Auditor fined over real estate fund’s missing $1m
An auditor has been fined for failure to report the unexplained withdrawal of $1 million from a real estate agency trust account. Concerns were raised about Preet & Co Real Estate, which ran 10 Harcourts offices across Auckland, last year. The company was liquidated in April. Its sole director and shareholder is Gurpreet Grewal. Along with branch managers Joseph Voordouw and Garry Mason, he appeared before the Real Estate Agents Disciplinary Tribunal earlier this year, accused of misconduct, and has had his real estate agent’s licence suspended. Abdul Imran Khan, who conducted an audit of the company’s trust account, was fined $5000 in the Manukau District Court this week.