Maricopa Properties fined civil penalty of $12,000

A local real estate business forced to close its doors in April after an audit revealed a misuse of funds was ordered last month to pay a civil penalty of $12,000.

The order was given by the commissioner of the Arizona Department of Real Estate. The state agency can investigate possible violations of real estate law and can assess penalties against violators.

Dawn Anderson, owner of Maricopa Properties, LLC, did not appear at a Nov. 25 hearing in which real estate department counsel argued a civil penalty should be imposed against Anderson and the business.

The hearing was held before an administrative law judge at the Arizona Office of Administrative Hearings. Such a judge is not part of a court and makes recommendations to the regulating agency about case decisions. The commissioner ordered a civil penalty of $12,000 to be assessed, as recommended by the judge.

Under state law, the commissioner cannot impose a civil penalty of more than $1,000 for each infraction. The administrative law judged determined that Anderson and Maricopa Properties, LLC, had committed at least 12 violations of state law.

In November, Anderson’s real estate broker’s license was revoked. At the same time, the real estate entity license of Maricopa Properties also was revoked.

InMaricopa.com tried to reach Anderson through email and a Facebook message on Friday for comment. As of Monday afternoon, Anderson had not replied.

An onsite audit of Maricopa Properties was conducted by the department of real estate in March. The audit revealed a shortage of almost $280,000 in broker trust accounts, and showed that records maintained by the business were not properly filed, written or signed.

In April, the department issued a cease and desist order against the business.

According to the cease and desist order, the company “had outstanding trust liabilities of approximately $279,938.99.” The order alleged Anderson did not maintain monthly trust account bank reconciliations and client ledger balances, which is required by law.

The audit also showed Anderson’s husband, Chad Anderson, was authorized as a signer of the property management trust account, according to the order. It was found that Chad Anderson was not a licensed real estate broker or an employee of Maricopa Properties and, by law, would not be authorized as a signer.