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Orea/MAI Surrendered License

  • Thread starter Deleted member 134708
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hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
Richard Ribacchi of Ribacchi & Associates, Inc, a prominent AG/MAI around here in northern CA had to surrender license. on 07/21/17.

@Denis DeSaix Did you know him? He's been around forever and my old boss used to refer work to him.

Wonder if the LLC will go on?

http://www.orea.ca.gov/html/EnforcementActions.asp

Ouch- Mortgage Fraud! That is as bad as you can get (except maybe for some heinous crime at the inspection).

No, I don't believe I do know him (name sounds vaguely familiar). If he is active in the AI, it would be likely be in another chapter than me.

A mistake you can feel sorry about (sometimes).
Fraud is not a mistake. Good riddance!
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
First time I have seen an AMC sanctioned by OREA, plus the Appraisers Forum is mentioned.

http://www.orea.ca.gov/acc/023309_Acc_20150209-02.pdf
Note that at the end of the PDF, they look to revoke his licence, and have him pay OREA $20k fine, but, nothing about paying the appraisers....otoh, orea may not have ability to levy on this guy.

It gets worse, end up is he loses his license, and pays some $14k investigation costs. No fines levied, no stipulation of payment to appraisers.
 
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Ken Masla

Junior Member
Joined
Jul 17, 2006
Professional Status
General Public
State
California
A list of things that I need to read.

I have to admit that some of these are entertaining.

I see a couple of shady people who I knew from the past and are not surprised to see them on the list.
 
D

Deleted member 134708

Guest
So, this is 4th hand and no clue if true.

I asked old boss who knew him only through the AI chapter. He said he is now consulting for a real estate firm or something along those lines.

In appraising, crime pays better than the fine. Until that scale shifts, it will become more and more prominant as the appraiser poplilation ages.

At 20 years old, not gonna risk license. At 60? Who cares. (Not me, but to illustrate a point)

A factual point at that.
 

reviewbe

Sophomore Member
Joined
Oct 4, 2016
Professional Status
Certified General Appraiser
State
California
Looks like he got hooked up with Valbridge.

Best indicator of a respectable firm starting to put out poor work quality? Hooking up with any of the nationals/franchises.
 

Slappy

Sophomore Member
Joined
Mar 2, 2010
Professional Status
Certified Residential Appraiser
State
California
It was a land appraisal assignment as well. Lots of shady things can go along with developers and land transactions. I noticed that a lot of the disciplinary actions involve private deals / land appraisals. As I have got older and closer (hopefully) to retirement, i have become pretty picky. I do not do land appraisals anymore. Too much risk exposure.
 

reviewbe

Sophomore Member
Joined
Oct 4, 2016
Professional Status
Certified General Appraiser
State
California
Another party in this saga, Jeffrey Hand #39606, is out of the business as well;

http://www.orea.ca.gov/html/EnforcementActions.asp

What we get in these cases is the public summary, the details are not disclosed unless the discipline gets to court. These guys chose to give up rather than let the details go public.
 
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