who had previously admitted to committing 129 criminal offences of dishonesty between 1988 and 1990, declared bankruptcy towards the end of court proceedings and his ability to repay his victims remained “unknown”, the court heard.

Judge Chapman sentenced him to three years and almost four months in jail, with a non-parole period of two years and two months.