A Sydney real estate chief executive has been sentenced to an intensive corrections order after admitting to misappropriating $539,000 in client deposits over a two-month period in late 2023. EW Property Group CEO Huijuan 'Jenny' Zhou was given a 10-month sentence and ordered to complete 100 hours of community service by Parramatta Local Court.
The funds were taken from her agency's trust account to support her personal finances. The scheme came to light after homebuyers raised concerns with NSW Fair Trading, initiating an investigation that uncovered the missing money.
One instance involved Zhou diverting a $190,000 deposit for a property, and she later repaid another client's $123,000 deposit 15 months after taking it. Acting NSW Fair Trading Commissioner Andrew Floro emphasized that trust accounts are not intended as personal credit lines and that misuse of client funds represents a serious breach of trust.
As a consequence of the conviction, Zhou will be listed on NSW Fair Trading's Name and Shame Register. Despite this disciplinary action, her company profile notes her career sales of over 900 properties in 13 years, highlighting her success in both Chinese and local property markets.
