Yarmouth real estate broker gets jail time
Daniel Coyne, a former commercial real estate broker in Yarmouth, was sentenced to 10 months in prison yesterday for bilking an investor out of $50,000.
Coyne pleaded guilty in Cumberland County Superior Court to one count of Class B theft by deception and was sentenced to four years in prison with all but 285 days suspended as well as one year of probation, according to a press release from the state's Department of Professional and Financial Regulation. Coyne, who lost his broker license in December 2008 for misusing client escrow funds, told an investor he was raising money to finance a real estate development that did not exist.
Coyne was also ordered to pay $50,000 in restitution to the investor and to complete drug and alcohol treatment.
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