An REA spokesperson said the authority was considering whether the licence of any company officers connected with a company that had been placed into liquidation should be renewed.<\/p>\n
\u201cREA\u2019s enquiries with respect to the individuals connected with Hills Real Estate are ongoing. We are not able to make any further comments on this matter out of consideration for the parties involved.\u201d<\/p>\n
Meanwhile, Prakash could still operate as a salesperson and carry out real estate agency work for or on behalf of a licenced agent until the outcome of the renewal application had been determined.<\/p>\n
Prakash confirmed to OneRoof that his licence was still active, but he did not respond to further questions, specifically whether he had applied to renew it and why the expiry date had not been updated.<\/p>\n
Shavin Real Estate owner Shavin Lal said his company looked into Prakash\u2019s licence status after being approached by OneRoof and had received confirmation from the REA that Prakash\u2019s licence was still active.<\/p>\n
\u201cHe can still sell properties,\u201d Lal responded in a text message.<\/p>\n
A property listed with Shavin Real Estate which was previously listed on the Hills Real Estate site.<\/p>\n
As part of the annual process to renew a licence, the applicant must declare they are still a \u201cfit and proper\u201d person to hold a licence.<\/p>\n
The fit and proper guidelines listed on the REA website cover a range of factors, including whether the person\u2019s right of practice as a real estate licensee has been cancelled or suspended in New Zealand or another country, and whether they are of \u201cgood character\u201d.<\/p>\n
An applicant must also state whether they have any unsatisfied judgments in court, any adverse findings made against them by a court in civil proceedings, or any significant financial issues, such as bankruptcy.<\/p>\n
The REA\u2019s concerns relating to whether Prakash\u2019s licence should be renewed appear to centre around his involvement in a company that has been liquidated.<\/p>\n
Shavin Real Estate is the second agency Prakash has rebranded with in recent weeks. Shortly before Hills was liquidated, the Herald reported that 11 of the agency\u2019s staff were working for Wallace Real Estate and selling homes previously listed with Hills.<\/p>\n
A property listed with Shavin Real Estate which was previously listed on the Hills Real Estate site.<\/p>\n
However, the relationship was short-lived after Wallace Real Estate chief executive Luke Nutting learnt about the tax allegations.<\/p>\n
Nutting told the Herald he took the allegations \u201cextremely seriously\u201d and was \u201cdisappointed\u201d to only recently learn about the severity of the situation.<\/p>\n
\u201cStaff recently hired by our business who have been implicated in the IRD\u2019s ongoing investigation are no longer working at Wallace Real Estate,\u201d he said earlier this month.<\/p>\n
Within 10 days of parting ways with Wallace Real Estate, Prakash had landed a new role as a salesperson at Shavin Real Estate.<\/p>\n
Of the 22 properties currently listed for sale with Shavin Real Estate, six were previously listed with Prakash when he was at Hills and during his short stint at Wallace Real Estate.<\/p>\n
Rickhil Prakash, director of Hills Real Estate and previously named as one of New Zealand\u2019s biggest property traders.<\/p>\n
Lal confirmed that every salesperson was required to bring listings with them. <\/p>\n
\u201c[The] Office does its AML checks and lists the properties. That\u2019s the process.\u201d<\/p>\n
Prakash, who is marketing himself under the name Rick Prakash, has also been joined by fellow Hills Real Estate colleague Vashneel Prasad, who has also been linked to the tax investigation. <\/p>\n
Prakash, the sole director of Hills Real Estate, was once revealed as one of the country\u2019s biggest flippers. <\/p>\n