INDIANAPOLIS (Legal Newsline) - Indiana Attorney General Greg Zoeller announced a lawsuit Friday against a real estate principal broker who allegedly ran a rent-to-own scheme and pocketed escrow money from his clients.
Roger Shoot, the owner of the Anderson-based P.R. Properties, which also does business as Anderson Homes, allegedly sold properties using rent-to-own agreements and collected and pocketed more than $8,750 worth of property insurance and tax payments from his buyers. Shoot allegedly offered to sell properties to prospective buyers without disclosing he was the deeded owner of most of the homes.
Shoot required buyers to submit payments for property insurance and taxes as part of a monthly payment plan, but allegedly used the account to pay for personal expenses like prescriptions, gas and food. Shoot allegedly promised and failed to setup an escrow account for the property buyers and delinquent property insurance payments and caused at least two of the properties to be sold via tax sale without the buyers' knowledge.
Shoot allegedly misled the county and court officials by having a former employee buy the properties at tax sales so Shoot could redeem them. Buyers would then move into a home without knowing back taxes were owed on the property.
The lawsuit seeks civil penalties, restitution, attorney costs and an injunction.
The Indiana Real Estate Commission will also consider a licensing complaint against Shoot and determine if disciplinary action should be taken.
There has been no date set for the hearing.