NEW YORK CITY-New York state officials are inquiring whether Newburgh, NY-based attorney John Cobb and one of his customers, Carolyn Li, were involved in unlawful real estate sales patterns at the Rushmore. The investigation was opened this month by the Department of State in reply to a Wall Street Journal article published in November.
Officials are inquiring whether the lawyer divided sales commissions with his client. According to the law, a licensed attorney can collect commissions but cannot split them with an unlicensed broker. For the full story, go to Wall Street Journal.
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