California Real Estate Fraud Report

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Crisp & Cole Mortgage Fraud Case Wrapping up with Pleas

Carl Cole, one of the principals in the Bakersfield firm of Crisp & Cole, is about to enter a guilty plea in the case against him and 14 other defendants in which lenders were defrauded out of millions.

Cole will plead guilty to conspiracy to commit mail fraud, wire fraud and bank fraud. In addition, he will be serving at least eight years in prison and turn over close to $30 million, which he admitted obtaining as a result of the criminal scheme of which he and others were accused.

Pleas were also announced by the U.S. Attorney’s Office for Caleb Lee Cole (Carl Cole’s son), real estate agent Sneha Ramesh Mohammadi, and unlicensed loan officer Jayson Peter Costa.

Julie Farmer, Jeriel Salinas, Michael Munoz and Jennifer Crisp have trial dates in 2014.

Those who have already pleaded guilty are real estate agent Robinson Dinh Nguyen, accountant Kevin Sluga, loan officer Jerald Teixeira, loan officer Christopher Stovall, Megan Balod and Leslie Sluga.

Read the original article in Bakersfield Now.

There are many articles going into more depth about the Crisp and Cole case that can be found be using the search bar in this blog.

© Copyright 2007-2018 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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