California Real Estate Fraud Report

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Man Convicted of Real Estate Fraud for 400 Homes

James Delbert McConville, the subject of many posts in the California Real Estate Fraud Report, has pleaded guilty in Oakland federal court to money laundering and conspiracy to commit wire and mail fraud.

McConville was accused by prosecutors of setting up an elaborate network including a Citibank employee, an escrow officer, a Realtor and a notary public. He also convinced dozens of people to act as straw buyers, using their good credit and a bribe of $10,000 to encourage their participation.

The properties McConville purchased were located all across California. San Diego appraiser Todd Lackner referred to the schemes as “sterotypic mortgage fraud.”

Although he has promised to pay restitution, McConville’s attorney, Sara Rief, claims her client is broke. This is most likely due to the large amount of money his crimes afforded him to spend on himself.

Read the original article in KGTV San Diego.

© 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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