Former Real Estate Licensee Ordered to Pay $627,000 for Misconduct

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BC Financial Services Authority (BCFSA) has cancelled the real estate licences of Andre Zubko and his personal real estate corporation and ordered Zubko to pay a combined $627,000 in discipline penalties and enforcement expenses. The orders follow findings that Zubko committed professional misconduct, deceptive dealing, and conduct unbecoming by acting against the best interests of his clients to obtain higher commission payments than he was entitled to under his listing agreements. In some cases, he arranged for his clients’ properties to be sold below market value to close acquaintances, who then profited by assigning the contracts. Zubko’s misconduct also includes dishonesty and failure to cooperate during BCFSA’s investigation.

BCFSA considered the severity of Zubko’s misconduct in determining the appropriate sanctions. In addition to the licence cancellations, Zubko has been ordered to pay discipline penalties totaling $320,000 related to eight property transactions, including $35,000 for remuneration he received. Four of the transactions took place before 2016 amendments to the Real Estate Services Act increased the maximum penalties for misconduct. BCFSA ordered the maximum $10,000 penalty then available respecting those transactions. Penalties for the later transactions, which were subject to the higher maximums per contravention, totalled $275,000. Zubko must also pay $307,000 in enforcement expenses to BCFSA.

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Gurneet Samra
Manager, Communications media@bcfsa.ca
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