Man Who Hasn't Paid 21 Judgments Back In Business
Joseph Stanley Launches New Real Estate Company
Last Updated: 1690 days ago
A businessman whose real estate dealings have been the focus of a Call 6 investigation is back in business using a new company name.Call 6 has been following Joseph Stanley and his companies for 2.5 years. He has not been charged with any crimes, but he has refused to pay monetary judgments in at least 21 civil lawsuits over the last five years, Call 6's Rafael Sanchez reported. Stanley didn't want to talk to Sanchez about his latest real estate venture, even though his newest company, Mutual Investment, hasn't had any issues to date."I'm not telling you anything. You get the hell out of my face," Stanley told Sanchez. "You are stupid and incompetent."Several people who have done business with Stanley and his companies in the past told Call 6 they think he should be in jail.Shelia Stiles, Steve Kuhn and Jeremy Tucker -- former customers of Stanley -- are three of several people who said Stanley and his business partners signed contracts to buy homes, failed to make payments and cheated them out of hundreds of thousands of dollars."Criminal charges definitely need to be brought," Stiles said.All the while, alleged victims said, the men either moved into the homes or collected money from renters living in the homes."I think that it's their purpose, their plan to ... seek people to take advantage of," Tucker said.Stanley most recently used the company name Spectrum Property Corporation. Under the new company name of Mutual Investment, Stanley's offer is the same. Realtors are calling 6News concerned that homeowners struggling to sell may find the offer enticing.Realtor Steve Rupp said he spotted trouble when Stanley offered to buy three properties at list price. Rupp said Stanley told him that he was working for a Fortune 500 company in Indianapolis to find employee housing.6News contacted six Fortune 500 companies in Indiana and a couple of other large corporations. None of them had heard of Mutual Investment."In my opinion ... it's a crime against the seller with a clear intent to defraud," Rupp said.Realtor Becky Wanick said she received a fax that claimed that Mutual Investment was backed by a "celebrity professional athlete silent partner.""It just didn't add up," she said.Stanley didn't want to talk to Call 6 about those claims either, but said, "I know a lot of athletes."Former Indiana Pacers player Dale Davis sent Stanley a letter in 1993 saying his shares of Investment Property Corp. were issued in violation of state law and asked the company never to use his name in association with another business venture.Stanley said he has paid for some homes, but he wouldn't say how many. Call 6 didn't find any evidence in Marion County's property records that indicate he or his company own any properties.The attorney general's office and Marion County Prosecutor's Office said real estate issues involving Stanley are best settled in civil court.Representatives of the attorney general's office said the office doesn't "have any complaints, facts or information that would indicate this falls within the AG's jurisdiction."The Marion County Prosecutor's Office said it closed a grand jury investigation after determining the situations were best resolved by civil contract cases.Call 6 uncovered 21 such cases brought against Stanley and/or his companies. They lost all the cases in 15 years, but they have never paid any of the judgments.