State revokes agent's license, citing fraud
By John Rebchook, Rocky Mountain News (Contact)
Published February 29, 2008 at 12:05 a.m.
The Colorado Division of Real Estate on Thursday said it permanently revoked the license of Greeley real estate agent Tracy T. Todd and issued a 90-day suspension against Greeley agent Steve G. Boye for alleged mortgage fraud schemes in Greeley.
The division contends that Todd offered to purchase a home in Greeley at $425,000 which has been on the market for nine months for $300,000. In exchange for the higher price, Todd executed a separate agreement requiring the seller to pay $135,000 in a "consulting fee" to his company, Medicine Creek Consulting. The buyer of the home was Grace Todd, a relative. In another home, listed by Boyer, Todd executed a contract to buy a Greeley home that included a $72,250 consulting fee to Medicine Creek. The buyer was Todd's mother-in-law.
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