California Real Estate Fraud Report

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Crisp & Cole Defendant David Crisp Gets 17+ Years in Prison

Friday, April 4th, 2014

David Crisp, the figurehead in the largest mortgage fraud conspiracy in Bakersfield’s history, has been sentenced to 17 1/2 years in federal prison. He had pleaded guilty in December 2013 to conspiracy to commit mail, wire and bank fraud. Just prior to sentencing Crisp, the judge called him a “fiscal predator.” The judge did show mercy […]

David Crisp to Enter Guilty Plea Today in U.S. District Court

Monday, December 16th, 2013

David Crisp, the 34-year old alleged leader the massive Crisp & Cole mortgage fraud that rocked Bakersfield, has agreed to admit to one felony count of conspiracy to commit mail, wire and bank fraud. Crisp’s plea is scheduled to be entered today before U.S. District Court Judge Lawrence O’Neill and his sentence could be up to […]

Crisp & Cole Office Manager Sentenced

Friday, November 21st, 2014

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 […]

Julie Farmer, Crisp & Cole Defendant, Gets Prison and Hefty Fine

Tuesday, September 30th, 2014

Crisp & Cole defendant Julie Farmer felt the full weight of the judicial system this past Monday. Farmer, who was the Chief Operations Officer for the firm, was sentenced by United States District Judge Lawrence J. O’Neill to three years in prison, to be followed by five years of supervised release. Showing just how profitable mortgage […]

Julie Farmer, Final Crisp & Cole Defendant, Found Guilty on 7 Charges

Friday, April 25th, 2014

The only defendant to take a chance at trial in the long-running Crisp & Cole prosecution has been found guilty on seven counts related to her activities at the firm. Julie Farmer was originally a bookkeeper and eventually became their operations manager. The jury found her guilty on single counts of conspiracy to commit wire […]

Crisp & Cole Defendant Gets 6+ Year Prison Sentence

Friday, March 28th, 2014

Jayson Peter Costa, 41, of Bakersfield, who was a loan officer in the largest mortgage fraud prosecution in Bakersfield, was sentenced to 78 months in federal prison. Costa worked for David Crisp and Carl Cole at their Tower Lending mortgage brokerage. He admitted in his plea agreement  that he submitted fraudulent loan applications for his […]

Financial Times Publishes Lengthy Story about Crisp & Cole Mortgage Fraud

Wednesday, February 12th, 2014

Many, many articles have been posted in the California Real Estate Fraud Report about David Crisp, Carl Cole and the business they ran in the mid-2000s in Bakersfield that conned banks out of millions. Now, Financial Times has published an extensive, compelling story that is an intense personal look at both David Crisp and Carl […]

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

Thursday, February 2nd, 2012

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 […]

Fremont Investment Requests Delay in Crisp & Cole Trial

Friday, September 2nd, 2011

An attorney for Fremont Investment and Loan, the subprime lender that went bankrupt as the result of the real estate downturn, has requested Kern County Superior Court Judge David Lampe to delay the trial against agents Realtors David Crisp and Carl Cole. The two former high-powered agents are named in the civil suit along with […]

Crisp and Cole Real Estate Broker Possible Flight Risk

Friday, February 11th, 2011

For a man accused of being part of the largest mortgage fraud scheme in Bakersfield’s history, Carl Cole is flat broke. Claims by his wife that they are $3 million in debt and that they have only $2,500 in their bank account are part of the reason prosecutors believe Cole is a flight risk and […]

© 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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