[ad_1]
SINGAPORE – A property agent was fined $27,000 and suspended for 10 months for altering documents to collect additional commissions when he was not authorised to do so.
The Council for Estate Agencies (CEA) said on Monday (Dec 23) that its disciplinary committee fined property agent George Peh Meng Woon for three charges in relation to breaches of the council’s code of ethics and professional client care.
Peh, 45, who is from KF Property Network, also had his property agent registration suspended for 10 months over the three charges.
The suspension started on Monday, the CEA said in a statement.
Peh was formerly a property agent with DTZ Property Network (DTZ) when he committed the breaches. He pleaded guilty to three charges of altering documents without DTZ’s authorisation to disguise and obtain commissions of $5,140, $29,040 and $21,699 as property management fees.
In total, Peh received $64,664 from these transactions as well as co-broking fees, which was about seven times more than what he would otherwise have received.
He also failed to declare the additional commissions to DTZ.
[ad_2]
Source link
