Somerville and Peabody Police yesterday arrested Kandy Farkhanda Shah, a real estate broker on several charges, including embezzlement and larceny. Kandy was mentioned to be the real estate agent representing the listing. A woman submitted an offer to Shah to purchase the house with a $7200 deposit. According to The Summerville News, she then asked Shah to provide documentation of the sale’s approval which Shah allegedly refused to do, police said. When the deal did not go through, Shah refused to refund the woman’s money, police said. A few of Kandy’s other alleged victims can be found at http://www.incredibleagents.com/real-estate-agents/MA/Peabody/K-Realty/1912387/Kandy-Shah.html too.
Not sure about Massachusetts law so I’m not sure how the agent could have received the payment. In Texas, downpayments, in the form of earnest money, are made to the title company and option fees are made out to the seller. I could never see a situation where you make an offer to buy and cut a check to the agent. Can a MA real estate agent please tell me what I’m missing? I don’t understand how she got away with it so many times.