Hearing: August 21-22, 2014
Mr. Kadioglu has filed an application to the British Columbia Supreme Court, seeking a judicial review of the Financial Services Tribunal’s decision. Mr Kadioglu’s penalty has been stayed pending the outcome of the judicial review.
Ahmet Murat Kadioglu, while licensed with Homeland Realty and then Amex-Fraseridge Realty, was acting for a buyer in the purchase of a property. During the period he was acting for the buyer, Mr. Kadioglu changed brokerages. He prepared an offer for his client, using a Contract of Purchase and Sale which indicated that Mr. Kadioglu’s former brokerage was providing agency to the buyer. After the offer was accepted, Mr. Kadioglu changed the Contract of Purchase and Sale to make it appear that the contract had been prepared on a later date by his new brokerage, and indicated that the deposit was to be made payable to his new brokerage. His actions contravened section 3-4 of the Rules, which requires licensees to act honestly and with reasonable care and skill.
Mr. Kadioglu failed to act honestly when he made the changes to the contract without the authorization or consent of his former brokerage. This contravened section 3-4 of the Rules.
Mr. Kadioglu also failed to act honestly when he turned the amended contract into his new brokerage, indicating that he wrote the contract after he became licensed with the new brokerage. This was not true, and his actions contravened section 3-4 of the Rules.
In its Decision and Order with Respect to Penalty, a discipline committee of the Council ordered the following:
- Mr. Kadioglu’s licence is suspended for 30 days.
- Mr. Kadioglu must pay enforcement expenses of $14,001.74 to the Council.
- At his own expense, Mr. Kadioglu must successfully complete components 1 and 3 of the Accelerated Residential Trading Services Applied Practice Course.
Mr. Kadioglu subsequently filed an appeal with the Financial Services Tribunal (FST). In its decision, the FST dismissed the appeal on all grounds, and confirmed the Penalty Decision of the discipline committee.
Updated February 28, 2017.