The state’s appeals court has ruled against Coldwell Banker in a case involving a dispute over the brokerage’s role as escrow agent, fining the firm hundreds of thousands of dollars.

In 2004, the brokerage acted as agent for both buyer and seller in the sale for $1.8 million property in Wayland. The potential buyer, Plain Road Co., put a 5 percent deposit into escrow with Coldwell as a step in its purchase of the property, but was unable to obtain financing fell through and the deal fell through. The seller, Ashby Moncure, later sold the property to another party.

Meanwhile, Coldwell had continued its relationship with Plain Road. The company accepted an assignment of rights to the funds Plain Road had put into escrow for the purchase of the Wayland property as payment for a debt that Plain Road owed Coldwell. Coldwell tried to claim the funds, and sued when Moncure wouldn’t permit the real estate giant to take them.

The state’s appeals court came down heavily on Moncure’s side, concurring with the trial court that the brokerage’s actions were a breach of its fiduciary duty as an escrow agent as well as "unethical and unscrupulous," and awarding Moncure treble damages as well as court costs for both the trial and the appeal, a tab that could exceed $300,000.

In September, the appeals court had ruled against Coldwell in another case involving the brokerage’s role as escrow agent. In that instance, during a dispute about commission splits on the sale of a $1.2 million condo, the brokerage failed to pay the buyer’s agent share to the broker for buyer Jonathan Zang, despite clear instructions in the escrow agreement that it was to do so.

A spokeswoman for Coldwell Banker said the firm had no comment on whether it planned to appeal the Moncure case to the Supreme Judicial Court.