Disciplinary Action

The Real Estate Licensing Board revoked the broker's license of CALVIN C. HENSON of Franklin for converting escrow funds to his own use. The Board found that Henson received a check for $54,000 from a lender representing mortgage loan proceeds. Henson deposited the check in his escrow account, but used some of the funds for personal expenses. His trust account check to the seller was returned for insufficient funds.

The Licensing Board revoked the broker's license of SHIRLEY T. COX of Sanford for engaging in "contract kiting". The Board found that she encouraged and assisted home purchasers to give false information to a lending institution to enable them to obtain a larger loan. The Board found that she told the buyers to tell the lender that the sale price was higher than the contract amount, and that they had made a larger earnest money deposit than was actually paid.

Although the Board's order of revocation was originally effective in August of 1979, the order was stayed while Mrs. Cox appealed to the Superior Court of Wake County. Judge Harry C. Canaday affirmed the Board's order in November, 1979, but Mrs. Cox appealed further to the North Carolina Court of Appeals. That court affirmed the order in June, 1980, and the North Carolina Supreme Court refused to review the decision on September 15, 1980.

The Licensing Board revoked the broker's license of DAVID G. BOUTWELL, formerly of Kinston, for failing to deposit $10,000 in earnest money in an escrow account, and converting the funds to his own use. He subsequently failed to account for said funds to his client.

The Licensing Board by Consent Order reprimanded broker PATRICIA S. RAINES of Charlotte for failing to collect an earnest money deposit specified in a contract of sale.

The Licensing Board by Consent Order reprimanded broker E. E. (GENE) FISHER of Charlotte for failing to retain copies of a listing agreement and sales contract for at least three years, as required by the Board's regulations.

The Licensing Board by Consent Order reprimanded broker DONALD H. DUSSAULT, JR., of Elizabeth City for failing to deposit earnest money in his escrow account within 72 hours of receipt, and for failing to maintain proper trust account records.

The Licensing Board suspended the broker's license of JACK P. JURNEY of Chapel Hill for six months for failing to deposit in his escrow account an earnest money check for $8,500, and later returning said check uncashed to the buyer without the knowledge of the seller.

The Licensing Board censured broker BILLY DALE STANCIL of Banner Elk for allowing unlicensed persons to engage in property management for others.