Bakersfield.com Crisp & Cole

Crisp & Cole agent sentenced to 27 months

Mon, 30 Jan 2012 19:21:41 PST

A federal judge Monday sentenced a former sales agent with the now defunct real estate firm of Crisp, Cole & Associates to 27 months in prison for his role in a massive mortgage fraud case.

U.S. District Judge Lawrence J. O'Neill sentenced Robinson Dinh Nguyen, 31, of Fresno, to 27 months in prison followed by three years of supervised release, and ordered him to pay $433,000 in restitution for conspiring to commit mail, wire and bank fraud.

Lender asks to delay civil trial against Crisp, Cole, others

Wed, 31 Aug 2011 19:31:29 PDT

A lawyer for the former Fremont Investment and Loan has asked for a delay in its civil trial against a group of people who worked for or with Crisp, Cole & Associates, a defunct Bakersfield real estate firm whose principals are under federal indictment in a mortgage fraud case.

Fremont was a subprime lender and servicer that went bankrupt in 2008 after a flood of home loans defaulted in the real estate crash. It was reorganized as Fremont Reorganizing Corp. and taken over by Signature Group Holdings Inc., a private investment firm that provides credit and investment capital for mid-market companies.

Judge in Crisp & Cole case chooses October for next court date

Fri, 20 May 2011 16:57:41 PDT

A federal judge in the Crisp & Cole Real Estate mortgage fraud case on Friday scheduled the next status conference for Oct. 7, agreeing with defense lawyers that several months were needed to review extensive computer evidence seized by the government.

Seven of 10 defendants who were indicted in January showed up to court in Fresno Friday, while the other three had waivers allowing lawyers to appear in their stead. All 10 are out of custody.

Crisp & Cole defendant wants his belt back

Fri, 11 Mar 2011 17:00:50 PST

There are belts and then there are belts. The black leather one that a Kern County Sheriff's deputy removed from the waist of Bakersfield mortgage fraud defendant Jayson Costa was the kind you don't easily forget.

Now that it's missing, he wants the county to pay him $338.67 to replace it.

Last Crisp & Cole defendant released pending trial

Thu, 17 Feb 2011 17:29:17 PST

Jayson Costa, one of 10 people connected to Crisp & Cole Real Estate facing federal prosecution for allegedly engaging in mortgage fraud, was released on bail Thursday following a hearing in Fresno.

Now all the suspects are free pending trial. Former Realtor David Crisp, the only other suspect who remained in custody after federal indictments were unsealed last month, was ordered released from custody Wednesday.

Crisp ordered released from custody

Wed, 16 Feb 2011 17:44:16 PST

David Crisp, a former real estate executive now facing federal mortgage fraud charges, was ordered released from custody Wednesday and was expected to return to Bakersfield to live with his wife and son at his sister's home.

Magistrate Judge Gary S. Austin ruled that Crisp be released on a $25,000 property bond and a $50,000 unsecured bond, according to the U.S. Attorney's Office. Crisp's sister, April, was given responsibility for making sure her brother shows up to his scheduled court appearances.

Bail hearing for Crisp & Cole defendant delayed

Mon, 14 Feb 2011 16:11:14 PST

A bail review hearing for former loan officer Jayson Peter Costa was continued Monday to 11 a.m. Thursday to allow defense attorneys, pretrial services and prosecutors to look further into some concerns raised privately with U.S. Magistrate Judge Sandra M. Snyder.

The U.S. Attorney's Office wouldn't disclose the nature of those concerns, which were brought up in judge's chambers during a detention hearing Monday in the Eastern California district of U.S. District Court in Fresno.

Crisp & Cole defendants have court hearing

Fri, 11 Feb 2011 17:01:49 PST

Ten people connected to Crisp & Cole Real Estate, including principals David Crisp and Carl Cole, had a hearing Friday in front of the judge who will hear their case in federal court.

For all but Cole, it was their first time in front of Judge Lawrence J. O'Neill.

Judge deems Cole a flight risk

Mon, 07 Feb 2011 17:44:07 PST

A federal judge in Fresno sided Monday with prosecutors arguing that mortgage fraud defendant Carl Cole poses a flight risk and may need to be detained.

Despite agreeing as to the inadequacy of two $10,000 bonds filed by Cole's wife and one of his sons to secure the defendant's release, the judge released Cole Monday and ordered him to return to court Friday, when Cole's attorney is expected to propose a bond amount that would ensure his continued appearance in court proceedings.

Crisp to stay in custody, be transferred to Fresno

Thu, 27 Jan 2011 17:44:52 PST

Former Realtor David Crisp, one of 10 people connected to Crisp & Cole Real Estate facing federal prosecution for alleged mortgage fraud, will remain in jail after a hearing in San Diego Thursday.

U.S. Magistrate Judge Nita L. Stormes ordered the principal of the now defunct real estate firm to remain detained pending his transfer to Fresno, where he will be tried in federal court.

GRETCHEN WENNER: Flipping, straw buyers and foreclosure

Thu, 27 Jan 2011 14:38:40 PST

Back in 2006, when David Crisp was a 26-year-old millionaire wearing a $50,000 Chanel watch that glittered with hundreds of diamonds, he told The Californian he planned to be a billionaire by 35.

"The odds say I won't," Crisp said. "That's why I like those odds."

Defendant in Crisp & Cole case to remain in custody

Tue, 25 Jan 2011 18:25:25 PST

Jayson Costa, one of 10 people connected to Crisp & Cole Real Estate facing federal prosecution for allegedly engaging in mortgage fraud, was held detained in Fresno County Jail at a detention hearing Tuesday.

In U.S. District Court in Fresno, Judge Sandra M. Snyder ordered Costa detained as a flight risk.

How three Crisp & Cole foreclosures unfolded

Tue, 25 Jan 2011 10:59:18 PST

It may be some time before we know how the federal case against David Crisp, Carl Cole and eight others unfolds in court.

But the federal grand jury indictment unsealed last week lists 19 properties bought by Crisp, Cole & Associate staffers or family members. Prosecutors allege the defendants used “a variety of fraud schemes” to skim cash from each transaction through an “elaborate use of straw buyers” to buy, sell, and refinance homes. Property values were sometimes inflated by flipping houses among a web of participants.

Crisp pleads not guilty to mortgage fraud charges

Mon, 24 Jan 2011 18:58:56 PST

Former Realtor David Crisp pleaded not guilty when he appeared before U.S. Magistrate Judge Nita Stormes in San Diego Monday, according to a spokeswoman for the U.S. Attorney's Office.

Mortgage fraud indictments against Crisp and nine others, including his former business partner, Carl Cole, were unsealed Friday.

Neighbors in Grand Island area reflect on Crisp & Cole case

Mon, 24 Jan 2011 12:19:51 PST

Ordsall Street homeowner Elaine Hull was trying not to think about the massive Crisp & Cole Real Estate mortgage fraud scheme alleged in a 56-count federal indictment unsealed Friday.

Still, Hull can't get over her suspicion that the alleged fraud contributed to her home's steep drop in value shortly after she and her husband bought it in 2006.