Sohail Iqbal - Lifetime Withdrawal from Industry

Calgary, Alberta – On November 5, 2008, Sohail Iqbal, former associate most recently registered with Impact Real Estate Group Ltd. o/a Residential One Real Estate in Calgary, applied to the Real Estate Council of Alberta (RECA) to withdraw from industry membership in accordance with section 54 of the Real Estate Act. At the time of his withdrawal application, a RECA investigation was ongoing to determine whether Mr. Iqbal was participating in the creation of false and misleading documents for the purpose of obtaining fraudulent mortgages including creating false T-4 slips, pay stubs, bank statements and employment verification letters as well as whether he was using straw buyers in trades.

Mr. Iqbal’s application to withdraw was approved by RECA and results in a voluntary lifetime prohibition from industry membership. By virtue of operation of the Real Estate Act, conduct proceedings are discontinued. Mr. Iqbal’s withdrawal application does not constitute an admission of misconduct.

The Real Estate Council of Alberta (RECA) is an independent, non-government agency, responsible for regulating industry professionals in the real estate, mortgage broker, and real estate appraisal industries under Alberta’s Real Estate Act. RECA is mandated to protect consumers and to provide services that enhance and improve the industry and the business of industry members.