Disciplinary Action

FRED L. BIVENS (Raleigh) - The Commission revoked Mr. Bivens' broker's license effective December 6, 1988. The Commission found that Mr. Bivens had pleaded guilty to two criminal offenses involving moral turpitude which would reasonably affect his performance in the real estate business; namely, bank fraud and making a false statement to a federally insured financial institution.

BEVERLY E. BRANCH (Murphy) - The Commission revoked Ms. Branch's broker's license effective November 28, 1988 for failing to make her trust account records available for inspection by the Commission.

BERNADETTE CROSBY (Charlotte) - By Consent, the Commission suspended Ms. Crosby's broker's license for one year effective December 1, 1988. Three months of the suspension are to be active and the remainder suspended for a probationary period of one year. The Commission found that Ms. Crosby, while licensed as a real estate salesman, had failed to notify the Commission as to the Broker-in-Charge by whom she was supervised. Ms. Crosby neither admitted nor denied this finding.

WILLIAM D. DAVIS (Murphy) - By Consent, the Commission suspended Mr. Davis' broker's license for one year effective February 1, 1989. Three months of the suspension are to be active and the remainder was suspended for a probationary period of one year. The Commission found that Mr. Davis had made false statements to a purchaser by informing the purchaser that the listed price for a home and certain acreage was $57,000 when, in fact, no separate price had been established by the seller for this property which was part of a larger tract of land. The Commission also found that Mr. Davis had failed to inform the seller of the buyer's offer to purchase the separate tract.

ANDREW JACKSON DEBMAN (Garner) - The Commission revoked Mr. Debnam's salesman's license effective November 9, 1988 for making a false statement on his application for a real estate license and for his conviction of a criminal offense involving moral turpitude which would reasonably affect his performance in the real estate business, namely, trafficking, conspiracy to traffic and conspiracy to sell and deliver a controlled substance.

JOHN W. EBY (New Hanover County) -The Commission revoked Mr. Eby's broker's license effective dune 29,1988. The Commission found that Mr. Eby had misrepresented to a purchaser that units in a planned project were being offered for sale when, in fact, they were not. The Commission also found that he had obtained on one of the units a $5,000 deposit which he failed to deposit in a trust account and instead converted to his own use, and that he had failed to maintain records of the receipt and disbursement of such deposit.

DAVID L. GODWIN (Fayetteville) - By Consent, the Commission revoked Mr. Godwin's broker's license effective October 10, 1988. The Commission found that Mr. Godwin had commingled his own funds with those funds which he held for others and that his trust account did not contain monies sufficient to equal the amount of trust funds which he had received from others. The Commission noted that Mr. Godwin maintained accurate records of the transactions affecting his trust account.

FREDERICK K. KELLUM (Fayetteville) -The Commission revoked Mr. Kellum's salesman's license effective November 21, 1988 for failing to deliver trust funds to his supervising Broker-in-Charge and for failing to account for and remit such funds.

LARRY C. LANGLEY (Blowing Rock) -By Consent, the Commission reprimanded Mr. Langley for failing to disclose to the seller his role as a " straw buyer" in the purchase of real estate.

MAC, INC. t/a CHEROKEE LAND COMPANY (Murphy) - By Consent, the Commission accepted the permanent voluntary surrender of the corporate real estate license of MAC, Inc. The Commission found that a disciplinary matter was pending against the corporation alleging violations of the Real Estate License Law and Commission Rules, and that a separate disciplinary matter was pending before the Commission alleging that the principal of the corporation had pleaded guilty to a criminal offense involving moral turpitude. The coloration neither admitted nor denied any misconduct.

ROBERT L. MARTIN (Wa0County) - By Consent, the Commission suspended Mr. Martin's broker's license for forty-five days effective January 15, 1989. The Commission found that Mr. Martin, as owner of certain apartments, had improperly failed to maintain a tenant's security deposit in a trust account and had converted it to his own use.

