Brokerage registration revoked but individual broker permitted to practice with conditions following involvement in inflated property flips.
The Registrar proposed to revoke the registrations of a real estate broker and his brokerage, alleging he knowingly assisted a client in purchasing properties and relisting them at greatly inflated prices, facilitating potential mortgage fraud.
The Licence Appeal Tribunal found the broker's conduct demonstrated a serious lack of understanding of a registrant's duties and wilful blindness to the questionable nature of the transactions.
The Tribunal ordered the revocation of the brokerage's registration but allowed the individual broker to retain his registration subject to strict conditions, including supervision and further education.
OLATOntario Licence Appeal TribunalJan 25, 2010
