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Winnipeg Free Press - PRINT EDITION

Broker charged with real estate, mortgage violations

Posted: 03/26/2014 1:00 AM | Comments: 0

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The Manitoba Securities Commission has charged local real estate broker David Douglas with numerous violations under the Real Estate Brokers Act (REBA) and the Mortgage Brokers Act (MBA).

The commission said Tuesday the allegations, which have not been proven, relate to real estate and mortgage transactions involving three Winnipeg properties.

The commission is seeking to cancel Douglas's registration under the REBA, as well as further sanctions under the MBA. It's also seeking to cancel the registration of his company, Homelife Village Realty, and Geraldine Douglas, the company's authorized official who is alleged to have failed to supervise business transactions and conduct.

A public hearing into the allegations is set for next month at the MSC offices.

A number of local investors filed lawsuits last year against Douglas, claiming they lost thousands of dollars in real estate dealings involving him and his companies.

Republished from the Winnipeg Free Press print edition March 26, 2014 B7

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