Alberta man trading real estate illegally

by REP18 Nov 2014
A man in Alberta is illegally trading real estate and providing mortgages, despite a cease and desist order from the Real Estate Council of Alberta.

Derek Johnson, who is currently involved with the brand, was previously operating under Free List Calgary, as well as Partners in Success Mortgage and New Age Financing. None of these brands, however, are licensed to buy and sell real estate, or provide mortgages.

Earlier this year, RECA fined Johnson a total of $50,000 on two separate charges of posing as an agent. He was also fined $15,000 for the same charge a year earlier. Johnson hasn’t paid any of those fines.

"The right to participate in contract and commerce is a fundamental human right," Johnson wrote in an email to the CBC.

However, Johnson appears to violate the rights of others, mainly targeting vulnerable people whose homes are in foreclosure.

"We find it's for nefarious purposes, and that is that they want to generate cash flow," Charles Stevenson of RECA told the CBC. "If at all possible they'll find a way to steal identity, perpetrate mortgage fraud and move the people on through without their knowledge."

In its most recent press release, RECA said it is taking further action, though it would not specify.

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