CHARLES W.McHAN (Murphy) - By Consent, the Commission accepted the permanent voluntary surrender of Mr. McHan's broker's license. The Commission found that a disciplinary matter was pending against Mr. McHan alleging violations of the Real Estate License Law and Commission Rules, and that in a separate disciplinary matter, he had pleaded guilty to a criminal offense involving moral turpitude which would reasonably affect his performance in the real estate business; namely, possession with intent to distribute a controlled substance.

NELSON B. MILLER and TOPSAIL LAND COMPANY, INC. (Sneads Ferry) -The Commission revoked Mr. Miller's broker's license and the corporate real estate license of Topsail Land Company, Inc. effective dune 1, 1986. Mr. Miller had appealed the Commission's Order to Wake County Superior Court which affirmed the Commission's Decision and Order in its entirety. The Commission found that Mr. Miller and Topsail Land Company had collected insurance premiums that included a secret, additional administrative fee from purchasers of units in a townhouse project without the full knowledge of the insurance company and the unit purchasers. The Commission also found that Mr. Miller had forged the insurance company's endorsement on the premium checks and failed to apply the monies collected to the purchase of the insurance.

JOHN M. O'NEILL (Chapel Hill) - By Consent, the Commission suspended Mr. O'Neill's broker's license for five years effective December 15, 1988 for failing to properly maintain the trust accounts of the real estate firm for which he was designated Broker-In-Charge.

WANDA A. POOLE (Hickory) - The Commission suspended Ms. Poole's broker's license for one year effective June 19, 1988 for making an unauthorized disbursement of an earnest money deposit which she knew to be the subject of a dispute.

JULIEN D. RATTELADE (Wake County) -By Consent, the Commission reprimanded Mr. Rattelade. The Commission found that Mr. Rattelade, as Broker-in-Charge of a real estate company, had failed to ensure that the lease form employed by the company complied with the Tenant Security Deposit Act. The Commission also found that he failed to ensure that tenant security deposits were maintained in a trust account, and that all trust accounts of the company were properly designated as trust or escrow accounts. The Commission further found that Mr. Rattelade had failed to notify a tenant that the tenant's security deposit had been forwarded to the landlord.

RIPARIAN, INC. (Carolina Beach) - By Consent, the Commission revoked the corporate real estate license of Riparian, Inc. effective October 1, 1988 for failing to disclose material facts to condominium purchasers concerning the payment of common area assessments by the project owner. Riparian neither admitted nor denied the allegations.

RONALDO INVESTMENT CORPORATION (Charlotte) - By Consent, the Commission revoked the corporate real estate license of Ronaldo Investment Co*oration effective December 31, 1988. The Commission found, on the basis of its inspection of the co*oration's trust account, that there was a shortage in the account at the time of the inspection. The coloration neither admitted nor denied this finding.

ALAN B. RUBENSTEIN (Greenville) - By Consent, the Commission revoked Mr. Rubenstein's broker's license effective January 18, 1989 upon finding that Mr. Rubenstein had been convicted of a criminal offense involving moral turpitude which would reasonably affect his performance in the real estate business; namely, possession with intent to sell a controlled substance.

WILLIAM R. SHELTON (Wilmington) -By Consent, the Commission revoked Mr. Shelton's broker's license effective December 15, 1988 upon finding that Mr. Shelton had been convicted of a criminal offense involving moral turpitude which would reasonably affect his performance in the real estate business; namely, larceny of goods of a value of more than X400.

FRED M. SILVER (Blowing Rock) - By Consent, the Commission suspended Mr. Silver's broker's license for one year effective January 1, 1989. The Commission then suspended its Order and placed Mr. Silver on probation for one year. The Commission found that Mr. Silver, as listing agent, had failed to disclose to the sellers his purchase of their property through a "straw buyer." The Commission noted in its findings that Mr. Silver had entered into a civil settlement with the sellers.

SOUTHLANTIC MANAGEMENT CORPORATION (Wake County) - By Consent, the Commission reprimanded Southlantic Management Corporation for employing a lease form which did not comply with the Tenant Security Deposit Act, for forwarding a tenant security deposit to the landlord without the tenant's consent, and for failing to designate accounts as trust or escrow accounts.

