Oe vORTHL Sy , 03 ri My "eg STATE OF FLORIDA 4o¢ ° 4 DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION Dif Be cr FLORIDA REAL ESTATE COMMISSION FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE, Petitioner, vs. FDBPR Case N° 2001531392 2002001947 FADEL F. ELBADRAMANY, 2002001154 2001532739 Respondent. / ADMINISTRATIVE COMPLAINT State of Florida, Department of Business and Professional Regulation, Division of Real Estate (“Petitioner”) files this Administrative Complaint against Fadel F. Elbadramany (“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, in particular Section 20.165 and Chapters 120, 455 and 475, of the Florida Statutes and the rules promulgated pursuant thereto. 2. Respondent is and was at all times material hereto a licensed Florida real estate broker, issued license numbers 3000807 and 3000808 in accordance with Chapter 475 of the Florida Statutes. 3. The last licenses issued were as a broker at AAA Realty of Florida Comm. Real Estate FDBPR v. Fadel F. Elbadramany Case No. 2001531392 Administrative Complaint Properties/Investments, Inc., 132 S. Atlantic Avenue, Daytona Beach, Florida 32118 and at AAA Realty of Florida Coastal Properties, Inc., 132 S. Atlantic Avenue, Daytona Beach, Flonda 32118. 4. Respondent used his corporation to purchase a motel. . Respondent began converting the motel to condominium units. oT 6. Respondent marketed the units. 7. Respondent facilitated a sales and purchase contract with Arthur Peloso, Sr. (Buyer 1) 8. Buyer | delivered a $10,000 deposit to Respondent. 9. The contract provided that deposits would be placed in escrow with Attorney Ronald N. Johnson. 10. Respondent did not place the deposit in escrow with Attorney Ronald N. Johnson. 11. Respondent orchestrated a fake closing of the transaction. 12. At the fake closing, Buyer paid Respondent $58,334.74. 13. There was no transfer of ownership of the property at the closing. COUNT I Based upon the foregoing, Respondent is guilty of fraud, misrepresentation, concealment, false promises, false pretenses, dishonest dealing by trick, scheme or device, culpable negligence, or breach of trust in any business transaction in violation of Section 475.25(1)(b), Florida Statutes. COUNT II Based upon the foregoing, Respondent is guilty of failure to account or deliver funds in FDBPR v. Fadel F. Elbadramany Case No. 2001531392 Administrative Complaint violation of Section 475.25(1)(d)1., Florida Statutes. FURTHER ESSENTIAL ALLEGATIONS OF MATERIAL FACT 14. Petitioner realleges and incorporates herein the allegations contained in Paragraphs One through Three. 15. Respondent facilitated a sales and purchase contract with Mr. and Mrs. Donald R. Pope (Buyer 2). 16. Buyer 2 delivered $25,000 to Respondent as a deposit. 17. The contract provided that deposits would be placed in escrow with Attorney Ronald N. Johnson. 18. Respondent did not place the deposit in escrow with Attorney Ronald N. Johnson. 19. Bank denied Buyer 2 financing. 20. Buyer 2 demanded the return of the deposit. 21. Respondent has failed to return the deposit to Buyer 2. COUNT It Based upon the foregoing, Respondent is guilty of fraud, misrepresentation, concealment, false promises, false pretenses, dishonest dealing by trick, scheme or device, culpable negligence, or breach of trust in any business transaction in violation of Section 475.25(1)(b), Florida Statutes. COUNT IV Based upon the foregoing, Respondent is guilty of failure to account or deliver funds in FDBPR v. Fadel F. Elbadramany Case No. 2001531392 Administrative Complaint violation of Section 475.25(1)(d)1., Florida Statutes. FURTHER ESSENTIAL ALLEGATIONS OF MATERIAL FACT 22, Petitioner realleges and incorporates herein the allegations contained in Paragraphs One through Three. 23. Respondent facilitated a sales and purchase contract with Consuelo Jarquin (Buyer 3). 24. Buyer 3 delivered $25,000 to Respondent as a deposit. 25. The contract provided that deposits would be placed in escrow with Attorney Ronald N. Johnson. 26. Respondent did not place the deposit in escrow with Attorney Ronald N. Johnson. 27. Bank denied Buyer 3 financing. 28. Buyer 3 demanded the return of the deposit. 29. Respondent has failed to return the deposit. COUNT V Based upon the foregoing, Respondent is guilty of fraud, misrepresentation, concealment, false promises, false pretenses, dishonest dealing by trick, scheme or device, culpable negligence, or breach of trust in any business transaction in violation of Section 475.25(1)(b), Florida Statutes. COUNT VI Based upon the foregoing, Respondent is guilty of failure to account or deliver funds in FDBPR v. Fadel F. Elbadramany Case No. 2001531392 Administrative Complaint violation of Section 475.25(1)(d)1., Florida Statutes. FURTHER ESSENTIAL ALLEGATIONS OF MATERIAL FACT 30. Petitioner realleges and incorporates herein the allegations contained in Paragraphs One through Three. 31. Respondent facilitated a sales and purchase contract with Patrick Graviss (Buyer 4). 32. Buyer 4 delivered $5,150 to Respondent as a deposit. 