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Ohio Attorney General Mike DeWine
Online Public Inspection File
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Defendants violated the CSPA by: 1) accepting money from consumers to be held in escrow to pay real estate taxes and insurance premiums and then failing to make the tax and insurance payments and failing to return the money to consumers in violation of OAC 109:4-3-09, 2) representing that property taxes and insurance had been paid in accordance with prior representations when they had not, 3) providing inconsistent and inadequate information regarding consumers' account, including but not limited to whether activity statements were sent and the value of deposits held in escrow to pay property taxes and insurance. Defendants committed unconscionable acts in violation of the CSPA by: 1) entering into a consumer transaction while knowing of the inability of the consumer to receive a substantial benefit from the subject of the consumer transaction, 2) entering into consumer transactions and accepting money from consumers when Defendants knew, or should have known, that due to the financial condition of American Escrow the contracts would not be honored, 3) entering into consumer transactions without disclosing the substantial likelihood that American Escrow's financial condition would adversely affect Defendants' ability to honor the contracts, 4) knowingly making misleading statements of opinion on which consumers were likely to rely upon to their detriment, including statements regarding individual consumer accounts and deposits held in escrow to pay property taxes and insurance. Defendants ordered to pay consumer restitution of $171,122.68 and civil penalties of $125,000.
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| © 2009 Ohio Attorney General Richard Cordray