Vince Iannello – Scammed a Blind Man, Facing Lawsuit
Vince Iannello is a businessman who lost his realtor license after he tricked a blind man into selling his home.
In 2019, Harold Verge, a 73-year old blind man filed a $1.25 million lawsuit against Vince Iannello.
The lawsuit also named Royal LePage Your Community Realty brokerage as teh defendant.
Harold said Vince was negligent and sought $1.25 million in general and punitive damages.
The blind victim said the sale has caused him and his wife to lose their sleep over their future. He pointed out that the couple doesn’t have enough funds to buy another house.
After Vince Iannello ‘tricked’ the blind victim into selling his home, the couple began renting a smaller home. Their new residence is miles away from their previous neighborhood.
Harold told the media that Vince “needs to get his act together”.
In response, the realtor-turned-accountant said he denies any allegations of negligence or wrongdoing.
Why A Blind Man Filed a $1.25 Million Lawsuit Against Vince Iannello:
In April 2019, Harold and his wife had to move out of their house at 42 Connaught Ave. in Greenwood Avenue. They say Vince sold the house against their will.
The couple had been living there since 1995.
According to Harold, Vince offered to help the couple renew their mortgages. The day after the renewal of the mortgages, he told the blind man that he and his wife can’t legally own a house anymore.
According to the lawsuit, Vince wrongly told the Verges that law prohibited people over 65 years of age to own real estate. Hence, it was illegal for the couple to own the home.
It’s worth noting that Canada doesn’t have any laws prohibiting senior citizens from owning property in the country.
Vince Never Listed the House on the Multiple Listings Service
Apart from lying to the blind senior citizen, Vince Iannello never listed the house on the Multiple Listings Service aka MLS.
MLS allows realtors to attract more prospective buyers for their listings.
According to the lawsuit, Vince sold the home for ‘well under its market value’. It claims he failed to meet the standard of care you expect of professional realtors.
Vince Iannello sold the house for $675,000. It’s a 2 and a half storey semi-detached home.
Although it required substantial work, its appraisal was for $750,000 according to a Royal LePage email to the media.
Also, the email told the media that two similar properties on the street had recently sold for around $880,000.
Obviously, Vince sold the house for way less than its market value.
The lawsuit alleges that Vince told his fellow real estate agents about the availability of teh house. One of them found a buyer around nine days later.
However, Harold and his wife didn’t want to sell their home.
But Vince Iannello advised them to accept the offer to purchase and wrongfully told them it contained an option in their favor to abort the transaction if they so choose. It didn’t have any provision of such kind.
Where is Vince Iannello Now?
After getting exposed, Vince Iannello stopped working as a real estate agent.
He hasn’t registered with any real estate property brokerage.
Now, he has become a financial expert and claims to help people with accounting, financial planning, tax and other services. He runs Vince Iannello Professional Corporation.
It’s worth noting he wasn’t fired. He simply stopped working as a real estate agent.
Many people on social media shared their anger towards this story.
One person said Vince is a “greedy psychopath” who belongs behind bars. He highlighted that the fact Vince never posted the listing on MLS suggests he tried to hide the transaction.
You should choose your real estate agent with extreme caution. Vince isn’t the only realtor who received negative press because of his dubious actions.
Recently, Kyle Kerr of Zolo Realty switched companies after a woman shared online how he had drugged and sexually assaulted her.
Another example is Sepy Kopahi, a realtor facing legal action for forgery and fraud.
Hence, beware of Vince. Even though he is not a realtor anymore, his professional past doesn’t indicate he is a reliable professional.
Vince Iannello had to leave his real estate business when he faced a lawsuit for deceiving a blind man and his wife into selling their home. Now, he runs an accounting business.
- Scammed a senior couple
- Facing a $1.5 million lawsuit