Attorney General Jeff Jackson has initiated legal proceedings against Stone Brook Partners and its CEO, Antony Mitchell. This action aims to compel the entities to comply with investigative demands from the Department of Justice. Mitchell, who also leads MV Realty, is facing a summary judgment in a related case involving similar allegations.
According to Attorney General Jackson, "These real estate companies scammed North Carolinians into signing contracts that force them into predatory long-term agreements." He further accused Mitchell of employing tactics designed to exploit residents in North Carolina. "We’re going to use every legal tool at our disposal to do right by homeowners," he stated.
The North Carolina Department of Justice (NCDOJ) filed a lawsuit against MV Realty in 2023. The company allegedly targeted vulnerable homeowners by offering cash payments upfront in exchange for an exclusive commitment to use their services. It is claimed that these agreements bound homeowners to MV Realty for extended periods and included liens on their properties as enforcement measures.
Stone Brook Partners is under scrutiny for comparable practices. The company reportedly offered cash incentives in return for the rights to make the first purchase offer if homeowners decided to sell their properties. These contracts allegedly contained undisclosed 30-year commitments along with other unfavorable terms.
Attorney General Jackson seeks a court order mandating Stone Brook Partners to produce documents pertinent to the investigation, which they have so far failed to provide.