Steven Chen: Former Gold Coast real estate agent conned mate out of $63k earmarked for home loan

A former Gold Coast real estate agent and serial fraudster conned a mate into giving him $63,000 so he could be a guarantor on a home loan.

A FORMER real estate agent and serial fraudster conned a mate into giving him $63,000 so he could be a guarantor on a home loan.

But Steven Chen refused to sign the loan documents and give the money back to his friend, despite repeated requests.

Chen had told his friend he needed the money in his bank account to prove he had the assets to act as guarantor.

OTHER NEWS:

Coast to be struck by ‘dry’ thunderstorms

Liquidator in court probe of failed Queensland One Homes

Bomb squad investigate suspicious device

The 47-year-old pleaded guilty in the Southport District Court yesterday to fraud over $30,000.

It was the third time Chen had been convicted for fraud charges since 2014.

Judge Paul Smith sentenced Chen to three-and-a-half years in prison with parole eligibility of November 22.

AMAZING OFFER: GET A SAMSUNG GALAXY TAB A 8.0 WITH THIS BULLETIN SUBSCRIPTION (T & Cs apply)

The court was told Chen met the victim when they worked at a Broadbeach restaurant.

He agreed to go guarantor on the loan to help his friend get a home loan.

After Chen was given the $63,000 he refused to sign the documents or give the money back.

Chen, who was born in Taiwan, began to struggle in 2010 after his business failed following the global financial crisis.

Judge Smith ordered a conviction be recorded.