Complaint Investigation Report

Per Record of Client’s Safeguarded Cash Resources for C3 on 12/20/23 C3 had a balance of $2,368.63. During the course of the interviews, AD stated that she lets the clients borrow money and then gets reimbursed from the clients’ P&I Funds. During the course of the interviews with clients C1 reported that the owner lets him borrow money. Per AD C1, C2 and C3 share a Client Trust Account. Documents reviewed included the California Bank Trust statement dated 01/19/24-02/20/24 for C3. Per bank statement the ending balance for C3 on 02/02/24 was $2,747.82. Per Record of Client’s Safeguarded Cash Resources for C3 on 02/02/24 C3 had a balance of $1,732.94.

Based on the interviews which were conducted and the records that were reviewed, the preponderance of evidence standard has been met, therefore the following allegation: Licensee is commingling personal funds with clients’ Personal and Incidental (P&I) Funds is deemed SUBSTANTIATED. California Code of Regulations, Title 22, Division 6, Chapter 8 is being cited on the attached LIC 9099D.

An exit interview was conducted with AD Festin and a copy of this report along with the Appeal Rights were provided at the time of this visit.