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[ATG] Zoeller: State sues New York-based realty company for taking $12,500 from Hoosiers
Start Date: 6/7/2013 All Day
End Date: 6/7/2013
Entry Description

INDIANAPOLIS – Indiana Attorney General Greg Zoeller’s office filed a lawsuit today against a New York-based realty company for ripping off Indiana consumers.

The lawsuit filed in Marion County targets CIG Realty Inc., Keith Anthony and Anthony Podias. According to the complaint, CIG Realty offered to provide alternative home financing to individuals who couldn’t secure a traditional home loan. Zoeller said buyers were required to make a down payment before the company would make an offer on a property on the buyer’s behalf.  

“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 made upfront payments ranging from $3,000 to $5,000 and only one of those customers received a partial refund of $500.

In one case, a consumer contracted with CIG Realty to purchase a home in Indianapolis and paid a $3,000 deposit. CIG Realty placed an offer for $24,000 on the property, but the amount was not accepted by the seller. The company later placed a bid on a separate property for $28,000, but when a counter-offer was made by the seller, CIG Realty did not respond. The company then asked the customer for more money upfront without a new contract in place. Requests for a refund went unanswered.

According to the filing, “Upon information and belief, the defendants have never successfully closed on a property they offered to purchase on behalf of any Indiana consumer.” Customers were also required to sign a contract which would have made them bring the property to a habitable condition within three months of the closing and pay for any future repairs. The contract also stated that the customer could be evicted by CIG Realty.

According the lawsuit, CIG Realty violated the Home Loan Practices Act and failed to obtain a certificate of authority to do business in Indiana. The state seeks consumer restitution, civil penalties, attorneys’ fees and to stop the company from committing further deceptive acts.

Zoeller thanked Deputy Attorney General Monica Schmucker for her work on the case and dedication to the Homeowner Protection Unit.

-30-

Contact Information:
Name: Erin Reece
Phone: 317.232.0168
Email: Erin.Reece@atg.in.gov
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Entry Type:
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Entry Category:
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  • IN.gov Category:
  • Government
  • Agency Name
    Attorney General

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