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February 25, 2009
A real estate agent has lost his license after falsely inflating the sales prices on luxury homes in an exclusive gated community in Utah.
Ronald K. Clarke will be unable to apply for a new real estate license until five years after his prison sentence and probation have been completed. The Real Estate Commission will decide whether Clarke can renew his license at such time.
Clarke allegedly teamed up with Bradley Kitchen, of Home Owners Group, to inflate home sales prices on four homes. One home actually sold for $2,150,000, but was listed at $2,375,000 so that they could benefit from higher commissions and drive up neighboring real estate prices.
Clarke has also been fined $22,000 in civil penalties.
Read story at Beyond the Universe
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