State regulators have revoked the license of a Holladay real-estate broker accused of diverting funds from a transaction to her own use, an order said.
Janet Sparrow-Sinclair retained funds she was not entitled to as a way to pay herself back for alleged damages suffered in a failed real-estate deal, the order said."(Sinclair's) decision to engage in such self-help, while consistent with her own perceived interests, was entirely at odds with the interests" of the other party, administrative law judge Steven Eklund said.
Sinclair and the other party were in a heated dispute; "nevertheless, Sinclair is a licensed principal broker and should be accordingly held to a higher standard of integrity and honesty," Eklund ruled.
Sinclair's license has been inactive for a year, the order said.
The order said Sinclair purchased an apartment complex from Glen C. Wimer three years ago. Two months later, Sinclair determined Wimer had made misrepresentations about the rental complex and turned the property back over to Wimer.
But Sinclair illegally kept money that was to go toward property taxes, tenant deposits and prepaid garage rental fees after she relinquished the property to Wimer, the order said.
That violation, however, was the only one upheld out of several brought by the state Division of Real Estate. Eklund found Sinclair not guilty of charges of dishonest dealing, fraudulent misrepresentation and making false promises, the order said.