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