The lawsuit against Jim McConville and several individuals for whom he arranged mortgages at a development in Central California has been dismissed.
McConville’s check cleared, in other words.
The development in the city of Ridgecrest is one of a handful around the state touched by McConville that are reeling from the fallout from foreclosures, including four in San Diego County. Three such complexes in Escondido and San Marcos were the focus of our recent investigation.
More on the Ridgecrest suit:
The suit claims that McConville and several of the buyers in a 300-unit condo project in the Kern County town concealed the fact that they were obtaining other loans at the same time, and that they acted in conspiracy to provide false information to the lender.
The suit, filed by Najarian Loans, which lent at least 30 mortgages to McConville’s buyers in the project, claims the company had no idea the buyers were taking out numerous loans from different lenders at once.
When I wrote this story mentioning the Ridgecrest suit, the suing attorneys said McConville had more or less disappeared. But earlier this month, I heard that McConville had written a check to settle the suit, and that the attorneys involved were waiting to see if it would clear.
The amount of the check that McConville wrote to settle the lawsuit is confidential, said Edward F. Cullen, representing two of the co-defendants on the suit. Those co-defendants had agreed to let McConville take out loans in their name.
“I’m pleasantly surprised” the check came through, Cullen said. “[Najarian] received money from Mr. McConville and that money was accepted as a release of Mr. McConville and the defendants who were named in the lawsuit.”