Sentences with phrase «by fraudulent brokers»

Internet scams are always a threat to innocent people in the society and every day we come across many new investors who get cheated by fraudulent brokers.

Not exact matches

No prestigious broker would risk its reputation by associating with a fraudulent site so this serves as strong indications that Automatedbinary is an honest site.

Ragbir says he was a low - level employee at a now - defunct mortgage broker when he processed applications by a real estate broker that were later proven fraudulent.

287 DOS 98 Matter of DOS v. Uqdah Realty & Management Corp. — deposits; jurisdiction; fraudulent practices; failure to pay judgment; vicarious liability; notary public; disclosure of agency relationship; broker violated 19 NYCRR 175.1 when he deposited escrow funds into his operating account; broker committed conversion when his operating account fell below deposit amount; broker engaged in fraudulent practices when he illegally retained buyer's trust funds and attempted to qualify prospective buyer for mortgage by falsely stating their employment; broker failed to disclose his agency relationship to his client; failure to pay judgment; corporate real estate broker vicariously liable and charged with actual knowledge of violation of law because of representative broker's cognizant misconduct as corporate officer; broker is not required to deposit a refundable commission in an escrow account unless contractually demanded; corporate broker and representative broker's license revoked; restitution of deposit of $ 12,000 plus interest; notary public commission revoked based on misconduct as a real estate licensee

214 DOS 97 Matter of DOS v. Laymon - accounting to client; bad check; deposits; failure to pay judgments; proper business practices; jurisdiction; DOS retains jurisdiction after expiration of license (for failure to pay renewal fee) where acts occurred during licensure; violation of 19 NYCRR 175.1 by depositing clients» funds into operating account and failing to maintain special bank account; violation of 19 NYCRR 175.2 for failing to account to client; broker engaged in fraudulent practices by accepting monies he was required to retain in escrow, depositing said monies into his operating account, failing to return same to its rightful owner and by purporting to make refunds by issuing bad checks; in light of broker's financial inability to do so, failure to promptly satisfy judgments was not a demonstration of untrustworthiness; there was no violation of 19 NYCRR 175.3 (b) where broker was not managing rental properties; real estate broker's license revoked; reapplication for broker's license conditioned upon proof of payment of restitution with interest and proof of satisfaction of judgment with interest

730 DOS 02 DOS v. New World Realty of New York, Inc. — availing of license; deposits; disclosure of agency relationships; duty to supervise sales associates; failure to pay judgment; proper business practices; DOS has jurisdiction where disciplinary action was started while individual was licensed as an associate broker and was eligible to automatically renew at the time of the disciplinary hearing; salesperson owned voting stock in licensed corporate real estate broker, failed to pay judgment and failed to present evidence of inability to do so, and engaged in unlicensed activity after license expired; representative broker availed corporate real estate brokers license to salesperson; representative broker failed to properly supervise salesperson by permitting and authorizing salesperson to act as a real estate broker; broker and salesperson failed to make agency disclosures and failed to deposit funds of principal in a special bank account; real estate transaction conducted was a fraudulent business practice; DOS fails to prove the unauthorized practice of law; salesperson's license revoked and salesperson ordered to pay refund of $ 1,406.00 of illegal commission collected; representative broker's license revoked and broker ordered to refund $ 74.00 of illegal commission collected; representative broker fined $ 5,000.00

1 DOS 98 Matter of DOS v. Fiumera - proper business practices; broker licensed in her individual name violates RPL § 440 - a when not also licensed as an associate broker while working under the name and auspices of another broker; broker not required to disgorge commission where individually licensed and additional associate broker's license would be issued pro forma upon payment of licensing fee; broker did not engage in fraudulent practice when advised homeowner that radon report was acceptable when reasonably acted upon advice given to her by the party taking the test; broker's offer to pay for remedial work indicates a good faith offer of settlement; $ 250 fine

