DISCIPLINARY ACTION

ROBERT L. ACREE (Charlotte) - By Consent, the Commission reprimanded Mr. Acree effective February 7, 1992, for failing, as a selling agent, to fully inform a listing agent that a check given as an earnest money deposit had been dishonored. Mr. Acree neither admitted nor denied any misconduct.

JAMES B. BOGGS (Demon) - By Consent, the Commission suspended Mr. Boggs' broker's license for two years effective February 1, 1992. Three months of the suspension are to be active and the remaining period stayed for a probationary term of one year. The Commission found that Mr. Boggs had failed to adequately supervise bookkeeping personnel which led to a trust account shortage. The Commission noted that, when he discovered the shortage, Mr. Boggs replaced the missing funds, reported the shortage to the Commission, and instituted a new bookkeeping system. The Commission also found that Mr. Boggs had, on more than one occasion, provided an inaccurate closing statement to the seller in a real estate transaction.

BOYCO PROPERTIES, INC. (Raleigh) - The Commission revoked Boyco Properties, Inc.'s corporate real estate broker's license effective January 6, 1992. The Commission found that the corporation had failed to maintain trust monies in a trust or escrow account, had failed to account for and remit an earnest money deposit within a reasonable time, had converted trust monies to its own use, and had commingled trust monies with the firm's funds. The Commission also found that the corporation had failed to make and retain adequate records of its brokerage transactions, and refused the Commission's auditor access to its trust account records.

BRET J. BOYD (Raleigh) - The Commission revoked Mr. Boyd's broker's license effective January 6, 1992. The Commission found that Mr. Boyd, as principal broker and broker-in-charge of a real estate corporation, had failed to maintain trust monies in a trust or escrow account, had failed to account for and remit an earnest money deposit within a reasonable time, had converted trust monies to his own use, and had commingled trust monies with his own funds. The Commission also found that Mr. Boyd had failed to make and retain adequate records of his brokerage transactions, and had refused the Commission's auditor access to his trust account records.

PATRICIA H. BRIGGS (Chapel Hill) - By Consent, the Commission reprimanded Ms. Briggs effective January 10, 1992, for acting as a real estate salesman after her real estate license had expired.

JEROME M. LEVIT (Chapel Hill) - By Consent, the Commission suspended Mr. Levit's broker's license for six months effective April 1, 1992. The Commission then stayed its Order and placed Mr. Levit on probation for one year on the condition that he complete the Commission's Trust Account Course. The Commission found that Mr. Levit, as principal broker of a corporation, had failed to adequately supervise a bookkeeping employee which led to a shortage in the firm's trust account. The Commission noted that, when he discovered the shortage, Mr. Levit terminated the employee, immediately notified the Commission, and executed a settlement agreement providing for the replacement of the missing funds. Mr. Levit did not admit any misconduct.

ALBERT N. MOSLEY (Duck) - By Consent, the Commission suspended Mr. Mosley's salesman's license for two years effective February 15, 1992. The Commission found that Mr. Mosley had been convicted of the criminal offenses of fraud and making false statements on a loan application.

ATHENA P. NELSON (Wilmington) -By Consent, the Commission suspended Ms. Nelson's broker's license for four years effective January 15, 1992. One year of the suspension is to be active, and the remaining period stayed. The Commission found that Ms. Nelson had commingled trust monies with her personal funds, had failed to keep accurate trust account records, and had failed to maintain ledgers and journals. The Commission also found that Ms. Nelson's license renewal check to the Commission had been dishonored, and that she had continued to engage in the business of a real estate broker after the expiration of her license.

CLEO SCREWS (Gastonia) - By Consent, the Commission reprimanded Mr. Screws effective February 21, 1992, for failing to comply with a county ordinance while developing and selling property which he personally owned.

JACKIE D. STANSELL (Bridgeton) -By Consent, the Commission suspended Ms. Stansell's broker's license for four years effective April 1, 1992. The Commission found that Ms. Stansell, while engaging in property management, had failed to maintain trust monies in a trust or escrow account, had failed to keep adequate records of the funds she collected, and had failed to properly account for or remit funds to the property owners.

VANGUARD ASSOCIATES, INC. (Chapel Hill) - By Consent, the Commission reprimanded Vanguard Associates, Inc., effective February 12, 1992. The Commission found that the corporation had failed to adequately supervise an unlicensed employee which led to a shortage in the firm's trust account. The Commission noted that, when the corporation discovered the shortage, it immediately notified the Commission and executed a settlement agreement providing for the replacement of the missing funds. Vanguard Associates, Inc., did not admit any misconduct.

JOHN W. VAUGHN (Mount Airy) -By Consent, the Commission suspended Mr. Vaughn's broker's license for two years effective January 15, 1992. One year of the suspension is to be active and the remaining period stayed for a probationary term of one year. The Commission found that Mr. Vaughn had been convicted of the criminal offense of possession of cocaine.

DEBORAH C. WALKER (Madison) -By Consent, the Commission suspended Ms. Walker's broker's license for one year effective February 15,1992. Six months of the suspension are to be active and the remaining period stayed for a probationary term of six months. The Commission found that Ms. Walker had made an inaccurate statement in a personal FHA loan application by stating that she would personally reside in a dwelling when, in fact, she was purchasing the property for investment purposes.

CRAIG A. WHITLEY (Charlotte)—By Consent, the Commission suspended Mr. Whitley's broker's license for five years effective March 1, 1992. Three years of the suspension are to be active and the remaining period stayed for a probationary term of two years. The Commission found that Mr. Whitley, while acting as a broker for a real estate firm, had falsified and altered a preprinted offer to purchase and contract form and signed the form on behalf of the buyers without their permission. The Commission further found that after he had left the firm, Mr. Whitley endorsed a commission check made payable to his former employer and deposited the check into his personal account. Mr. Whitley neither admitted nor denied any misconduct.