Respondent(s): Peter Randall Kelderman FH: 3931
Violations: A.C.A. § 17-42-311(a)(2), (6), (13), 17-42-316(b)(1); Commission Rules 8.5(a), 10.7(b)(3), 10.8(b),
10.8(c), 10.8(g)(1), (2), (3), 10.9(b)
Sanctions: $9,000 in civil penalties with reduction equal to the payments made to the Complainants; Respondent
cannot hold a principal broker license and cannot conduct property management activities for third parties.
Synopsis: Respondent Property Manager Kelderman deposited a check which was not real estate related into the
firm’s trust account. Respondent Kelderman disbursed a portion of the funds from the check into other accounts.
The check was fraudulent and was recalled by the bank causing the trust account to have a negative balance.
Respondent Kelderman failed to ensure the Complainants received funds owed to them that had been held in the
firm’s trust accounts.
Recovery Fund Order: Respondent Kelderman was ordered to pay damages totaling $2,400 to Complainant 1 and
damages totaling $3,988.75 to Complainant 2.