California Real Estate Fraud Report

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21
Nov

Crisp & Cole Office Manager Sentenced

Crisp & Cole Office Manager Sneha Ramesh Mohammadi has been sentenced to 18 months in prison for her participation the mortgage fraud case that shook the Bakersfield real estate market.

According to U.S. Attorney Benjamin Wagner, Mohammadi , 52, will also be serving five years of supervised release. She is the latest of the defendants to be sentenced, all of whom have been ordered by U.S. District Judge Lawrence O’Neill to pay restitution of $10,747,073 to the lending institutions.

David Crisp and Carl Cole were the principals who owned and ran Crisp & Cole Real Estate (CCRE) and Tower Lending, their affiliated mortgage brokerage. Prosecutors said that from January 2004 and September 2007, the two men and a number of their employees and relatives operated a mortgage fraud scheme by using straw buyers to purchase properties for which they submitted false information on the loan applications.

Here is a summary of the rest of the prison and probation sentences:

David Crisp – 17 years, seven months

Carl Cole – 17 years, seven months

CCRE Chief Operations Officer Julie Farmer – three years

Loan officer Jayson Peter Costa –  six years and six months

Real estate agent Michael Munoz – two years. Munoz allowed his real estate license with the California Bureau of Real Estate to expire.

Caleb Cole – five months

Christopher Lance Stovall – one year

Kevin Patrick Sluga – 20 months

Robinson Nguyen – 27 months (already served)

Jennifer Crisp – five months (probation)

Megan Balod – 36 months (probation)

Leslie Sluga – three years (probation)

Jerald Allen Teixeira will receive his sentence in February, 2015. The sentences for the other defendants are:

Read the original article in the Central Valley Business Times.

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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