The real estate licence of a prominent Cambridge real estate agent has been revoked over alleged fraudulent transactions.
Kelly Da Costa allegedly committed multiple inappropriate transactions at three different homes he was selling, breaching professional obligations in exchange for personal gain in contravention of the Real Estate and Business Brokers Act.
The allegations were first brought to the attention of the Real Estate Council of Ontario via an anonymous complaint.
Hearings in front of a Toronto tribunal in the case took place in May.
Last week, the tribunal decided that Da Costa’s licence be revoked until a time when he “can reassure the industry and the regulator that he is once again suitable to hold a registration.”
The incidents in question involved three homes in Cambridge – one each on Beverly, Hewat and Lowell streets – and took place between November 2007 and January 2010.
A lawyer representing Da Costa says his client plans to appeal the decision and ask for the licence to be suspended, not revoked entirely.
Da Costa, who had been a registered real estate agent since 1989, did not wish to comment.
