Former Maine auctioneer fined

GARDINER, Maine (AP) – A former Maine auctioneer is facing additional disciplinary action.

The Department of Professional and Financial Regulation said Tuesday that James Cyr of Gray, whose license was revoked in 2008, has been fined $30,000 for operating without a license and failing to give back money within a reasonable time.

The department also voted to revoke the license of Thomas Madsen of Windham and fined him $37,700 for auctioning goods without a contract; aiding or abetting the unlicensed practice of Cyr; and other charges.

Officials said Madsen had testified that he loaned Cyr his license so he could continue to operate.

The board voted to claim bonds owned by the two men to repay auction consigners, including one owed more than $20,000.

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AP-ES-11-24-09 1536EST