Licenced conveyancer Stephen Waters in court over trust fraud allegations
NSW Fair Trading has commenced court proceedings against a licensed conveyancer, Stephen Waters alleging serious offences involving the fraudulent conversion of trust money totaling more than $980,000.
Two charges have been laid against Stephen Waters, who is accused of fraudulently converting trust monies while acting as a licensed conveyancer, contrary to section 152(2) of the Conveyancers Licensing Act 2003 (NSW).
It is alleged that between 1 March 2024 and 21 October 2024, Mr Waters fraudulently converted more than $980,000 by making hundreds of transfers from his statutory trust account to his business and personal bank accounts.
The charges allege that the funds were property sale proceeds held in trust for clients and were converted for personal use.
The matter is listed to be mentioned before Parramatta Local Court on 15 May 2026.
NSW Fair Trading takes allegations involving trust money extremely seriously. Trust accounts exist to protect consumers, and licensed professionals are legally required to deal with those funds honestly and in accordance with the law.
These are allegations only. The defendant is entitled to the presumption of innocence, and the matter will be determined by the court.