Disciplinary Action

Penalties for violations 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.

DON W. AUSTIN (Emerald Isle) -Broker's license revoked effective June 30, 1985 for failing to disclose an offer to purchase to his principal; misrepresenting to a purchaser that he held title to and would convey certain real estate to such purchaser; failing to properly disclose the nature and extent of his personal financial interest in a real estate transaction; and attempting to conceal a real estate transaction from the firm which he purported to represent.

WILLIAM A. CANNADY (Jacksonville)By consent, broker's license revoked effective April 4, 1985 for failing to deposit earnest money deposits in a trust account; failing to remit moneys belonging to others; falsifying records and making false statements to the Commission's auditor; compensating an unlicensed person for performing acts which require a real estate license; converting earnest money deposits to his own use; failing to maintain proper trust account and transaction records; and making false statements on his application for licensure.

LYNDA A. COWAN (Sylva) - Broker's license revoked effective April 1, 1985 based upon criminal conviction of obtaining money under false pretense, an offense involving moral turpitude which would reasonably affect her performance as a real estate broker.

JOHN H. LEA (Morehead City) -Broker's license revoked effective April 1, 1985 based upon a no contest plea of felonious possession of marijuana, an offense involving moral turpitude which would reasonably affect his performance as a real estate broker.

JOHN P. MAHONE (Raleigh) - Broker's license revoked effective April 1, 1985 for converting earnest money deposits to his own use; failing to account for, remit, and maintain adequate records regarding the funds of others; failing to deposit earnest money deposits in a trust account, and making false statements and failing to make records available to the Commission's auditor.