A real estate agent is on trial over two property deals in which investigators say he personally benefited by more than $850,000.
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 Act, meaning the matter will be heard before the district court.
