Good!
The Arizona Department of Real Estate has ordered the founder of property-management company Gorenter.com to stop doing real-estate business in the state.
The cease-and-desist order released Thursday alleges Mark Bosworth engaged in a real-estate business without being licensed to do so. The state agency cites a January $17.4 million civil judgment against Bosworth and his wife, Lisa, filed in Maricopa County Superior Court. The judgment, on behalf of TEM Holdings, found that Bosworth and his company, Property Masters of America violated sales agreements, submitted fraudulent invoices on rental properties and stole appliances and deposits from rental properties. Included in the $17 million judgment, were punitive damages of more than $12 million.
The Department of Real Estate has 19 open investigations into Gorenter.com, which is licensed with the department.
“This action is specifically against Mark Bosworth,” said Sam Wercinski, commissioner of the Real Estate Department. “He can no longer do any form of real-estate work in Arizona.”
One of Mark Bosworth’s companies wrote the most exploitative lease-purchase agreement I’ve ever seen.