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The Real Estate Division warns of
property rental scam.
Want the keys? Don’t wire the cash!
The Real Estate Division has learned of a property rental
scam that fraudulently uses the name of the National Association of
REALTORS®.
Rental property is being offered to prospective tenants under the guise
that the National Association of REALTORS® (NAR) is acting as an
intermediary to receive deposits and then provide keys to the
properties. The tenants are advised to wire money to NAR’s supposed
office in the United Kingdom. NAR is not acting in this capacity, and
they have notified law enforcement officials of the scam.
“There
are two tip-offs that this is a scam,” says Gail Anderson, Real
Estate Division Administrator. “First, any time you are asked to
wire money, it’s almost always a scam. The fact that you’re sending the
money overseas is your second clue that you should hold on to your cash.”
If
you have been a victim of this scam, file a complaint with the Internet
Crime Complaint Center at
www.ic3.gov/default.aspx/.
Consumers are also encouraged to visit the
Fight Fraud Website at
http://fightfraud.nv.gov/. The
site includes extensive tips on how to prevent several kinds of fraud
and provides downloadable complaint forms to help you respond
effectively if you become a victim. Visit it regularly for the latest
fraud alerts. |
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Real estate broker fined for fraud, |
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has license suspended for 25 years |
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The Nevada Real Estate Commission has suspended the license
of American Executive Realty real estate broker Elvis Nargi for an additional 10
years, for a total of 25 years, and fined him $250,000 for renting out
foreclosed properties to unsuspecting tenants.
Based on a comprehensive case brought by the
Real Estate Division, Mr. Nargi’s license had originally been suspended for 10
years because of 25 violations of NRS/NAC 645. An additional 15-year suspension
and the substantial fine were added after he failed to appear at his hearing.
“Unscrupulous brokers like Mr. Nargi unfairly
tarnish the reputations of our honest, hard working real estate licensees,”
said Gail Anderson, Administrator of the Nevada Real Estate Division. “We are
very pleased that he can no longer conduct real estate transactions in Nevada.”
In addition to the fine, Mr. Nargi is also
required to pay nearly $2,000 in hearing costs.
For more information about the Real Estate
Division, including a listing of disciplinary actions taken against licensees,
visit
http://www.red.state.nv.us/.
Mortgage Lending Division
Revokes Licenses, Issues Fines Totaling $ 18,050, for Licensee Misconduct
The Division of
Mortgage Lending continues to vigorously discipline licensees who have violated
NRS 645B. It recently revoked the licenses of four licensees and fined them a
combined amount of $18,050.
Revocation actions were taken
against the following mortgage agents and brokers for violations ranging from
unlicensed activity to improper use of consumer credit information:
· Yasmit Requena –$5,000
fine
· Mortgage Loan
Specialists - $10,000 fine
· Stanley Watkins -
$2,500 fine
· Dulce Salinas - $550
fine
“We are committed to
taking strong action against licensees who violate our laws,” said Mortgage
Lending Commissioner Joseph Waltuch. “It is critical that we help to restore
the public’s faith in the mortgage lending industry by penalizing the bad
actors.”
For more information about
the Division of Mortgage Lending, visit
http://mld.nv.gov/index.htm.