STO-MYER PROPERTIES, INC. (Roanoke Rapids) - By Consent, the Commission suspended the corporate real estate license of Sto-Myer Properties, Inc. for two years effective April 1, 1989. The Commission then suspended its Order and placed the corporation on probation for two years. The Commission found that the corporation, as listing agent, had sold real estate to a business associate of its Principal Broker and Broker-ln-Charge, and that the sales contract for the real estate had contained a sales price $8,000 in excess of the actual sales price. Based upon this contract, a closing statement was prepared setting forth the inflated sales price, and an IRS Form 1099 was subsequently furnished to the sellers indicating a greater profit than was actually realized. The Commission noted that the corporation had made a private resolution of this matter satisfactory to the sellers.

W. THOMAS STORY, JR. (Roanoke Rapids) - By Consent, the Commission suspended Mr. Story's broker's license for two years effective April 1, 1989. Two months of the suspension are to be active and the remainder was suspended for a probationary period of two years. The Commission found that Mr. Story, as listing agent, had sold real estate to a business associate, preparing a sales contract which contained a sales price $8,000 in excess of the actual sales price. Based upon this contract, a closing statement was prepared setting forth the inflated sales price, and an IRS Form 1099 was subsequently furnished to the sellers indicating a greater profit than was actually realized. The Commission noted that Mr. Story had made a private resolution of this matter satisfactory to the sellers.

WALTER T. TICK, JR. (Greensboro) - By Consent, the Commission revoked Mr. Tick's broker's license effective December 15, 1988 upon finding that he had been convicted of a criminal offense involving moral turpitude which would reasonably affect his performance in the real estate business; namely, malfeasance of corporate officers and agents in connection with his handling of funds for a private organization.

THEADORE A. TINSLEY (Carolina Beach) - By Consent, the Commission suspended Mr. Tinsley's broker's license for two years effective March 1, 1989. The Come. mission then suspended its Order and placed Mr. Tinsley on probation for two years. The Commission found that Mr. Tinsley, as developer and owner of certain condominium units, had failed to disclose to persons who had purchased units that the development company was not paying common area assessments in the same manner as other owners. Mr. Tinsley neither admitted nor denied the allegations.

FRANCES E. WADDELL (Chapel Hill) -By Consent, the Commission revoked Ms. Waddell's broker's license effective November 1, 1988 for failing to properly maintain the trust account of a real estate firm for which she was designed Broker-in-Charge. MA Waddell neither admitted nor denied the~allegations of misconduct.

JEANNIE S. WARNER (Carolina Beach) -By Consent, the Commission suspended Ms. Warner's broker's license for one year effective December 1, 1988. The Commission then suspended its Order and placed Ms. Warner on probation for one year. The Commission found that Ms. Warner, as Broker-in-Charge of a real estate company, had failed to personally and actively supervise a real estate salesman Associated with the company and did not exercise adequate control or supervision over the conduct of the company.

WATSON & WATSON, LTD. (Greensboro) - The Commission suspended the corporate real estate license of Watson & Watson, Ltd. for two years effective October 15, 1988. The Commission found that the corporation had failed to allow a Commission representative to inspect Its trust account records and failed to maintain accurate records of the receipt and disbursement of trust funds. The corporation appealed the Commission's Order to the Guilford Superior Court which affirmed the Commission's Order.

JOSEPH D. WILLIAMS (Winston-Salem) -By Consent, the Commission suspended Mr. Williams' broker's license for sixty days effective March 1, 1989 and required him to complete Commission-approved courses in Real Estate Finance and Real Estate Law by March 1, 1990. The Commission found that Mr. Williams had prepared offers to purchase and contracts which did not accurately reflect terms orally agreed to by the parties, including provisions regarding the receipt of earnest money deposits which were, in fact, never received and provisions stating a sales price which was in excess of the price actually agreed upon. The Commission also found that Mr. Williams had failed to deposit an earnest money deposit in a trust account and had commingled client funds in his personal account. The Commission noted, however, that the transactions involving the contracts did not close.