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
594 DOS 01 DOS v. Walker - deposits;
failure to appear at hearing;
failure to pay judgment;
failure to cooperate with DOS investigation;
notary public; proper business practices; broker commingles funds by placing deposits in operating account; broker allows escrow account to be overdrawn on numerous occasions; broker uses deposit for separate, unrelated business investment; broker fails to pay judgment without presenting an explanation or excuse for
failure to pay judgment; broker fails to cooperate with DOS investigation by failing to respond to and comply with letter directing him to appear for a conference and to provide certain documents; broker fails to notify DOS
of new address upon closing office; DOS fails to prove that salesperson improperly held herself out to be real estate broker associated with corporate broker, that the broker made misrepresentations to the purchasers regarding payments they were required to make toward the purchase, that some checks were returned for insufficient funds, that the broker failed to make certain required payments, that the broker properly failed to make certain other deposits and that the broker gave a postdated deposit check which could not be cashed due to insufficient funds; representative broker's and corporate broker's licenses revoked, return
of deposits in the amount
of $ 400.00 and $ 3,173.83 ordered with interest, civil judgment to be fully satisfied; salesperson fined $ 1,000.00 and
notary commission suspended for four months