New owner feeling effects as police investigate real estate comp - KXXV-TV News Channel 25 - Central Texas News and Weather for Waco, Temple, Killeen |

COPPERAS COVE

New owner feeling effects as police investigate real estate company

COPPERAS COVE, TX (KXXV) -

Copperas Cove police have an open investigation against a real estate company, and its new owner is feeling the effects.

Police say they're investigating Platinum Real Estate in Copperas Cove for taking contracts from people, taking the money and then not fulfilling the contracts. Police say they've identified 42 people in the case since June 18.

The new owner of the building, Rick Ott, says police came by Thursday morning to look for files. Ott says they took computers and files for their investigation. He says the company has been gone since April and he's been working out of the same building, under the same franchise ever since. The two previous owners have had their licenses suspended by the Texas Real Estate Commission.

Ott, who used to work under the owners as a real estate agent, says he was surprised when this all came out. However, he's now dealing with the fallout, with customers coming by wanting their money back.

"Still we've had a lot of people come in here demanding their security deposits and I have to set down here and tell people I stand behind the counter and I say well I don't have it, it wasn't me, you're here because of the building, that's why you're here," Ott said.

Ott says some people even come with police officers. He says the main problem is people still thinking his business is the same as the previous owners'. While he is under the same franchise as Remax and is in the same building, he does have a new business. However, people still see the building and remember.

"People post pictures online you know don't go here, what they don't realize is that yes that was true until April 21, I'm nothing like these people," Ott said.

Ott says he hopes this investigation doesn't tarnish the reputation of real estate agents and brokers. He says these people were just a couple of bad apples in the bunch.

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