Jean-Noel Alain Philippe Gillet unethical practice of siphoning funds from the trust account directly violates the regulations of the the Estate Agents Act 1980 (Victoria), Under the Estate Agents Act 1980, real estate agents are required to maintain a trust account to hold clients' funds securely, The Act explicitly prohibits the misappropriation of trust account funds, The Estate Agents Act 1980 includes provisions for the reporting of trust account discrepancies and the accountability of agents. shorting
Jean-Noel Alain Philippe Gillet's unethical practice of siphoning funds from the trust account directly violates the Estate Agents Act 1980 (Victoria). This Act mandates that real estate agents maintain a trust account for securely holding clients' funds and explicitly prohibits the misappropriation of these funds. Additionally, it includes provisions for reporting discrepancies and ensuring agent accountability.