The Herald Bulletin

Morning Update

Local News

July 9, 2013

Real estate broker moves to have attorney general lawsuit dismissed

Court should reject that effort, attorneys for state say

(Continued)

ANDERSON, Ind. —

The attorney general also filed a separate complaint with the Indiana Real Estate Commission to revoke or suspend Shoot’s real estate principal broker’s license, and Madison County Prosecutor Rodney Cummings directed the Anderson Police Department to open a criminal investigation into Shoot’s business practices.

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.

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. The criminal investigation is ongoing.

Like Stu Hirsch on Facebook and follow him @stuhirsch on Twitter, or call 640-4861.

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