Anne Squires under RNC investigation for theft, fraud and breach of trust
Police officers execute search warrant at Exit Realty on the Rock offices
The Royal Newfoundland Constabulary is investigating allegations of theft, fraud and breach of trust against the owner of Exit Realty on the Rock, according to court documents obtained by CBC News.
Police made a series of allegations against Anne Squires in a document called an information to obtain a search warrant, or ITO.
The contents of the ITO have not been proven in court, and Squires is not facing any charges.
In the ITO, Const. David Crowley of the RNC's economic crime unit alleges that Squires:
- "has taken money from the trust account, which Squires is not allowed to do, as that money belongs to clients that is put in the trust account to hold for security for purchasing of residential or commercial property";
- "made up false purchase and sales agreements, putting false names and addresses on these agreements and submitting them to a company called Access Easy based in Toronto, Ontario, to get her commission from the 'false' sales in advance."
According to the document, police began their investigation in late January.
Other people associated with the company told police about alleged irregularities with the trust account and "false sales" to get commissions from the Ontario company, according to the ITO.
According to the ITO, the province's superintendent of financial services regulation was told by Squires on Feb. 2 that she was in financial trouble, and that there should be $123,750 in the company's trust account. But the account was empty.
Another employee alleged that Squires owed Access Easy in Ontario roughly $528,000, and said Squires told her she needed to find $100,000 for her or "we are all going to jail."
According to the search warrant documents, the financial situation got so bad that Exit Realty Corp. International loaned Squires $1.2 million last year to help with her financial troubles.
Squires was supposed to repay about $23,000 per month, according to the ITO, but made only one payment in December.
A judge signed off on the warrant permitting police to search Exit Realty on the Rock's Kenmount Road offices between 9 a.m. and 5 p.m. on Tuesday.
None of the allegations in the 10-page ITO has been proven, and it's not clear what, if anything, the police seized there.