Police execute warrant at Exit Realty on the Rock office

No charges laid in relation to claims against real estate operation

Published on February 17, 2016
An Exit Realty sign on Torbay Road in St. John's— Photo by Rhonda Hayward/The Telegram

Police with the Royal Newfoundland Constabulary went into the main office of Exit Realty on the Rock Tuesday, as part of an investigation tied to the operation of the real estate business.

According to the information used to obtain the warrant, filed at provincial court in St. John’s, police are looking into a claim of theft, fraud and breach of trust by Exit Realty on the Rock owner Anne Squires, within the period Jan. 1, 2013 to Dec. 31, 2015.

The RNC was specifically searching the Kenmount Road office for: documents pertaining to a trust account with the Bank of Montreal, allegedly fraudulent purchase and sales agreements, computer equipment, laptops, memory sticks and other electronic equipment.

Police first confirmed an investigation relating to the company was underway on Feb. 5.

No charges have been laid.

The warrant information connects the case to Service NL’s suspension of Exit Realty on the Rock’s real estate licence on Feb. 4. The provincial Office of the Superintendent of Real Estate is still into its own investigation involving the business.

Other real estate operations under the Exit Realty brand are not involved in the current investigations.

Realtors are licenced through their employers, but the majority of realtors once working with Exit Realty on the Rock have since been able to find positions with other brokerages and regain their licences.