4 Me f° STATE OF FLORIDA fe va) DEPARTMENT OF BUSINESS & PROFESSIONAL RecuLaTi Re ~2 2p FLORIDA REAL ESTATE APPRAISAL BOARD be HY; 38 FLORIDA DEPARTMENT OF BUSINESS & . i PROFESSIONAL REGULATION, ‘ DIVISION OF REAL ESTATE, Petitioner, f) pal 7 (03 fL v. CASE NO. 2000-82220 FREDERICK LOUIS PEDOTO, JR., Respondent. / ADMINISTRATIVE COMPLAINT The Florida Department of Business & Professional Regulation, Division of Real Estate ("Petitioner") files this Administrative Complaint against Frederick Louis Pedoto, Jr. (“Respondent”), and alleges: ESSENTIAL ALLEGATIONS OF MATERIAL FACT 1. Petitioner is a state government licensing and regulatory agency charged with the responsibility and duty to prosecute Administrative Complaints pursuant to the laws of the State of Florida, including Section 20.165 and Chapters 120, 455 and 475 of the Florida Statutes, and the rules promulgated thereunder. 2. Respondent is currently a Florida state-registered assistant real estate appraiser having been issued license RI0005056 in accordance with Chapter 475 Part II of the Florida Statutes. 3. The last license the State issued to Respondent was as a state-registered assistant real estate appraiser at 5509 Jefferson Street, Hollywood, Florida 33021. 4. On or about February 9, 2000, Respondent developed and communicated an appraisal FDBPR v. Frederick Louis Pedoto Jr. Case No. 200082220 Administrative Complaint report (appraisal) for property commonly known as 499 NW 53" Street. A copy of the appraisal is attached hereto and incorporated herein as Administrative, Complaint Exhibit 1. 5. Gregory Goldstein at MGM Financial hired Respondent to complete the appraisal and only discussed the appraisal with Respondent. 6. Respondent accepted payment for the compietion of the appraisal. A copy of the cancelled check is attached hereto and incorporated herein as Administrative Complaint Exhibit 2. 7. At the time the appraisal was developed and communicated, Respondent had recently been terminated by Kerygma Appraisal Services, Inc. and possessed the firm’s computer software. 8. Rafael Fuentes and Paul T. Summa deny developing the appraisal. 9. Upon information and belief, Respondent had the means and access to place the signatures of Summa and Fuentes on the appraisal. 10. The appraisal contained the following errors: a. Respondent reported on page one that the Subject’s view was residential/average, but he reported a golf course view on page two. b. Respondent reported on page one that Subject’s location was urban, but he reported suburban on page two. c. Respondent reported on page one that the Subject’s effective age was 2.4 years, but he reported five years on page two. d. Respondent reported that Comparable #1 previously sold in November FDBPR v. Frederick Louis Pedoto Jr. Case No. 200082220 Administrative Complaint 1999 for $360,000, yet MLS and public records had no record of such sale and reported that it sold in January 1998 for $300,000. Respondent reported the Comparable #1 had a golf course view, yet MLS reported a lake and golf course view. Respondent failed to report the site dimensions for Comparable #1. Respondent reported that Comparable #1 was two stories, yet MLS and Public Records reported that it is only one story. Respondent reported that he used MLS as his data and verification source for Comparable #2, yet it was not listed with the MLS. Respondent reported that Comparable #2 was two stories, yet public records reported it was only one story. Respondent reported that Comparable #2 previously sold in September 1999 for $375,000, yet public records has no record of such sale and reported that it last sold July 1998 for $275,000 (and in April 1999 for $100 quitclaim deed). Respondent reported that Comparable #3 is two stories, yet public records reported it as one story. Respondent reported that the effective ages for comparables #2 and #3 are significantly less than the actual ages, but failed to provide support for such opinion. Respondent reported that all three comparables had upgraded FDBPR v. Frederick Louis Pedoto Jr. Case No. 200082220 Administrative Complaint kitchen/interiors, but failed to provide support for such opinion. n. Respondent reported inconsistent adjustment figures to the comparables. COUNT I Based upon the foregoing, Respondent has violated a standard for the development or communication of a real estate appraisal or other provision of the Uniform Standards of Professional Appraisal Practice in violation of Section 475.624(14) of the Florida Statutes. COUNT IL Based upon the foregoing, Respondent is guilty of having failed'to exercise reasonable ° diligence in developing an appraisal report in violation of Section 475.624(15) of the Florida Statutes. COUNT II Based upon the foregoing, Respondent is guilty of fraud, misrepresentation, culpable negligence or breach of trust in a business transaction in violation of Section 475.624(2) of the Florida Statutes. COUNT IV Based upon the foregoing, Respondent is guilty of operating as a state-registered assistant real estate appraiser without a supervisory appraiser in violation of Rule 61J-7.007 of the Florida Administrative Code and, therefore, in violation of Section 475.624(4) of the Florida Statutes. WHEREFORE, Petitioner respectfully requests the Florida Real Estate Appraisal Board, or the Department of Business and Professional Regulation, as may be appropriate, to issue a Final 4 FDBPR v. Frederick Louis Pedoto Ir. Case No. 200082220 Administrative Complaint Order as final agency action finding the Respondent(s) guilty as charged. The penalties which may be imposed for violation(s) of Chapter 475 of the Florida Statutes, depending upon the severity of: