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Sunday, June 23, 2024 | Back issues
Courthouse News Service Courthouse News Service

Bizarre Ripple From Real Estate Meltdown

CLEVELAND (CN) - In a bizarre ricochet from the nationwide real estate fiasco, an assistant manager claims Home Depot fired him after he was victimized by unscrupulous lenders who cheated him and 90 other "unsophisticated consumers," all of whom were prosecuted by the City of Cleveland as it went after ACE Home Loans and Shaker Title.

Eric Cannaday says that after he pleaded guilty to misdemeanors and testified against ACE and Shaker, Home Depot, contrary to store policy," subjected him to a second "background check," and fired him.

Cannaday claims in Cuyahoga County Court that after he bought his first home, and five other properties, "ACE and Shaker title were investigated by the City of Cleveland for fraud in its transactions. Over 90 homeowners who purchased their homes through ACE were indicted as part of the scheme. All were unsophisticated consumers who had been duped by ACE but were penalized nonetheless. The City leveled felonies against all homeowners of fraud and falsification. Mr. Cannaday was among the 90 homeowners targeted. Mr. Cannaday pled guilty to four misdemeanors for falsification and agreed to testify against Ace and Shaker Title. Mr. Cannaday has no other criminal record."

He says Home Depot then "requested that he take another background check, contrary to store policy, because it had become aware of Mr. Cannaday making several court appearances." Then it fired him.

Cannaday says the mortgage lender in the underlying case was Argent, Inc.

He demands punitive damages for breach of contract, wrongful firing, misrepresentation and emotional distress.

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