California Real Estate Fraud Report

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02
Feb

Crisp & Cole Real Estate Agent Off to Prison for Mortgage Fraud

Robinson Dinh Nguyen, formerly a real estate agent with the defunct and disgraced Crisp & Cole Associates, has been sentenced to prison for 21 months and ordered to pay $433,000 in restitution. The California Department of Real Estate (DRE) revoked his license in 2008.

In his guilty plea, Nguyen, 31, admitted that he had conspired with others to submit fraudulent loan documentation and used straw buyers in order to obtain mortgage loans from financial institutions (mortgage fraud, loan fraud). Many were 100% loans and others were refis, the purpose of which was to skim equity and then let the homes fall into foreclosure. The lenders, of course, lost millions.

The defendants who have already pleaded guilty are Kevin Sluga, Crisp & Cole’s CPA; Jerald Teixeira and Christopher Stovall, former loan officers for Tower Lending; Megan Balod; and Leslie Sluga. Those defendants still awaiting trial are David Marshall Crisp, Carlyle Lee Cole, Julie Dianne Farmer, Sneha Ramesh Mohammadi, Jayson Peter Costa, Jeriel Salinas, Michael Angelo Munoz, Jennifer Anne Crisp, and Caleb Lee Cole.

Read the original article in the Central Valley Business Times.

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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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