Another warning for investors in Alberta

With oil prices in decline, investors in Alberta have enough causes for concern. But here's one more.

The Real Estate Council of Alberta has brought a court injunction against another real estate agent, an individual suspected of being an associate of Derek Johnson, who was ordered to cease and desist trading in real estate and mortgages in 2014.
RECA said it was able to serve Kevin Manji with the same court-ordered injunction since the order covers any of Johnson’s associates.
“RECA has reason to believe that Mr. Manji is an associate of Derek Johnson’s,” said Natalie Scollard, communications co-ordinator with RECA. “We’ve served that same injunction because it names Derek Johnson and his associates.”
The injunction, originally filed late last year, ordered Johnson – a.k.a., John Davis – to pay $2,500 in fees and remove his websites and social media posts, since he is not licensed to trade in real estate or mortgages.
Last year, RECA promised to take further action against Johnson, who has not yet complied with any of RECA’s cease-and-desist orders, or paid any RECA fines, which now total $65,000.
For his part, Manji was found to be listing properties he doesn't own on sitessuch as Kijiji, and was calling himself a licensed real estate professional.
Scollard said RECA has brought disciplinary actions against Manji in the past, also for engaging in unlicensed activity.
“This is a consumer protection issue,” she said. “There’s much more protection afforded to a consumer when they’re working with a licensed individual. The consumer protection fund, for instance, only applies when working with licensed agents.”

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