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Message: Top broker will not get his license back  Economy

Message: Top broker will not get his license back Economy

In several articles, Expressen talked about the former broker Emil Alcott, who in April was sentenced to six years in prison for aggravated treason of the director and several serious frauds.

He then defrauded friends, acquaintances and clients out of a total of approximately SEK 24 million.

Already in May last year, the Estate Brokers Inspectorate (FMI) revoked his broker's license with immediate effect. According to the authority, he acted “deliberately and systematically” for his own gain when he used money from the down payments to cover private and business expenses.

Appealed broker licensing decisions

Emile Alcott appealed the decision and blamed, among other things, the accounting consultants and the “human factor.” He believed that FMI made its decision based on “false premises,” including verbal information that he himself contradicted.

During the period when the Ecocrime Agency's investigation against Emil Alcut was ongoing, and the investigation led to prosecution, trial and sentencing, the broker's license case was before the Administrative Court.

Now the ruling has come, and the court is on the FMI line.

Administrative Court decision

The Administrative Court wrote in its decision that Emil Alcott “acted in several respects in violation of his obligations under the Estate Agents Act.” The court described the systematic deficiency in the handling of advance payments, writing that “his suitability can be seriously questioned and constitutes an action that seriously undermines confidence in him as an intermediary.”

The Administrative Court wrote that Emile Alcott had a “lack of knowledge” about his role and responsibility as mediator, and also noted that he was sentenced to prison. According to the court, it is “clear” that he should not have his broker's license restored.

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The District Court's prison sentence is still under appeal and will come before the Court of Appeal later in June.

The crimes for which Emile Alcott was convicted

■ Serious fraud using a forged document, to mislead the buyer of a villa in Täby into paying 200,000 kroner more than necessary – and then using the money himself.

■ The manager's blatant betrayal, for receiving SEK 12.7 million for the sale of a house of which the sellers have seen no sign since.

■ Serious fraud caused by a man being persuaded to bring more than SEK 1.75 million as a down payment for the sale of a fake apartment.

■ Serious fraud by forgery of documents in five cases, due to the forgery of homeowners’ signatures in purchase agreements, which in this way resulted in homebuyers transferring a total of SEK 9.3 million in advance payments for sales that did not exist.

■ A serious accounting violation due to lack of proper accounting management in one of his companies.

■ Emil Alcott has denied any wrongdoing.

Read more: The top brokers are suspected of defrauding properties worth $12.5 million
Read more: Top brokers are suspected of defrauding properties and friends of millions