Ontario Lawyers Gazette - The Law Society of Upper Canada

More documents

Recommendations

Info

• failing to disclose to the trust company the existence of theagreement of purchase and sale for the Property betweenthe second trust company and individual “A1" for $115,000;• failing to disclose to the trust company that on March 15,1996, two deeds of sale were registered on title to theproperty as follows:• the second trust company to individual “A1"for the consideration of $115,000;• individual “A1" to individual “G” for theconsideration of $190,000;• failing to disclose to the trust company that the mortgagefunds advanced were the only funds used to complete thetransaction, and, were partially disbursed to third parties,when those funds were intended to be paid on account ofthe purchase price of the property;• failing to disclose to the trust company that he also acted forindividual “A1", individual “A" and individual “A", in trust;• acting in conflict of interest by failing to protect the interestof the trust company who provided first mortgage financingby failing to disclose to the trust company that he was alsoacting for the vendor and that the properties were beingflipped at a profit;• he participated in a transaction whereby mortgage monies wereobtained and disbursed from his client, an insurance company, inrelation to the property at 15 Gosford Blvd., Unit 2, Toronto by:• failing to disclose to the insurance company that thepurchase price paid to individuals “H” and “I” for the propertywas less than the principal amount of the life insurancecompany’s mortgage;• failing to disclose to the insurance company the existenceof the agreement of purchase and sale for the propertybetween individuals “H” and “I” and individual “B”, in trust for$111,000;• commissioning a false and misleading land transfer taxaffidavit, in that, although the land transfer tax was paid onthe amount of $123,000, said affidavit in paragraph 4(a)provided for consideration in the amount of $123,000, whenthe actual consideration was less than that amount;• altering the consideration on the deed to be registered forthe sale of the property by individuals “H” and “I” to reflectthe increased purchase price of the property of $123,000;• failing to disclose to the insurance company that themortgage funds advanced were the only funds used tocomplete the transaction, and, were partially disbursed to10
third parties, when those funds were intended to be paid onaccount of the purchase price of the property;• commissioning a statutory declaration that he knew, orought to have known, falsely stated that the down paymentfor the purchase of the property was from individual “J”’sown resources and not borrowed;• failing to advise the insurance company that he was actingfor individual “B”, in trust;• acting in conflict of interest by failing to protect the interestof the insurance company who provided first mortgagefinancing by failing to disclose to the insurance companythat he was also acting for the vendor and that theproperties were being flipped at a profit;• he failed to maintain his books and records in accordancewith Subsections 6(1) and (2) of By-law 18 of the LawSociety Act.Hearing panel ordered that:• the member is permitted to resign his membership in the LawSociety;• the member is prohibited from acting or practising as a barrister orsolicitor and from holding himself out as a barrister or solicitor; and• the member shall pay to the Law Society, within twenty-four (24)months of the date of this order, costs in the amount of $5,000.00.(Counsel for Society, William Donegan/Counsel for member, J. DouglasCrane)David Buzaglo (1989, 41), of the City of Toronto, was found guilty ofprofessional misconduct for: failing to co-operate with a Law Society investigation by:a) failing to produce his books and records for the period June, 1999to December 31, 1999, and client files, despite repeated requestsfrom the Law Society; andb) failing to reply in a timely and responsive fashion to the LawSociety regarding complaints made by his clients despite attemptsby Law Society Investigators and Resolution and ComplianceOfficers to contact him by letter and telephone.Hearing panel ordered that: The member's rights and privileges are suspended for one month,commencing December 1, 2001 and thereafter indefinitely until thebooks and records of the member’s practice are fully completedand brought up to date to the satisfaction of the Secretary of theLaw Society.(Counsel for Society, Janice Duggan/Counsel for member, Trent Morris)11
Page 1 and 2: February, 2002In keeping with the L
Page 3 and 4: ix) on or about the 6th day of Octo
Page 5 and 6: the member shall notify the Secreta
Page 7 and 8: provided for consideration in the a
Page 9: • he participated in a transactio
Page 13 and 14: On July 24, 2000, before the Honour
Page 15 and 16: initiated a personal relationship w
Page 17 and 18: • pursuant to paragraph 8 of the
Page 19 and 20: (b)he failed to comply with underly
Page 21 and 22: (iii)In respect of the above transa
Page 23 and 24: with and disbursed his client's fun
Page 25 and 26: verbal requests for information in

Ontario Lawyers Gazette - The Law Society of Upper Canada

Create successful ePaper yourself

Delete template?

Save as template?