The Manitoba Securities Commission has barred a real estate agent from selling homes for two-and-a-half years and ordered him to pay nearly $35,000 after he concealed a Winnipeg home's defects before it was sold and then lied to investigators about it.
The Manitoba Securities Commission has barred a real estate agent from selling homes for two-and-a-half years and ordered him to pay nearly $35,000 after he concealed a Winnipeg home's defects before it was sold and then lied to investigators about it.
The owners also found electrical wiring that was improperly installed without a permit in the home, animal feces in the basement's ceiling, an unpaid $1,400 water bill, issues in the kitchen and dining room floor tiling, as well as a leak in one of the bathrooms.'Fraudulent act' costs Winnipeg man his right to sell real estate in Manitoba
He also "intentionally withheld some relevant receipts" when investigators asked him to show what materials he used during renovations, according to the agreement. Investigators later determined that he bought the materials used to cover up the foundation cracks. He also acknowledges that he misled the purchasers and other members of the public by saying that there was no available property disclosure statement for the home, and that his actions were contrary to public interest.
The commission panel says a central consideration of the settlement agreement was whether it would be in the public interest to approve it. They say the penalties handed down to Peyawary and Scrimshaw are appropriate and will "have the necessary deterrent effect for the industry."
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