The Herald Bulletin

Evening Update

Local News

June 21, 2013

Real estate broker filed for bankruptcy protection three times in 10 years

Criminal investigation ongoing, APD spokesman says

(Continued)

Later in 2005, Shoot and Bush reached a settlement agreement for several of the properties. However, because the bankruptcy settlement was later dismissed, it’s not clear whether any conditions of the agreement were met.

The attorney general’s office began investigating Shoot more than a year ago, after receiving a complaint from one of his rent-to-own buyers, Stacey Carnahan.

That complaint led investigators to focus on four properties Shoot managed or owned, and five consumers who entered into contracts with Shoot’s firm, P.R. Properties.

According to the filings, Shoot allegedly collected and then pocketed more than $9,200 from those buyers. The money was supposed to be earmarked to pay insurance premiums and property tax payments.

He allegedly used the money — which should have been held in special trust accounts — for personal expenses at pharmacies, restaurants, grocery stores and gas stations, according to the attorney general’s complaint.

In four real estate transactions specifically detailed in the lawsuit, Shoot was the deeded owner of the properties but failed to record his ownership interest to “conceal and misrepresent the true deeded owner of record” for the properties, according to the filings.

State authorities are seeking an injunction and restitution, court costs and civil penalties. McNamar said he has filed a motion to dismiss the case.

A hearing on the status of Shoot’s real estate broker license is set for July 24, according to Jeanette Langford, director of the Indiana Professional Licensing Agency.

An Anderson police spokesman declined to specifically comment on the case, saying only that the criminal investigation is ongoing.

Find Stu Hirsch on Facebook and @stuhirsch on Twitter, or call 640-4861.

What's Next The Indiana Real Estate Commission is scheduled to conduct a hearing on the status of Roger Shoot's real estate broker license on July 24, at 1 p.m. in Indianapolis. Source: Indiana Professional Licensing Agency

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