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Does An Agent Have A Fiduciary Duty To A Principal Precluding Secret Dealings With Another Principal?

real estate case law, agent fiduciary obligation to the principal --

An agent for principal A anticipates leaving the relationship, to work with principal B for a higher commission arrangement under principal B's recruitment activity; without principal A's knowledge, agent enters into a secret business transaction on behalf of Principal B and has a listing cultivated under principal A, listed and contracted by the principal B and then switched by principal B to agent's name after agent leaves principal A and joins principal B's firm. Does the agent's action represent an ethical breach or fraud or both? Does principal B's encouragement or knowing acceptance of unethical behavior by agent constitute a breach of ethics or fraud or both?

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