California Real Estate Fraud Report

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James McConville, aka “West Coast Donald Trump,” Goes to Prison for 8 Years

James McConville, once a successful developer, was sentenced to eight years and nine months in federal prison for money laundering and conspiracy to commitmail and wire fraud. While in business, McConville referred to himself as “the West Coast Donald Trump.”

McConville purchased over 300 properties using straw buyers, falsifying loan documents and charging excessive “marketing fees,” a fact he hid from lenders (loan fraud, mortgage fraud). All told, he is said to have collected $12 million in his enterprise, which involved stealing from his own business partners.

IRS investigator Mary Williams and prosecutors are concerned that McConville has not disclosed where he has hidden all his ill-gotten gains. They believe he has hidden the money in Puerto Rico, Switzerland, Sweden and Cyprus, as well as the small Caribbean island of Nevis. They also believe he laundered some of the money through his family.

Read the original article in ABC 7 News.

© 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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