Real Estate Broker, Firm Lose Licenses For Playing Fast & Loose With Customers' Cash Held In Company's Trust Account

In Oromcto, New Brunswick, CBC News reports:

• Oromocto realtor K. Walter Moore and his Town & Country Market Realty Ltd. have had their licences to operate in New Brunswick cancelled by the director of consumer affairs for the province's Financial and Consumer Services Commission.(1)
  
  Walter Moore, owner and manager of Town & Country Market Realty Ltd. K. Walter Moore is the owner and manager of of Town & Country Market Realty Ltd. in Oromocto. Both have had their licences to operate in New Brunswick cancelled.
  
  Moore is the owner and manager of Town & Country Market Realty in Oromocto.
  
  A news release from the commission states the licences were cancelled after breaches of the Real Estate Agents Act were identified during a recent review of Moore's business.
  
  The breaches identified include improper use of a trust account by failing to deposit money directly into trust and withdrawing money from trust funds to pay operating expenses.
  
  "The Real Estate Agents Act is very clear on the obligations surrounding trust funds, and the commission's role is to protect consumers by ensuring compliance with the act," said the commission's chief executive officer Rick Hancox in a news release.

For more, see Oromocto real estate agent, firm lose licences (K. Walter Moore, Town & Country Market Realty have licences cancelled by consumer services commission).

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(1) For the ruling of the director of consumer affairs, see In re K. Walter Moore, et ano.