California Real Estate Fraud Report

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19
May

Bay Area man indicted for fraudulent purchase of condos

James Delbert McConville has been indicted by a federal grand jury on fraud and money-laundering charges. He is accused of using the identities and credit records of straw buyers to purchase 80 condominium units in Escondido and San Marcos. The straw buyers were paid $5,000 to $10,000 for renting their credit histories to McConville.

Also named as co-conspirators in the indictment were real estate agent Laura Margery Caton, Jason Piette, Rasul Rasuli, Donna Demello (an escrow officer) and Araks Davoudi (a personal banker). All have been ordered to appear before the court in June.

McConville has a prior conviction for grand theft in 1998, for which he was ordered to pay restitution for committing insurance fraud. His whereabouts are currently unknown, according to the San Jose Mercury News.

Read the full article in the San Diego Union Tribune.

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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