A Coquitlam real estate agent has been fined $50,000 and ordered to complete remedial education after repeatedly referring clients to an unregistered mortgage broker, according to a consent order published by the BC Financial Services Authority (BCFSA).
Afsaneh Zarshenas, who also goes by the name of Afsi Dashti, worked with RE/MAX Sabre Realty Group and was found to have committed professional misconduct and conduct unbecoming a licensee under the Real Estate Services Act.
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Between 2011 and 2018, she referred at least 14 buyer clients to Jay Kanth Chaudhary — a former submortgage broker whose registration was suspended in 2008 for submitting false information to lenders. Despite this, Chaudhary continued to operate unlawfully, using fraudulent documentation to obtain mortgage financing for clients.
The BCFSA consent order states that Zarshenas failed to verify Chaudhary’s registration status before recommending his services, and “knew or ought to have known” that he was not legally permitted to broker mortgages. The regulator found this conduct placed clients at risk and breached key duties of honesty, reasonable care, and acting in clients’ best interests.
As part of the disciplinary order, Zarshenas has been fined $50,000, ordered to pay $5,200 in enforcement expenses, and must complete a remedial real estate course through the Sauder School of Business within three months. Conditions placed on her license in 2020 — prohibiting referrals to Chaudhary or related parties — remain in effect. She has waived her right to appeal the decision.
Mortgage Fraud Scheme Leads to Multiple Disciplinary Actions
Zarshenas’ case is part of a larger, multi-year investigation by BCFSA into Chaudhary’s unregistered mortgage activities in British Columbia. Following an anonymous complaint in 2017, regulators uncovered that Chaudhary had been working with mortgage brokers and real estate agents to submit falsified documentation to lenders. In 2019, BCFSA issued him a cease-and-desist order.
The investigation resulted in disciplinary action against more than 20 individuals, including several real estate licensees and mortgage brokers. BCFSA continues to emphasize the responsibility of real estate professionals to perform due diligence and protect their clients’ interests.
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