33. The contract provided that deposits would be placed in escrow with Attorney Ronald N. Johnson. 34. Respondent did not place the deposit in escrow with Attorney Ronald N. Johnson. 35. Bank denied Buyer 4 financing. 36. Buyer 4 demanded the return of the deposit. 37. Respondent has failed to return the deposit to Buyer 4. COUNT VI Based upon the foregoing, Respondent is guilty of fraud, misrepresentation, concealment, false promises, false pretenses, dishonest dealing by trick, scheme or device, culpable negligence, or breach of trust in any business transaction in violation of Section 475.25(1)(b), Florida Statutes. COUNT Vil Based upon the foregoing, Respondent is guilty of failure to account or deliver funds in violation of Section 475.25(1)(d)1., Florida Statutes. FDBPR v. Fadel F. Elbadramany Case No. 2001531392 Administrative Complaint FURTHER ESSENTIAL ALLEGATIONS OF MATERIAL FACT 38. Petitioner realleges and incorporates herein the allegations contained in Paragraphs One through Three. 39. Respondent facilitated a sales and purchase contract with Kostyantin Skylar (Buyer 5). 40. Buyer 5 delivered $13,000 to Respondent as a deposit. 41. The contract provided that deposits would be placed in escrow with Attorney Ronald N. Johnson. 42. Respondent did not place the deposit in escrow with Attomey Ronald N. Johnson. 43. Buyer 5 delivered a cancellation notice to Respondent within the time period allowed by the contract. 44. Buyer 5 demanded the return of the deposit. 45. Respondent has failed to return the deposit to Buyer 5. COUNT IX Based upon the foregoing, Respondent is guilty of fraud, misrepresentation, concealment, false promises, false pretenses, dishonest dealing by trick, scheme or device, culpable negligence, or breach of trust in any business transaction in violation of Section 475.25(1)(b), Florida Statutes. COUNT X Based upon the foregoing, Respondent is guilty of failure to account or deliver funds in FDBPR v. Fadel F. Elbadramany Case No. 2001531392 Administrative Complaint violation of Section 475.25(1)(d)1., Florida Statutes. WHEREFORE, Petitioner respectfully requests the Florida Real Estate Commission, or the Department of Business and Professional Regulation, as may be appropriate, to issue a Final 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 or registration or permit; suspension of the license, registration or permit for a period not to exceed ten (10) years, imposition of an administrative fine of up to $1,000 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 permitee to complete and pass additional real estate education courses; publication; or any combination of the foregoing which may apply. See Section 475.25(1), Florida Statutes (2001) and Florida Administrative Code Rule 61J2-24.001. 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 permit; suspension of the license, registration, or permit 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 permitee to complete and pass additional real estate education courses; publication; restriction of practice; injunctive or mandamus relief; imposition of a cease and desist order; or any combination of the FDBPR v. Fadel F. Elbadramany Case No. 2001531392 Administrative Complaint foregoing which may apply. See Section 455.227, Florida Statutes (2001) and Florida Administrative Code Rule 61J2-24.001. SIGNED this 20 dayof__slgy spp DIA , 2002. nt of Business and Professional Regulation By: Director, Division of Real Estate ATTORNEY FOR PETITIONER LORENZO LEVEL Florida Bar N° 0165123 Senior Attorney, Real Estate Department of Business and Professional Regulation, Legal Section - Suite N 308 Hurston Bldg. North Tower 400 West Robinson Street Orlando, Florida 32801-1772 (407) 481-5632 (407) 317-7260 FAX LL/ PCP: MV/HF 11/02 NOTICE TO RESPONDENTS PLEASE BE ADVISED that mediation under Section 120.573 of the Florida Statutes, is not available for administrative disputes involving this type of agency action. FDBPR v. Fadel F. Elbadramany Case No. 2001531392 Administrative Complaint PLEASE BE FURTHER ADVISED that pursuant to this Administrative Complaint you may request, within the time proscribed, a hearing to be conducted in this matter in accordance with Sections 120.569 and 120.57 of the Florida Statutes; that you have the right, at your option and expense, to be represented by counsel or other qualified representative in this matter; and that you have the right, at your option and expense, to take testimony, to call and cross-examine witnesses, and to have subpoena and subpoena duces tecum issued on your behalf if a formal hearing is requested. PLEASE BE FURTHER ADVISED that if you do not file an Election of Rights form or some other responsive pleading with the Petitioner within twenty-one (21) days of receipt of this Administrative Complaint, the Petitioner will file with the Florida Real Estate Commission a motion requesting an informal hearing and entry of an appropriate Final Order which may result in the suspension or revocation of your real estate license or registration. Please see the enclosed Explanation of Rights and Election of Rights form.

Docket for Case No: 03-002037PL