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A couple who wish to remain anonymous due to their professions in the oil and medical fields claim they were victims of a scam by former Calgary Realtor Eric Drinkwater. They are facing obstacles with the Real Estate Council of Alberta as they seek justice for their losses amounting to $87,000 in a 2022 investment with Drinkwater.
Calgary police charged Drinkwater with fraud over $5,000 on May 8, revealing that he solicited loans disguised as real estate opportunities, resulting in losses exceeding $1.9 million for at least 16 victims.
A history with Drinkwater
The couple first met Drinkwater in 2019 when they hired him as their Realtor to buy their house, and later enlisted his services to sell the same property in January 2022. They trusted Drinkwater’s investment offer in bridge loans for his real estate clients due to his reputation as a Realtor with Re/Max Central.
As the investments grew, Drinkwater failed to fulfill his promises, citing various excuses, leading to suspicions from the couple. They eventually obtained a consent judgment against Drinkwater through their personal lawyer after investing $236,000 with him.
Challenges with RECA
Despite the criminal charges and investigations, the couple faces difficulties with RECA in seeking justice. They provided documentation to RECA but have received minimal response, being informed that their consent judgment is insufficient evidence for retribution.
The couple is part of a group of victims aiming to apply for restitution through the Real Estate Assurance Fund, with the prerequisite being a judgment of fraud against Drinkwater in civil or criminal court.
Seeking justice
A virtual hearing is scheduled for a panel to review allegations against Drinkwater’s conduct, as the couple and other victims await justice following their losses and struggles with authorities.
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