Brekland Realty Group Update – Dec. 2012
Tuesday, Dec. 4, 2012 (Toronto) – On October 9, 2012, the Real Estate Council of Ontario (RECO) brought an Application before Mr. Justice Campbell of the Ontario Superior Court, and obtained an order for directions relating to the disposition of assets, trust funds and land that were subject to the Director’s Freeze Order of February 1, 2012 against Monster Realty Corporation, operating as Brekland Realty Group (Brekland).
As part of this Application, RECO obtained an Order establishing a claims process for claims against Brekland and appointing a Claims Distribution Officer to implement the claims process. On November 21, 2012 Mr. Justice Newbould issued an Order appointing BDO Canada Limited (“BDO”) as the Claims and Distribution Officer for the purpose of taking control of bank accounts and funds subject to the Freeze Order, and for establishing, conducting and completing a
claims and distribution process for any claims against Brekland’s frozen bank accounts.
Any person who feels that he or she has a claim against monies in the frozen bank accounts of Brekland has until 5:00 p.m. on February 8, 2013 to submit a claim to BDO Canada Limited. After February 8, 2013 no claim will be considered.
For information on how to submit a claim, please click on this link: http://www.bdo.ca/monsterrealty
A copy of the October 9, 2012 Order of Mr. Justice Campbell is at this link:
A copy of the November 21, 2012 Order of Mr. Justice Newbould is at this link:
For any questions relating to the Claims Process, please call Ken Pearl of BDO Canada Limited at 416‐369‐3063.
On April 24, 2012, the Registrar of RECO carried out a Notice of Proposal to revoke the registration of Brekland under the Real Estate and Business Brokers Act, 2002 (REBBA 2002).
Brekland was registered as a real estate brokerage in 2006 under REBBA 2002. Its head office was at 2650 Meadowvale Blvd in Mississuaga, and it operated branch offices at 1137 Crofton Way in Burlington, 482 South Service Road in Oakville, and 55 Ontario Street, Suite 5A in Milton.
In early January 2012 RECO discovered during a routine inspection that a considerable sum of money was missing from Brekland’s bank accounts. On February 1, 2012, the Registrar issued an Immediate Suspension Order under Section 15 of REBBA 2002 to suspend Brekland’s registration, and a Freeze Order to secure Brekland’s bank accounts and any lands in which it might have an interest. On the same day the Registrar issued a Notice of Proposal to revoke Brekland’s
registration as a brokerage under REBBA 2002.
In early February 2012, RECO laid charges under REBBA 2002 against Brekland, its owner, Jason Laramee, and Matthew Cappuccitti, its Broker of Record. On October 2, 2012, Matthew Cappuccitti pled guilty to one count of failing to prepare a trust reconciliation statement and one count of failing to authorize a transaction involving money that came into the brokerage’s hands in trust for another person. He was sentenced to a fine of $16,250 per count for a total of $32,500, plus a victim surcharge of $8,125, to be paid within six months. Brekland’s and Mr. Laramee’s cases are still before the Court.
RECO is responsible for administering REBBA 2002 on behalf of the provincial government. In order to trade in real estate in Ontario, brokers and salespersons must be registered with RECO.