Ray White Romsey principal Debra Lawry (Watchman) flees overseas with deposit money from trust account

A real estate agent who allegedly stole her client’s deposits is believed to have fled overseas, days after skipping a disciplinary hearing with the state’s consumer watchdog.

Former Ray White Romsey principal Debra Watchman is believed to have stolen as much as $300,000 in homebuyer deposits.

A failed Romsey real estate agent has been accused of emptying as much as $230,000 from their firm’s trust account and fleeing overseas.

Debra Lawry, who worked under the name Debra Watchman, had been the principal of Ray White Romsey north of Melbourne where she is understood to have drained deposits for eight home sales from her agency’s trust account before disappearing in the lead up to the AFL Grand Final.

Ms Lawry, who described herself as “born and bred into real estate” in marketing materials, had already been facing suspension or cancellation of her licence by Consumer Affairs Victoria for failing to have her agency’s trust accounts audited in a timely fashion.

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CAV had issued multiple notices, warnings and fines in relation to this, and had asked the agent to attend a directions hearing on September 24.

Ms Lawry did not attend the hearing and a police welfare check at her Kyneton home found no sign of her a few days later.

The Ray White Romsey office has since been closed.

Ray White’s Victorian executive team raised the alarm over the trust account shortly after commencing an investigation into the business.

The Herald Sun understands Ray White managing director and franchisor Dan White has paid deposit monies to about eight vendors, ranging from $10,000-$70,000, and the firm’s management is ensuring all sales proceed smoothly.

A Romsey address that was sold by the agency on August 29.

The agency is still in the process of auditing the business and will provide these details to Victoria Police and Consumer Affairs Victoria.

Ray White Victoria chief executive Domenic Belfiore confirmed they believed sales expected to settle this month and in November had been impacted by Ms Lawry’s actions before she disappeared in the lead up to the AFL Grand Final.

“It is understood that Debra Watchman (Lawry) fled the country that week,” Mr Belfiore said.

“Upon conducting our own investigations into the business, we began to have concerns about its financial status and the state of the trust account. We immediately advised CAV of our concerns, as well as her bank to ensure her accounts were frozen.”

About 19 other homeowners with homes listed to sell through the firm have been released from their contracts.

A Romsey home that was one of the agency’s most recent sales, having changed hands in mid September.

Mr Belfiore was not clear on how much money had been taken from the trust account, but others close to the matter have indicated it could be as much as $230,000.

Consumer Affairs documents released last month show they were seeking to suspend or cancel Ms Lawry agent’s licence for breaches relating to her trust account’s auditing.

In a statement made earlier in September about Ms Watchman’s actions across the past four years, CAV director Nicole Rich said trust account breaches were a serious matter and that “skipping audits can be indicative of wider problems in how an agency is meeting its other obligations”.

An estate in a nearby area that sold early in August via Ray White Romsey.

Ms Rich warned agents who did not meet their legal obligations risked being barred from working in the industry.

Real Estate Institute of Victoria chief executive Kelly Ryan while rare, it was disappointing to see any instance of impropriety around trust accounts.

“The integrity of our sector relies on real estate agents doing the right thing and pleasingly the majority of agents and agencies do,” Ms Ryan said.

Debra Watchman described herself as “born and bred into real estate” in online marketing profiles.

A real estate agent profile for Ms Lawry described her as being “born and bred into real estate” as well as having a “large and loyal client base”.

Victoria Police and Consumer Affairs were contacted for comment.

Ms Lawry has not returned phone calls.

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Originally published as Ray White Romsey principal Debra Lawry (Watchman) flees overseas with deposit money from trust account