INDIANAPOLIS (Legal Newsline) - Indiana Attorney General Greg Zoeller announced a lawsuit Friday against a New York-based realty company that allegedly took $12,500 from Indiana residents.
CIG Realty Inc. and principals Keith Anthony and Anthony Podias offered to provide alternative home financing to individuals who couldn't obtain a traditional home loan, requiring a down payment before the company would make an offer on behalf of the buyer. The defendants allegedly failed to close on properties they offered to purchase for Indiana consumers, failed to return full refunds on deposits and failed to obtain a certificate of authority to do business in Indiana.
"Customers made upfront payments before realizing the company was going to place a low-ball offer on the property or in some cases not submit an offer to the seller at all," Zoeller said. "This company not only operated in Indiana illegally, but it failed to refund deposits and took advantage of customers' desires to own their own home."
Three Indiana consumers paid the company upfront payments of between $3,000 to $5,000. Only one of the customers received a $500 partial refund.
Zoeller's office alleges CIG Realty violated the Home Loan Practices Act. The lawsuit seeks civil penalties, consumer restitution, attorney fees and to stop the company from committing deceptive acts in the future.