33-18-1988

Licence number

C1623

Broker's name

Sayegh, Magdi

Decision

NOTICE OF A LICENCE SUSPENSION
MAGDI SAYEGH (C1623)
Registry file: 33-17-1988

Be advised that on April 10, 2019, the Court of Québec confirmed the decision of the Discipline Committee that ordered the suspension of Mr. Sayegh’s real estate broker licence, whose establishment is located in Québec, from April 15, 2019 to February 15, 2021, for committing the following offences:

Counts 1 and 2:Between or about March 27 and September 2, 2014, concerning an immovable, and between or about August 3, 2014 and September 5, 2014, concerning an second immovable, while he was the principal shareholder of the seller:

a) drafted the preliminary contract for the prospective buyer;
b) entered in clause 3.1 of the said preliminary contract the remittance of a deposit while he knew or could not be unaware that the said deposit would not actually be paid;
c) failed to ensure that the financial institution is aware that the said preliminary contract did not represent the actual agreement between the parties;
d) signed a nominee agreement with the prospective buyer and a third party.

Count 3: a) As of March 27, 2014, concerning an immovable and b) as of August 3, 2014, concerning another immovable, failed to ensure that three prospective buyers are informed in writing that on September 26, 2013, the Syndicate of co-owners Jhad “resolved to adopt a special budget for urgent and non-urgent work that will be broken down for execution, except to be completed in a timely fashion" for the following immovables.

Count 4: On or about October 7 and 10, 2014, borrowed amounts of money from a third party on two occasions.

Count 5: On or about January 30, 2015, concerning an immovable, while he was the owner of the said immovable, let the buyer sign the deed of sale for the said immovable for an amount of $150,000, while he knew or could not be unaware that this amount did not represent the actual selling price agreed to between the parties.

Brossard, April 15, 2019

Renée Dionne
Discipline Committee Secretary