California Real Estate Fraud Report

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Punishment for Nevada real estate broker in short sale fraud seen as light

The Reno Gazette-Journal has published a lengthy essay that highlights the weak punishment meted out to real estate licensees who facilitate short sale fraud.

In this case, real estate broker Kyle Krch of Krch Realty and his agent Michael Harding were fined by the Nevada Real Estate Commission. For 39 violations, Krch was fined $102,000 plus over $10,000 in fees for failing to “represent his distressed sellers and provide them a written disclosure about his financial interest with the investment group buying their properties.” Michael Harding has to pay $23,000 plus $3,167 in costs.

The article suggests that the punishment was not enough because neither licensee will have his license suspended.

So far, there is no indication that Washoe County District Attorney’s office or the Nevada Attorney General have any interest in prosecuting.



© Copyright 2007-2018 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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