FOR IMMEDIATE RELEASE
The OACIQ Discipline Committee has suspended Magdi Sayegh’s licence for 22 months and ordered him to pay a fine of $6,000
Brossard, November 12, 2019 – Sanction
The Discipline Committee of the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) has suspended Magdi Sayegh’s real estate broker licence for a period of 22 months and ordered him to pay a fine of $6,000, notably for using a nominee and price inflating scheme to mislead a financial institution in order to obtain better financing terms for himself. This was a repeated offence.
About the OACIQ
The Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) ensures the protection of members of the public who enlist the services of real estate and mortgage brokerage professionals governed by the Real Estate Brokerage Act. It is a member of the Real Estate Regulators of Canada (RERC), an organization that brings together all Canadian regulators in the area of real estate brokerage, building inspection, and co-ownership property management for some provinces.
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