Renters at Stonemark Homes in east central Fresno could be the victims of a real estate scheme that stretches from the Valley down to Southern California.

At the center of the suspected scam is 58 year old James McConville.

McConville is the subject of an investigation in San Diego County for allegedly renting identities to purchase properties.

More than 150 homes connected to McConville have gone into foreclosure.

“That seems to be McConville’s M.O., find investors or find people with good credit, use their identity, pay them a little bit so he can get the loans and then let them (properties) go into default while he pockets all of the money.,” property appraiser Carin Lane said.

Lane became involved when she was hired by an insurance company to investigate.

One of McConville's many companies is Stonemark Asset Portfolio.

It's through this company McConville purchased all 106 units at a complex at McKinley and Winery in east central Fresno, now called Stonemark Homes.

Records show McConville's company bought the units for $150,000 then sold them a few months later for an additional $75,000.

Lane said, “Stonemark Asset Portfolio is selling the properties for $225,000, way too much to people in the Bay area and their address is “Canyon Heights”, the same address as Stonemark. So, we’re going, the seller sold to a buyer with the same address for way too much money? Something's not right here.”

At least 10 people listed as owners of multiple units at the east central Fresno complex have McConville's address listed as their own.

Stumped by the association, Lane wondered, “Are these people victims of identity theft?
Or is this an issue of straw buyers?”

The past suggests the latter.

Many of the owners of Stonemark units were also listed as owners of units at McConville's other properties now being investigated as possible scams.

All of the people listed as owners at Stonemark are from areas in Northern California, except one; Fresno doctor, Diego Allende.

A foreclosure notice was found Tuesday on a unit listed on loan papers in Allende’s name.

KSEE 24 NEWS made attempts to speak with Dr. Allende, but were told Tuesday, he was out of the country.

But, renters of units at Stonemark Homes say they need answers.

Baron Woodman who lives in a unit listed in pre-foreclosure said, “I'm upset just like anyone else here. We don’t know where our money is going and it’s unfair to the people that pay rent here,”

Click on the link to see Carolyn Bruck’s exclusive report.