CONCORD, NH – Attorney General John M. Formella announces the Attorney General’s Office Consumer Protection and Antitrust Bureau, the Real Estate Commission, and the Office of Professional Licensure and Certification are actively investigating complaints against Mr. Daniel Twombly, of Hampton, New Hampshire, as well as his real estate businesses: NE Coast to Country Realty Investments (Coast to Country), LLC, RE/MAX Insight, and RE/MAX On the Move.
On March 11, 2023, the Real Estate Commission issued an emergency order suspending Mr. Twombly’s Principal Broker license after receiving complaints that he had misappropriated funds held in an escrow account. The Commission also sought the immediate establishment of a receivership and the appointment of a receiver over Coast to Country.
Under RSA 331-A:35, V, the State petitioned for the receiver to take over, operate, or close the real estate business after it was found, upon inspection of its books and records, to be operating in violation of the provisions of the law.
The State asserted that the company’s books and records reviewed so far illustrate violations of RSA 331-A. State investigators found that between October 1, 2022, and February 28, 2023, Coast to Country failed to pay more than $250,000 in commissions for completed real estate transactions. In addition, Mr. Twombly had exclusive access to the escrow account, authorized transactions after the time of his suspension in violation of RSA 331-A, and prevented the Real Estate Commission from auditing the escrow accounts of Coast to Country in violation of RSA 331-A:26.
In response, on Tuesday the Merrimack County Superior Court, in docket # 217-2023-cv-00157, appointed a receiver, Jason Mills, a principal of BCM Advisory Group, LLC, experienced in forensic accounting and in serving as a court-appointed receiver, to take over and operate Coast to Country to preserve the assets from waste and otherwise to minimize the financial hardship to employees and consumers.
The order appointing Mr. Mills prohibits people from taking any action concerning the receivership assets or interfering with the actions of the receiver including filing lawsuits without prior permission from the receivership court.
Affected members of the public can contact Mr. Mills at:
Jason J. Mills, MBA, CFE
BCM Advisory Group
22 Monument Square, Suite 401
Portland, Maine 04101
(207) 807-9516 / jmills@bcmadvisorygroup.com
The Commission and Court orders are preliminary orders and subject to further hearings.
The Attorney General’s Office Consumer Protection and Antitrust Bureau investigators can be reached at 1-888-468-4454 / DOJ-CPB@doj.nh.gov, while investigators with the Real Estate Commission and the Office of Professional Licensure and Certification can be reached at (603) 271-6985.
