SAN DIEGO -- An alleged statewide, multimillion dollar real estate scheme has ruined credit scores for dozens in San Diego, one investor claims. An I-Team reports shows the alleged scheme is happening more and more.

Jim McConville and his daughter Nicole orchestrated real estate deals throughout California. The elder McConville told investors they could cash in on the real estate market from the Bay Area to San Diego, including 81 properties in Escondido and San Marcos. But instead of cashing in, McConville's investors drew the short straw. He paid them $10,000 each to be straw buyers, which means he used their name and good credit to make the purchase.

"You know what? Honestly, I'm, I'm devastated," said investor Cristy Voss who was a straw buyer for two San Diego condos. McConville assured Voss he would make the payments, but he didn't.

"I said, you know well what if you default on the loan?'" said Voss. "And he said, 'I'll never default on the loan. I would never do that.'"

McConville borrowed $700,000 in Voss' name to buy the properties. Now the bank has foreclosed and Voss' credit score has gone down 200 points.

In 2008, housing prices were falling and San Diego appraiser Todd Lackner wondered why McConville's straw buyers were overpaying for condos McConville picked out.

"This was stereotypic mortgage fraud," said Lackner noting investors were paying more than twice the value of a property.

One address on 1350 North Escondido Boulvevard, number 7 was a 480-square-foot studio. McConville's straw buyer paid $265,000 for it in August 2008. Assessors' reports said the property was only worth $140,000.

Everyone was getting paid off: the sellers, the straw buyers and the appraisers, but no one more than McConville himself who received $100,000 kickbacks from each overpriced property. He called the kickbacks a marketing fee.

Lackner, the appraiser, complained to Fannie Mae, Freddie Mac and Congressman Darrell Issa, who represents the district where much of this alleged fraud was happening. But McConville wasn't stopped. Nowadays, he's not stopping to talk either. The I-Team contacted his attorney, but did not receive a response.

Congressman Issa said the House Oversight and Government Reform Committee is using appraiser Lackner's information for their ongoing investigation into what caused the housing bubble that lead to the financial crisis. The I-Team has also learned the FBI in the Bay Area has opened an investigation into McConville and his straw buyers.