Nfld. & Labrador

Exit Realty on the Rock investigation expected to take at least 6 more months

The Royal Newfoundland Constabulary believes an ongoing criminal probe into Exit Realty on the Rock and company owner Anne Squires will continue into the fall.

RNC court filings seek extension of detention order for items seized through search warrant

Anne Squires of Exit Realty on the Rock addresses reporters on Feb. 6, 2016, two days after the company had its licence suspended by provincial regulators. (Meghan McCabe/CBC)

The Royal Newfoundland Constabulary believes it will take at least another six months to conclude an ongoing criminal probe into Exit Realty on the Rock and company owner Anne Squires.

The investigating officer made those remarks in court filings seeking approval from a judge to hold onto items seized from the real-estate firm's offices in February.

"Reason for further detention of items is the investigation is still ongoing and will be at least six to seven months before completed and charges laid," the application by Const. David Crowley noted.

In those documents, the police said they are still waiting for bank records related to Exit Realty on the Rock.

They also noted that it will take six months to analyze the electronic equipment seized at the firm's head office on Kenmount Road in St. John's.

The RNC executed a search warrant there on Feb. 16.

The Royal Newfoundland Constabulary executed a search warrant at the Kenmount Road head office of Exit Realty on the Rock on Feb. 16, 2016. (CBC)

According to court filings, they seized a variety of financial records, smartphones, hard drives and other computer equipment.

The RNC application to keep all of those items is expected to be heard by a judge next month.

Squires is being investigated after allegations of theft, fraud and breach of trust.

No charges have been filed.

She is now being represented by prominent St. John's criminal defence attorney Randy Piercey.

Exit Realty on the Rock was forced into receivership in early February, after provincial regulators pulled its licence.

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