B
oston's SUCCESS Real Estate abruptly shut down operations this week, with broker-owner Steve Webster informing his agents via a weekend note that new business would no longer be accepted. The note, obtained by Boston 25 News, read: "I'm working hard every minute of every day to make things right."
A real estate attorney, Richard Vetstein, speculated in the article that the shutdown might be linked to embezzlement of escrow funds, which can include earnest money deposits or seller contributions for closing costs. This is a rare occurrence, according to Vetstein, who has practiced law for over 25 years.
No one has been accused of a crime at this point. The firm's offices in Marshfield and Braintree are now closed, with its website stating that it no longer operates or employs agents. Founded in 1990, SUCCESS Real Estate served Massachusetts and Rhode Island consumers before its sudden closure.
