CONCORD — The New Hampshire legal professional basic on Wednesday introduced an increasing investigation into actual property agent and dealer Daniel Twombly. He’s additionally dealing with an investigation in Massachusetts.
Twombly, a Hampton resident, is accused of failing to make roughly $250,000 in agent fee funds for transactions in latest months and misappropriating his agency’s escrow account after his suspension.
New Hampshire Legal professional Normal John Formella mentioned Wednesday his workplace’s Shopper Safety and Antitrust Bureau, the Actual Property Fee, and the Workplace of Skilled Licensure and Certification are all “actively investigating” the complaints in opposition to Twombly in addition to his actual property companies: NE Coast to Nation Realty Investments (Coast to Nation) LLC, RE/MAX Perception and RE/MAX On the Transfer.
Earlier story:Seacoast actual property agent suspended. RE/MAX closing Dover, Exeter, Hampton franchises.
Twombly has not responded to earlier requests for remark.
RE/MAX On the Transfer had workplaces in Hampton, Dover and Exeter. RE/MAX Perception’s workplaces have been in Manchester and Salem, in addition to in Dracut, Methuen, and Tewksbury, Massachusetts.
Marshall Hook, a spokesperson for the Massachusetts Workplace of Shopper Affairs and Enterprise Regulation, mentioned Wednesday the company has “an open matter pending for Mr. Twombly,” including we’re “unable to remark additional.” He mentioned Twombly’s license is now not energetic in Massachusetts.
New Hampshire petitioned for a receiver to take over, function, or shut the actual property companies “after it was discovered, upon inspection of its books and information, to be working in violation of the provisions of the legislation,” in keeping with Formella.
Twombly’s principal dealer license had been suspended by the state Actual Property Fee on March 11 “after receiving complaints that he had misappropriated funds held in an escrow account,” in keeping with Formella. The fee additionally sought the instant institution of a receivership and the appointment of a receiver over Coast to Nation.
New Hampshire investigators discovered Coast to Coast didn’t pay greater than $250,000 in commissions between Oct. 1, 2022 and Feb. 28. As well as, Twombly “had unique entry to the escrow account and licensed transactions after the time of his suspension, and prevented the Actual Property Fee from auditing the escrow accounts of Coast to Nation,” all in violation of state legal guidelines, in keeping with Formella.
Receiver obtainable to folks affected by alleged wrongdoing
The Merrimack County Superior Courtroom on Tuesday appointed a receiver, Jason Mills of principal of BCM Advisory Group LLC, to function Coast to Nation “to protect the belongings and reduce the monetary hardship to workers and shoppers,” in keeping with Formella.
Members of the general public who’re affected can attain Mills at (207) 807-9516 or [email protected], in keeping with Formella. BCM Advisory Group is situated at 22 Monument Sq., Suite 401 in Portland, Maine.
The fee and court docket orders are preliminary orders and topic to additional hearings.
New Hampshire Shopper Safety and Antitrust Bureau investigators might be reached at 1-888-468-4454 or [email protected]. Investigators with the Actual Property Fee and the Workplace of Skilled Licensure and Certification might be reached at (603) 271-6985.
Reporting by Ian Lenahan is included on this story.