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A prominent local real estate broker who?s been dubbed the condo queen has been fined $206,250 and had her registration suspended for four months after pleading guilty to six counts of trying to obstruct an investigation by the industry watchdog.
Marnie Bennett was being investigated by the Real Estate Council of Ontario (RECO) last year over allegations she hired non-registered employees to trade in real estate and improperly paid registered real estate agents.
Provincial Offences Court heard that between September and November of 2011 Bennett tried to obstruct the investigation by counseling an employee to make false statements to an inspector and trying to provide documents purporting that payments to her salespeople were loans rather than commissions.
Bennett, a radio personality and newspaper columnist who?s earned a long list of accolades including being named Ottawa?s professional businesswoman of the year, was fined $165,000 plus a victim surcharge after pleading guilty Friday.
When it was revealed early this year that Bennett was facing 18 charges, she issued a statement saying that ?it is no coincidence that these false allegations have been made by disgruntled ex-agents? and that none of the allegations related in any way to dealings with customers.
Under Ontario law, anyone trading in real estate has to be registered with RECO and only a brokerage is allowed to pay salespeople and brokers.
megan.gillis@sunmedia.ca
Tuesday afternoon Marnie Bennett released this statement:
"On November 2nd, 2012, I pleaded guilty to six charges under the Real Estate and Business Brokers Act, 2002. I take full personal responsibility for the conduct that led to these pleas. However I wish to make clear that these are regulatory matters and not criminal offences. The charges relate to an investigation by the Real Estate Council of Ontario (RECO) into direct payments of real estate commissions on new-home sales.
I would also like to clarify that the '"victim surcharge fee" referred to in the news release issued by RECO is legally required to be paid on all provincial offences fines in Ontario and does not reflect the existence of any "victim" in these regulatory matters. No consumers were harmed in any way by any of my conduct.
I appreciate the continuing support of my professional team, clients and colleagues in the industry. I can assure you that I and our company will continue to offer to all of you the best in professional service and expertise."
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