PHOTO: SUPPLIED – Preet Grewal’s licence has been suspended.
An auditor has been fined for failure to report the unexplained withdrawal of $1 million from a real estate agency trust account.
Concerns were raised about Preet & Co Real Estate, which operated 10 Harcourts offices across Auckland, last year. The company, and its associated rentals business, was liquidated in April after being placed in voluntary administration five months earlier.
Its sole director and shareholder is Gurpreet Grewal, known as Preet. He was a licensed real estate agent but has since had his licence suspended.
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