Agent on trial over deals

A real estate agent, who faces up to seven years in jail if convicted over two property deals in which investigators say he personally benefited by more than $850,000, goes on trial today.

Former Barfoot & Thompson agent Aaron Hughes denies the charges. Charges laid against Hughes last year allege he obtained a valuation showing a property he was selling in Mt Wellington, Auckland, was worth at least $1.2 million.

He is alleged to have purchased it himself 11 days later through his company Az-Iz Rentals in a private sale for $530,000.

It is alleged the valuation was not disclosed to the elderly sellers, Jack and Walter Tata, and that Hughes on-sold the house within months for a $725,000 profit.

Hughes faces one charge of causing loss by deception. The charge has been laid under the Crimes Actso the matter will be heard before the district court. Hughes could be jailed for up to seven years if found guilty.

Another charge alleges that Hughes, while acting as a real estate agent, obtained a Mangere Bridge property by deception between October 2015 and January last year.

Charge documents say that on or about August 13 last year Hughes obtained a valuation showing the property was worth at least $720,000 and this was not disclosed to the vendor.

He has elected trial by jury and will be represented by David Jones, QC. The trial is set down for one week.