Concord, NH – Attorney General John M. Formella announces a settlement agreement with Robert Wichland, 61, of Center Harbor, New Hampshire, and Bayside Rentals, LLC, of Meredith, New Hampshire, reflected in a “Consent Decree” approved Thursday, June 1, 2023, by the Belknap County Superior Court. The Consent Decree resolved allegations of unfair and deceptive acts or practices associated with improper withdrawals from Bayside Rentals’ escrow account.
The terms of the settlement require Wichland and Bayside Rentals to: A) implement stipulated, enhanced withdrawal procedures for escrow accounts beyond any statutory requirements; and B) retain an independent monitor monthly to review escrow account withdrawals who shall report directly to the Consumer Protection and Antitrust Bureau annually or immediately if the Decree is violated; and 3) pay the State $5,000.00 in civil penalties and reimburse the State $27,500.00 for the cost of the investigation.
The settlement resulted from an extensive investigation by the Consumer Protection and Antitrust Bureau that was initiated after a referral from the New Hampshire Real Estate Commission regarding improper withdrawals from escrow accounts.
This case was investigated by Investigator Frederick Lulka and prosecuted by Assistant Attorney General James Romeyn (“JR”) Davis, both of the Consumer Protection and Antitrust Bureau.
The Consumer Protection and Antitrust Bureau investigates and prosecutes fraudulent, unfair, and deceptive business practices involving New Hampshire consumers. To file a complaint with the New Hampshire Department of Justice, call the Consumer Protection Hotline at 1-888-468-4454 or file a complaint online at https://www.doj.nh.gov/consumer/complaints.
Original source can be found here.