122 DOS 98 Matter of DOS v. Hazor — proper business practices; sales associate as officer of company; corporate broker dissolved by proclamation may only carry on business required for winding up its affairs; engaging in licensed activity and submitting license renewals after dissolution by proclamation constitutes fraudulent practices; failure to comply with DOS request to appear and for production of documents along with failure to comply with subpoena violates RPL § 442 - e (5); licensed salesperson violates RPL § 441 - b (2) when he serves as an officer of the corporation; brokers and salesperson's licenses revoked

79 DOS 99 Matter of DOS v. Pagano - disclosure of agency relationships; failure to appear at hearing; proper business practices; unauthorized practice of law; unearned commissions; vicarious liability; fraudulent practice; jurisdiction; ex parte hearing may proceed upon proof of proper service; DOS has jurisdiction after expiration of respondents» licenses as acts of misconduct occurred and the proceedings were commenced while the respondents were licensed; licensee fails to timely provide seller client with agency disclosure form prior to entering into listing agreement and fails to timely provide agency disclosure form to buyer upon first substantive contact; broker fails to make it clear for which party he is acting; broker violates 19 NYCRR 175.24 by using exclusive right to sell listing agreement without mandatory definitions of «exclusive right to sell» and «exclusive agency»; broker breaches fiduciary duties to seller clients by misleading them as to buyer's ability to financially consummate the transaction; broker breaches his fiduciary duty to seller by referring seller to the attorney who represented the buyers when he knew or should have known such attorney could not properly protect seller's interests; improper for broker to use listing agreements providing for broker to retain one half of any deposit if forfeited by buyer as such forfeiture clause could, by its terms, allow broker to retain part of the deposit when broker did not earn a commission; broker must conduct business under name as it appears on license; broker engaged in the unauthorized practice of law in preparing contracts for purchase and sale of real estate which did not contain a clause making it subject to the approval of the parties» attorneys and were not a form recommended by a joint bar / real estate board committee; broker demonstrated untrustworthiness and incompetency in using sales contract which purported to change the terms of the listing agreement to include a higher commission; broker demonstrated untrustworthiness and incompetency in using contracts of sale which were unclear, ambiguous, vague and incomplete; broker failed to amend purchase agreement to reflect amendment to increase deposit amount; broker demonstrated untrustworthiness in back - dating purchase agreements; broker demonstrated untrustworthiness in participating in scheme to have seller hold undisclosed second mortgage and to mislead first mortgagee about the purchaser's financial ability to purchase; broker demonstrated untrustworthiness by claiming unearned commission and filing affidavit of entitlement for unearned commission; DOS fails to establish by substantial evidence that respondent acted as undisclosed dual agent; corporate broker bound by the knowledge acquired by and is responsible for acts committed by its licensees within the actual or apparent scope of their authority; corporate and individual brokers» licenses revoked, no action taken on application for renewal until proof of payment of sum of $ 2,000.00 plus interests for deposits unlawfully retained

360 DOS 09 Matter of Depass — associate broker; failure of proof of charge of failure to disclose prior business association and failure to cooperate; conduct as attorney is relevant to determining trustworthiness and competitiveness; amend pleading to conform to proof; failure by account; fraudulent mortgage transactions; sham to refinance; revocation

189 DOS 99 Matter of DOS v. Naftal - listing agreements; deposits; unauthorized practice of law; vicarious liability; amendment of pleading to conform to the proof; improperly altering listing agreement without the consent or knowledge of principal to show the potential commission split with buyer's broker to meet MLS requirements; preparing and submitting fraudulent MLS change notifications purporting to extend and alter listings; deposit of escrow funds into operating account; preparation of lease constitutes the unauthorized practice of law; pleadings may be amended to conform to the proof and encompass a charge not stated in the complaint where the issue has been fully litigated by the parties and is closely enough related to the stated charges that there is no surprise or prejudice to the respondent; continuing to offer properties for sale after preparation of forged listing extensions violates 19 NYCRR 175.10; DOS fails to establish violation of 19 NYCRR 175.12 for failure to provide copy of listing extension where extension was not authorized by principal; DOS fails to demonstrate demand for unearned commission where broker may have believed they were entitled to a commission; broker's licenses suspended for one year and thereafter until such time as restitution in the amounts of $ 5,000.00 and $ 2,055.40 is made