Anne Squires fraud proceedings delayed while plea bargain talks wrap up
Former owner of Exit Realty on the Rock was charged in 2016
Three years after the collapse of Exit Realty on the Rock, its former owner is close to a plea bargain over her alleged role in bilking cash from the high-profile company before it fell into financial ruin.
The trial of Anne Squires was scheduled to begin Tuesday morning at Newfoundland and Labrador Supreme Court.
But the case was instead set over until April 24, for lawyers to conclude discussions.
"We need more time to focus in on a couple of points," defence lawyer Randy Piercey told the court.
Justice Robert Stack stressed that "my expectation is there will be an agreement," and said something "extraordinary" would have to happen for that not to be the case.
The judge noted both sides have been working at this since August.
Squires was not in court Tuesday
Squires — who was not in court Tuesday morning, with the consent of Crown lawyer Arnold Hussey — is facing charges of theft, fraud, forgery and breach of trust.
She is accused of stealing from Exit Realty on the Rock, specifically money that was supposed to be set aside in a trust account.
Squires is also charged with defrauding another firm, AccessEasyFunds, a payday-loan style company that advances money to real estate agents for house sales before the deals close.
She is alleged to have used forged and fake sales agreements in her dealings with AccessEasyFunds.
The matter was originally set to be heard by a jury, but a few months back Squires re-elected to have a trial by judge alone.
In February 2016, the provincial government announced the sudden suspension of Exit Realty on the Rock's real estate licence.
At the time, there were more than 60 real estate agents working under the Exit Realty on the Rock banner.
Squires was the award-winning public face of the company. A few years earlier, she had been named a top 50 CEO in Atlantic Canada.
Almost immediately after the licence suspension, Exit Realty on the Rock went into receivership, and later bankruptcy.
Within weeks, the police had launched an investigation targeting Squires, with a search warrant for Exit Realty on the Rock's offices on Kenmount Road in St. John's.
Nine months later, in November 2016, the Royal Newfoundland Constabulary charged her with fraud-related crimes.
Squires pleaded not guilty.
Her trial had been scheduled to last six to eight weeks.
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