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Immediate suspension of real estate brokerage extended due to unexplained $341,000 trust account shortfall.
The appellants appealed an immediate suspension order issued by the Registrar under the Real Estate and Business Brokers Act, 2002.
The suspension was based on a shortfall of over $341,000 in the brokerage's trust account.
The Tribunal found that the Registrar established a prima facie case of the shortfall and that the appellants failed to provide an explanation or rectify it.
The Tribunal concluded that extending the immediate suspension order pending the full hearing was necessary in the public interest to protect consumer funds.
