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A dozen realtors have filed suit against a Marshfield man who abruptly closed his real estate company last month and allegedly withheld nearly $500,000 in commissions and loan repayments from them, according to legal filings.
Bạn đang xem: Success Real Estate closes, head of firm sued by realtors
The lawsuits were filed Dec. 30 in Plymouth Superior Court against Stephen D. Webster, 62, and his now-defunct company, Success Real Estate, which he closed Dec. 14, announcing the move to his staff by email.
“It is with deep regret I have to announce the closure of SUCCESS!” Webster wrote, according to court documents. “At this moment we will no longer be accepting any new business. Understandably this is upsetting news to all. I’m working hard every minute of every day to make things right. Upon the advice of my attorney I can’t say much more at this time.”
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Webster’s attorney wasn’t identified in legal filings, and Webster didn’t immediately respond to a request for comment. His company had locations in Marshfield and Braintree, according to court filings.
One plaintiff, realtor Kristen Dailey, of Hanover, is owed close to $153,000 in commissions for properties she sold, while the remaining plaintiffs are owed a combined $337,556 in commissions and loans they provided Webster, according to the civil complaints.
Webster and his company “committed unfair and deceptive business practices by accepting sale proceed funds and failing to pay commissions that they had agreed to, failing to honor commission checks that were sent to the Plaintiff[s] for transactions and sales that had already closed, and, based on information and belief, by taking, embezzling and/or absconding the funds from sales of real estate property transactions” that had already closed,” the lawsuits allege.
Some plaintiffs also allege that Webster and his company induced them to make personal loans based on false pretenses.
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The plaintiffs allege that Webster sought personal loans “in order to replenish and/or replace funds that had been stolen and/or embezzled” by him, records show.
One plaintiff wrote to a client on Dec. 17 that Webster had closed his company, saying “I believe he is gonna end up in jail and I have been told there is no money,” records show. “I am sure it will be on the news.”
Webster’s attorney hadn’t formally responded to either suit in court as of early Thursday afternoon. The lawsuits were previously reported by The Patriot Ledger.
This story will be updated when more information is released.
Travis Andersen can be reached at [email protected].
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