Judge strips questionable realtor of businesses

INDIANAPOLIS - A man accused of living for free in homes for sale has been put out of business.

Joe Stanley, once at the top of a central Indiana real estate business, did not like that the Call 6 Investigators exposed his business practices, but a Marion County judge recently stripped Stanley of his companies.

That means no more Spectrum Property Corp, Motordom Automotive and Properties, Paradigm Property, Mutual Investments or Spectrum Paradigm.

Stanley’s company usually offered to buy a house over a two-year period under a land contract. As part of the deal, the company agreed to pay a deposit and make regular payments. He rarely paid and lived in homes for free until eviction.

"I hope justice was served to get this stopped," Ronald Weimer said.

Weimer is among the many victims of Stanley's scheme. The Call 6 Investigators have been looking into Stanley’s business practices since 2006.

The Attorney General's office highlighted the Call 6 Investigations as part of their case in court.

"We were able to show his pattern. We were able to show consumers being harmed," Deputy Attorney General Jenny Bellar said.

The court's ruling also forbids Stanley from incorporating or serving as a member or officer of any business involved in real estate.
   
The judge believes the permanent injunction will protect customers in the future.

Stanley has filed an appeal with the court asking for a reversal of the judge's order.

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