Real Estate & Business Agents Supervisory Board
23 March 2007
Morley Real Estate Agent Suspended
Supervisory Board Closes Doors to Protect Consumers
The Real Estate and Business Agents Supervisory Board has closed the real estate business of Carmello Charles Parrella, formerly trading as Charles Parrella & Associates in Morley.
The Board obtained orders in the State Administrative Tribunal late yesterdayafternoon suspending Mr Parella’s licence, and authorising the appointment of a Supervisor to the business. This was necessary following the alleged misappropriation of approximately $400,000 from the agent’s trust accounts. “The Board has acted swiftly in this matter to obtain appropriate orders and appoint a Supervisor to protect the interests of consumers”, the Board’s Chairman Mark Cuomo said.
A Supervisor will be appointed as soon as possible, and will temporarily assume control of the agency for the purpose of concluding or disposing of matters commenced but not concluded on behalf of clients of the agency.
The Supervisor will contact clients of the agency to make them aware of the situation at Charles Parrella & Associates.In the short term the Supervisor will undertake property management duties such asthe collection of rents and payments to landlords. “However, landlords need to find a new property manager as soon as possible”, Mr Cuomo said.
The Fidelity Guarantee Fund administered by the Board may provide reimbursement for consumers who have suffered a loss of money or property as a result of their dealings with Charles Parrella & Associates. Details about the Fund are available from the Board’s website at
www.reba.wa.gov.au.
Consumers may also contact the Board on 9282 0534 or 9282 0476 to enquire about lodging a claim against the Fidelity Guarantee Fund. END OF RELEASE
