Mortgage Fraud Suspect Is Slasher-Movie Producer

A producer of a low-budget 2009 Hollywood slasher film has been indicted for masterminding a real estate swindle that reaped millions of dollars from shady condominium purchases in California.

James D. McConville was aspiring to be the movie industry's next Wes Craven, but instead is starring in his own horror extravaganza that might be aptly titled Invasion of the Mortgage Fraudsters.

McConville and five co-conspirators have been federally charged with conspiracy to commit fraud and money laundering, involving hundreds of condominium purchases in Southern and Northern California. Many of those condominiums are now in default. Like the maniac in his film "Red Velvet,"McConville and his cronies allegedly stabbed their victims in the back --metaphorically speaking, of course --when they least expected it.

And like a fright film's elusive villain, McConville has yet to be apprehended, according to indictment from the United States Attorney's Office for the Northern District of California.