California Real Estate Fraud Report

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30
Jun

Fugitive arrested in alleged San Diego real estate fraud

James Delbert McConville, indicted along with five co-conspirators in May as ringleader in a real estate fraud at several condominium complexes, was arrested in Valley Acres, southwest of Bakersfield. The condos were located in Escondido, San Marcos and a 300-unit complex in Ridgecrest, north of the Antelope Valley. The indictment originated out of the East (San Francisco) Bay because McConville’s offices were located in Fremont.

McConville not only found straw buyers who were stupid enough to rent their good credit ratings to purchase the condos, he charged “marketing” fees that ranged upward of half the purchase price of the properties, all of which he later ceased making payments on and allowed to fall into foreclosure.

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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