Mortgage fraud suspect pleads guilty

July 8, 2011 9:11:42 PM PDT
The central figure in a real estate fraud case uncovered by the ABC7 I-Team has agreed to plead guilty at a hearing later this month.

It's been two years since we revealed how Jim McConville set up straw sales, paying people $10,000 to use their name and good credit to purchase properties up and down the state.

He often took exorbitant fees in the transactions and defaulted on the loans, ruining his investors' credit.

McConville is being held on money laundering and conspiracy charges.