the offense(s), include: revocation of the license, registration, or certificate; suspension of the license, registration or certificate for a period not to exceed ten (10) years; imposition of an administrative fine of up to $5,000 for each count or offense; imposition of investigative costs; issuance of a reprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant, or certificate holder to complete and pass additional appraisal education courses; publication, or any combination of the foregoing which may apply. See Section 475.624, Florida Statutes and Rule 61J1-8.002, Florida Administrative Code. The penalties which may be imposed for violation(s) of Chapter 455 of the Florida Statutes, depending upon the severity of the offense(s), include: revocation of the license, registration, or certificate; suspension of the license, registration, or certificate for a period not to exceed ten (10) years; imposition of an administrative fine of up to $5,000 for each count or offense; imposition of investigative costs; issuance of a reprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant, or certificate holder to complete and pass additional appraisal education courses; publication; restriction of practice; injunctive or mandamus relief; imposition of a cease and desist order; or any combination of the foregoing which may apply. See § 455.227, Fla. Stat. (1999) and Fla. Admin. Code R. 61J1-8.002. FDBPR v. Frederick Louis Pedoto Jr, Case No. 200082220 Administrative Complaint Haye SIGNED this 6” day of Llu & ta , 2001. Sion Fabruary 9.2009 . St Cert Res. REA + f Coateations St. Cort Res REA # 0001S wo F Tne een ene COMMENT ADDENDUM Fie ty. OOOCUs © 199 FW 53rc Raton . "MGM Fiancial HOHAL COMMENTS: ee antect isa large five bedroom, four bath home with atwe car garage anda large pat mat 7 ne subjeslisabuildersownpersonalresidence andhasexlensiveupradeswbieninclode cee a in etl arma blecountertops, securi ysystem,centraivacum, intercom, winecloset, upgeradedapplianee The 1282 Gelicourse view andissituatedonanoversized regular shapedlel.Sale¥landro onan cs AWA Medupwardsitesizeadjustmentsastheyaresituatedonsmallerlotsconn paredtothesubject'sover sized “a Cr eNTOp'S Gas Seal Reprvisal Software hy Bradiord Tachnoloatas (800) 622 8729 AOMINISTEA GT EXHIBIT | aoe a Pores EXHIBIT , _2 _. PAGE et OF MGM FINANCIAL HOLDINGS LLC . 409 W HALLANDALE BEACH BLY! Tee + SUITE 201 : : HALLANDALE FL 39009 PAY JO tne DACEA OF. TransCapita! Bank 2100 E, Metlanitele Bron Boulevard Jeb Bush Govemor Kim Binkley-Seyer Secretary Division of Real Estate 400 West Robinson Street . Suite N308 Orlando, Florida 32801-1772 VOICE 407.245.0800 FAX 407.317.7245 EMAIL ORE @dbpr.state.fl.us INTERNET www. myflorida,.com STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION O2DEC-2 PH I: 98 August 13, 2001 Frederick L. Pedoto, Jr. ; 5509 Jefferson Street 0 SD - dl 64 0 Cc Hollywood, Florida 33021 . RE: FDPBR v. Frederick L. Pedoto, Jr. FDBPR Case N° 2000-82220 Dear Mr. Pedoto: Please be advised that as an attorney employed by the Department of Business and Professional Regulation | have been advised to handle the prosecution of the enclosed Administrative Complaint that has been filed against you. The Administrative Complaint describes the alleged violations of the real estate license law with which you are charged. The Election of Rights form attached to the Administrative Complaint describes your rights and the two options available to you. If you wish to discuss a mutual settlement of this matter, please contact me by letter or telephone. Sincerely, Keb nver— Robyn M. Severs Senior Attorney Fla, Bar No. 0154504 Hurston North Tower 400 West Robinson Street Suite N-308 Orlando, Florida 32801 (407) 481-5632 (407) 317-7260 RMSi/jk encl.

Docket for Case No: 02-004602PL

Issue Date	Proceedings
Jan. 12, 2004	Letter to Judge Sartin from F. Pedoto enclosing letters to Ms. Rutecki and Ms. Pierce requesting files filed.
Apr. 03, 2003	Order Closing File issued. CASE CLOSED.
Mar. 27, 2003	CASE STATUS: Hearing Held; see case file for applicable time frames.
Mar. 25, 2003	Petitioner`s Notice of Filing Exhibits filed.
Mar. 21, 2003	Petitioner`s Amended Response to the Order of Pre-Hearing Instructions (filed via facsimile).
Mar. 21, 2003	Letter to Judge Sartin from S. Robinson- Pierce enclosing Petitioner`s exhibits one through fifteen filed.
Mar. 17, 2003	Petitioner`s Notice of Intent to Offer Evidence of Other Acts Offenses (filed via facsimile).
Mar. 17, 2003	Petitioner`s Response to the Order of Pre-Hearing Instructions (filed via facsimile).
Mar. 12, 2003	Order Granting Motion to Allow Witness to Appear and Testify at Hearing by Telephone issued.
Mar. 11, 2003	Motion to Allow Witness to Appear and Testify at Hearing by Telephone (filed by Petitioner via facsimile).
Feb. 03, 2003	Order Granting Continuance and Re-scheduling Hearing issued (hearing set for March 27, 2003; 9:30 a.m.; Fort Lauderdale, FL).
Jan. 30, 2003	Motion to Continue and Reschedule Hearing (filed by Petitioner via facsimile).
Jan. 30, 2003	Letter to H. Rutecki from S. Robinson-Pierce confirming the withdrawal of stipulation at this time (filed via facsimile).
Dec. 30, 2002	Order of Pre-hearing Instructions issued.
Dec. 30, 2002	Notice of Hearing issued (hearing set for February 6, 2003; 9:30 a.m.; Fort Lauderdale, FL).
Dec. 13, 2002	Petitioner`s Response to Initial Order (filed via facsimile).
Dec. 05, 2002	Letter to S. Robinson from H. Rutecki requesting this correspondence to confirm client is electing to go formal with regard to above style case (filed via facsimile).
Dec. 02, 2002	Administrative Complaint filed.
Dec. 02, 2002	Agency referral filed.
Dec. 02, 2002	Initial Order issued.