AG: Seacoast real estate agent broke law after suspension … – Seacoastonline.com

CONCORD — The New Hampshire attorney general on Wednesday announced an expanding investigation into real estate agent and broker Daniel Twombly. He is also facing an investigation in Massachusetts.
Twombly, a Hampton resident, is accused of failing to make approximately $250,000 in agent commission payments for transactions in recent months and misappropriating his firm’s escrow account after his suspension.
New Hampshire Attorney General John Formella said Wednesday his office’s Consumer Protection and Antitrust Bureau, the Real Estate Commission, and the Office of Professional Licensure and Certification are all “actively investigating” the complaints against Twombly 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.
Previous story:Seacoast real estate agent suspended. RE/MAX closing Dover, Exeter, Hampton franchises.
Twombly has not responded to previous requests for comment.
RE/MAX On the Move had offices in Hampton, Dover and Exeter. RE/MAX Insight’s offices were in Manchester and Salem, as well as in Dracut, Methuen, and Tewksbury, Massachusetts.
Marshall Hook, a spokesperson for the Massachusetts Office of Consumer Affairs and Business Regulation, said Wednesday the agency has “an open matter pending for Mr. Twombly,” adding we are “unable to comment further.” He said Twombly’s license is no longer active in Massachusetts.
New Hampshire petitioned for a receiver to take over, operate, or close the real estate businesses “after it was found, upon inspection of its books and records, to be operating in violation of the provisions of the law,” according to Formella.
Twombly’s principal broker license had been suspended by the state Real Estate Commission on March 11 “after receiving complaints that he had misappropriated funds held in an escrow account,” according to Formella. The commission also sought the immediate establishment of a receivership and the appointment of a receiver over Coast to Country.
New Hampshire investigators found Coast to Coast failed to pay more than $250,000 in commissions between Oct. 1, 2022 and Feb. 28. In addition, Twombly “had exclusive access to the escrow account and authorized transactions after the time of his suspension, and prevented the Real Estate Commission from auditing the escrow accounts of Coast to Country,” all in violation of state laws, according to Formella.
The Merrimack County Superior Court on Tuesday appointed a receiver, Jason Mills of principal of BCM Advisory Group LLC, to operate Coast to Country “to preserve the assets and minimize the financial hardship to employees and consumers,” according to Formella.
Members of the public who are affected can reach Mills at (207) 807-9516 or jmills@bcmadvisorygroup.com, according to Formella. BCM Advisory Group is located at 22 Monument Square, Suite 401 in Portland, Maine.
The commission and court orders are preliminary orders and subject to further hearings.
New Hampshire Consumer Protection and Antitrust Bureau investigators can be reached at 1-888-468-4454 or DOJ-CPB@doj.nh.gov. Investigators with the Real Estate Commission and the Office of Professional Licensure and Certification can be reached at (603) 271-6985.
Reporting by Ian Lenahan is included in this story.

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