Disciplinary Action

Penalties for violations of the Real Estate License Law and Commission Rules and Regulations vary depending upon the particular facts and circumstances present in each case. Due to space limitations in the Bulletin, a complete description of such facts cannot be reported in the following Disciplinary Action summaries.

LORNE M. BLOOVOL (Wilmington)-By consent, broker's license suspended for nine months for converting trust funds to his own use; failing to deposit the funds of others in a trust account; and making a false statement to the Commission's auditor.

WILLIAM P. BRYANT (Franklin)-By consent, broker's license suspended for six months (three months active and one year probation) for converting trust funds to his own use. The Commission found, however, that Mr. Bryant periodically reimbursed his trust account for the funds withdrawn.

FREDERICK BULLOCK (Durham)-Salesman's license revoked for converting trust funds to his own use; failing to deposit the funds of others in a trust account; failing to deliver monies to his supervising broker; and engaging in improper and dishonest conduct.

CLAYTON R. CANNON (Newport) -By consent, broker's license suspended for thirty days (which Order was suspended and Mr. Cannon placed on probation for one year) for failing to maintain proper trust account records.

HOWARD DALE CAUDLE (Fayetteville)-By consent, broker's license revoked for failing to deposit the funds of others in a trust account; and refusing to comply with a court order requiring the refund of an earnest money deposit to a purchaser.

RENE Y. COOK (Jacksonville)-By consent, reprimanded for engaging in brokerage activity as a licensed salesman without the supervision of a broker. The Commission found, however, that her conduct did not result from an intentional contravention of the License Law.

WILL A. HUDSON (Raleigh)Broker's license suspended for forty five days for failing to disclose to a seller that he was acting for his sister who was the buyer in the transaction; failing to deposit the funds of others in a trust account; and for misrepresenting to the seller that he held certain funds in escrow. Mr. Hudson appealed the Commission's ruling which was affirmed by the Superior Court.

BARRY L. McKENNA (Charlotte)-By consent, broker's license revoked for failing to deposit the funds of others in a trust account and failing to maintain prior trust account records. The Commission found that numerous insufficient funds checks had been drawn on his trust account and that although Mr. McKenna had deposited personal funds to cover the shortage, the exact amount of the shortage could not be determined due to insufficient records.

JAMES M. MEDFORD (Asheville)-By consent, broker's license suspended for thirty days (which Order was suspended and Mr. Medford placed on probation for one year) for misrepresenting to a lender that a purchaser would be occupying a home in order for the purchaser to obtain a VA guaranteed loan.

JOY W. MYATT-KRAMER (Tryon) -Broker's license revoked for making false statements on her application for a nonresident real estate license.

HARRY G. TSUMAS-Broker's license revoked for converting trust funds to his own use; failing to deposit the funds of others in a trust account; and failing to properly account for the funds of others