Former LJ Hooker agent Tri Duc Ngo jailed for five years
A FORMER LJ Hooker agent who fuelled a drug habit and lavish jewellery purchases with millions of dollars of clients’ money has been jailed for five years.
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A FORMER LJ Hooker agent who fuelled a drug habit and lavish jewellery purchases with millions of dollars of clients’ money has been jailed for five years.
Tri Duc Ngo, 37, who also goes by Joseph Ngo, was also ordered to pay $2.1 million compensation to cover costs paid out to victims.
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Ngo had pleaded guilty to 48 charges related to misappropriating about $6.15 million of trust account money of clients of six former offices in Melbourne’s east in 2015 and 2016.
Money was moved from sales and rental trust accounts and extracted to fund Ngo’s lifestyle, which included splurges on ice, jewellery and clothing, the court heard.
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Judge Michael Bourke told the County Court in sentencing Ngo’s offending was “dishonest, harmful and prolonged, it had some sophistication, it badly breached the trust of people.”
“This was serious offending and the sentencing purpose of general deterrence is very important,” he said.
The court heard Ngo spent $300,000 on ice during the period of his offending.
He also splashed stolen cash at high-end jewellery stores including Swarovski and Tiffany & Co — including a purchase of about $110,000 at the latter, the court was previously told.
Ngo’s wife and co-accused, Judy Nguyen, also known as Truc Thanh Le Nguyen, has pleaded not guilty to 345 charges and is due to stand trial next year.
Judge Bourke directed Ngo should serve at least three years behind bars before being eligible for parole, adding if it were not for an early guilty plea, he would have been jailed for seven years, with a minimum of five.
He also acknowledged the chance of Ngo paying the $2.1 million compensation, to cover costs paid to victims through the Victorian Property Fund, was “remote.”
Erol Cinar, for Ngo, had argued his client had a schizoaffective disorder and suffered “severe visual hallucinations,” asking for a Community Corrections Order as his imprisonment would affect his young family.
Judge Bourke said Ngo’s drug use and likely worsening mental health provided some context for his offending, but agreed with a professional assessment his issues had been significantly influenced by his ice use and could be much better managed if he did not use the drug.
The judge also took into account positive character references, Ngo’s expression of remorse and positive chances for rehabilitation if he abstained from drugs.
A large number of victims, including two that provided victim impact statements, had suffered stress, anxiety and financial loss, the latter recouped through compensation, the court heard.
Ngo’s charges, involving more than 46 properties and relating to fraudulent conversion of money for his own use, carried a maximum penalty of 10 years’ jail.
Seven others summary offences of breaching restrictions on sales where an agent has a “beneficial interest” had a maximum penalty of two years’ jail.