Monday, August 27, 2007

More troubles for David Crisp

Update (8/28/07):

Click here to view the lawsuit.

From KBAK TV 29:


Missouri-based Chicago Title Company, represented by a Pasadena law firm, is suing David Crisp, his wife Jennifer and Crisp's former real estate company, Crisp & Cole and Associates for more than $160,000.

The lawsuit alleges Crisp took out a line of credit on a Central Bakersfield property for more than $149, 000 from Wells Fargo bank. But, when he sold the house in November of last year, the line of credit was not paid off at closing. The principal, plus interest and other fees add up to $160, 917.91.

In July, Chicago Title paid off Crisp's note in full. Wells Fargo then assigned the note to the title company..

From KGET.com

Chicago Title said it issued the title insurance in 2005 when Crisp bought a home that had been converted to a law office at 1215 L St.

The suit said Crisp took out a $149,000 mortgage on the property. He then gave a 99 percent interest --- for free --- in the building to the real estate company he then headed, Crisp, Cole and Associates.


The suit said Crisp and his company sold the house last year for $260,000, but didn't pay the original $149,000 mortgage. Chicago Title said it ended up paying that bill, plus interest, and now wants it to be paid back. The total is more than $160,000.

A first court date has been set for November.

________________________________________________________

CRISP, COLE & ASSOCIATES
DEFENDANT
CHICAGO TITLE COMPANY VS DAVID CRISP
OTHER CIVIL COMPLAINT
S-1500-CV-261629
8/22/2007


CRISP, DAVID
DEFENDANT
CHICAGO TITLE COMPANY VS DAVID CRISP
OTHER CIVIL COMPLAINT
S-1500-CV-261629
8/22/2007


CRISP, JENNIFER
DEFENDANT
CHICAGO TITLE COMPANY VS DAVID CRISP
OTHER CIVIL COMPLAINT
S-1500-CV-261629
8/22/2007

12 comments:

Tyrone said...

Didn't he run off to europe?! Run, Crispy, run! MWAHAHAHA

Rob Dawg said...

I wish you would all leave the poor guy and his family alone.

And he would of gotten away with it too if it weren'y for those meddling bloggers and their damn dawg.

Idaho_Spud said...

Where is the farking DA?

Gwynster said...

LOL Rob

Please come find me if the local news gets some good drunken Crisp raves on tape. Who needs Paris? >; )

bako said...

Chicago Title says Crooky Crisp owes him around 160K for a property he sold and didn't pay off that Chicago Title issued insurance on.

RMB said...

Did this guy do anything legal? As this stuff continues to come up, you have to wonder if was/is any oversite with these transactions. I am so happy that they are going to bail out all the banks that lent these people money instead of making the banks be more responsibile with who they lend money too.

wholesale lender said...

David has 80 properties in default, what a loser. How can this punk still have a RE License?
Who would ever list a house with Crisp Real Estate?

Raynor said...

File all this under:

"Open the Floodgates. There's a whole lot more coming!"

Raynor said...

Idyhoe: DRE and FBI are handling it. They have offices set up locally. What more do you want?

[again with music] DA acts on local complaints. When wire fraud is involved (think why Chicago paid off note) that is FBI. Capice?

subsonic22 said...

I think baby Crisp will be very tired the next few months. All those court appearances and reporters wanting to interview the parents is going to wear the little tyke out. I don't know the baby's name, but if they need one, Prop comes to mind.

xs10shell said...

What a difference a year makes. This is an old story from KGET.com

Posted 9/22/06
BAKERSFIELD - David Crisp of the Bakersfield realty partnership Crisp & Cole said rumors about the duo’s personal integrity and private lives have been detrimental to their daily business.

The rumors have included allegations that Crisp is under investigation by the IRS or the FBI, or he was arrested over the weekend, along with other variations.

Crisp said the rumors are simply untrue and the local real estate market is changing so they are trying to adapt to the changes.

Crisp said he is moving ahead with their new office building across from Cal State, and with plans for the $350 million tower condominium project with Cal State.

He said while some investors have begun to ask questions about all the rumors, many have recently given the business partners reassurance of their support.

Ichabod said...

I can see it now:

Crisp opens the mail, sees hes being sued for $160,000, and thinks,

"Whew! Is that all? That's not too bad!"