A report from the Virginia Genuine Estate Board demonstrates that the person has a background of funneling funds abroad.
NORFOLK, Va. — The Virginia Real Estate Board revoked Alex Nova’s authentic estate license in May well. Considering that then, property owners and realtors who worked with him say he disappeared with hundreds of hundreds of dollars of their cash.
According to a Virginia Actual Estate Board investigation, on September 9, 2020, Virginia’s Division of Professional and Occupational Regulation acquired a written grievance from a former salesperson for Remax Central Realty, the residence management business owned by Nova.
The complaint alleged that Central Realty’s rental proceeds from the thirty day period of August 2020 had been deposited in assets owners’ bank accounts, but that they ended up later reversed and taken out of the accounts.
It also explained that Central Realty mentioned the lead to of the reversal was that its lender accounts experienced been compromised.
Soon afterward, related issues were being also filed from one particular other previous salesperson and several home owner clientele, the report explained.
The investigation that adopted found that “Central Realty residence operator consumers ended up paid month to month owner’s proceeds,” on August 11, 2020. But, the report reported, individuals payments were reversed close to August 20, 2020.
Just after the resources have been taken out of their accounts, purchasers reached out to Nova for an clarification. The report stated that is when Nova’s business responded with several conflicting explanations. A single of the causes given for the reversal was that the company’s financial institution account experienced been compromised according to the report.
“The circumstance was owing to fraud, not an accounting mistake or money concern: issues with the bank account experienced been fixed,” the report stated.
On March 31, 2021, at the VREB’s ask for, Nova despatched investigators a checklist of properties that his firm was handling alongside with leases and house management agreements, in accordance to the report.
Right after reviewing people paperwork, the report stated investigators decided that Remax Central Realty’s escrow legal responsibility (amount of money of dollars they want to have prepared in their account to be paid back again to purchasers for issues like safety deposits) was more than $379,000.
The report explained that as of May well 10, 2021, there was $8,059.47 in Remax Central’s PM Escrow Account 3614, leaving an approximate escrow lack (or lack of cash they really should be all set to pay out again to consumers) of in excess of $371,000.
The future day in an interview with investigators, Nova stated that the concerns with the payment reversal came from complications with their software package provider, financial institution accounts, and a 3rd-party payment processor, the report said.
Nova also mentioned that PM Escrow Account 3614 held residence management security deposits for the agency, and that only he and his office environment supervisor experienced accessibility to the account, according to the report.
When investigators informed Nova that there have been insufficient funds in the account to protect his firm’s escrow liability, the report claimed he told them about a new account that he had established up through a lawyer.
The report stated Nova advised investigators that the new account was with East West Credit score Union in Toronto, Canada, and that he did not have the account amount and experienced been locked out of the account for a week.
In accordance to the report, the EWCU account was funded with money from Remax Central’s Towne Financial institution accounts. The report explained the cash went from their escrow account to their operating account and then straight into the EWCU escrow account.
Nova claimed there was $489,000 in the account at the time. He also explained he set up an functioning account with EWCU made up of $141,000 at the time the other EWCU account was set up, in accordance to the report.
Nova advised investigators that he utilised “eastwestcu.com” to accessibility his firm’s EWCU account, the report mentioned. That site is not an energetic world-wide-web deal with.
When investigators appeared at Central Realty’s bank account statements from May well 15, 2020, to August 17, 2020 (just just before the payment reversals), the report explained they discovered that above $800,000 experienced been transferred amid Central Realty’s escrow, commissions, and running accounts into their running account $300,000 of which arrived from their escrow account, the report confirmed.
During that very same time period of time, more than $789,000 was transferred from the company’s operating account to 3 overseas organizations in China, the report reported.
“Nova’s actions of getting and transferring at the very least $354,000 in stability deposit escrow funds into the company running account, which resulted in these kinds of cash staying electronically transferred to abroad organizations, constitutes poor, fraudulent or dishonest conduct,” the report mentioned.
Nova has compensated back some of the dollars in question since the investigation, in accordance to the report. But, the report clarified that at the very least some of the safety deposits returned had been similar to property administration scenarios not initially incorporated when Nova sent in documents to investigators for critique.
The report also observed that Nova unsuccessful to account for several properties’ stability deposits that came into Central Realty’s possession and belonged to other folks.
The only recognised penalties presently confronted by Nova are fines, but Virginia on the web court docket files clearly show that several civil lawsuits pursuing money owed have been filed from Nova in the Virginia Seaside General District Court considering the fact that June 1.
The report confirmed four fines, totaling $5,100, for violating 4 diverse policies. The report clarifies that the guidelines Nova violated deal with fraudulent steps, mismanagement of escrow funds, and parameters for brokers supplying details to the VREB.
The Norfolk FBI would neither validate nor deny no matter if there is an active situation involving Nova.
In an job interview with 13News Now, Courtney Zawisa claimed she applied to perform with Nova, and that due to the fact obtaining his license revoked in May well, he has disappeared with hundreds of thousands of bucks truly worth of security deposits. Some of that income is owed to 34 of her tenants, she said.
Zawisa also said Nova owes her $38,000 in commission.
Latanya Morgan life in New Jersey, but she defined in an e mail to 13News Now that her family members owns a household in Portsmouth. She explained that Remax Central Realty has been controlling the house, which at the moment has tenants in it.
Morgan said that she has not received lease payments from Central Realty for the months of Might and June 2022.
Apparently, Morgan is not by yourself. The company’s Fb web site experienced mostly fantastic evaluations, but a person submit with about 66 feedback is whole of disgruntled customers who generate that they are enduring the same issue as Morgan and are not able to get in touch with Nova.
The common article was posted by Markeith Scott Sr. who lives in Florida but had a assets in Chesapeake managed by Nova.
In an job interview with 13Information Now, Scott claimed that points started off off alright with Nova, but immediately after a 12 months or two of doing work jointly, it became tricky to get in touch with Nova.
Scott, an E-6 Functions Specialist for the Navy, mentioned that he was so busy that he failed to have time to fire Nova and employ a person else. Scott would e-mail Nova, but he mentioned he hardly ever acquired responses.
Scott claimed that lousy interaction was accompanied by late payments for a pair of years until eventually lease payments stopped becoming forwarded to Scott completely in 2020.
From March 2020 right until July 2021, Scott said he did not acquire any standard lease payments from Nova even even though there was a lease signed for that time period at his house.
Scott said he at last received some revenue in the form of a protection deposit to get his home set up immediately after he stated Nova told him that it experienced been inspected and was vacant in June 2021.
Scott was considering of providing his home and had a realtor go by to search at it later on that month. The real estate agent permit Scott know that there was definitely someone continue to dwelling there, and Scott had to have the law enforcement kick the person out.
Now, Scott stated Nova owes him above $25,000 well worth of lease payments and for problems finished to his property though managed by Remax Central Realty.
Nova could not be arrived at for remark right before the publication of this posting.