Let the blame game begin. These folks now claim they were duped by David and Carl.
BEFORE you read today's story lets go back in time and see what the "victims" said before they were duped.
Sac Bee Puff Piece (Oct 2005):
"He got into the real estate business right when it was starting to boom here ... and he has just the right personality for it," said Crisp's mother-in-law, Leslie Sluga, who has bought and sold investment properties with his help. "You can't tell him 'no.' He just doesn't understand the word 'no.' It's kind of scary sometimes."
From today's Bakersfield Californian:
BY VANESSA GREGORY AND GRETCHEN WENNER,
PDF of Accusations of Fraud
The 25-page document says actions by Cole, Crisp and the employees constituted fraud, "dishonest dealing" and "substantial misrepresentations of material facts."
Cole "failed to take reasonable steps" to review loan applications and prevent false employment, occupancy and other statements on the loan papers, the accusation states.
Crisp, Pinheiro and Cole identified Sluga as a Crisp, Cole & Associates employee to induce SunTrust Mortgage, based in Richmond, Va., to issue $374,000 worth of loans to fund the purchase of 800 Astoria Park Drive, the report said.
To purchase 11504 Haydock Court with $1.7 million in loans from Anthem, Ariz.-based Kirkwood Financial Corp., the company identified Sluga as the owner of California Business Solutions, of Bakersfield, when she actually worked there as a bookkeeper.
"They used me to buy these properties that they wanted because I have good credit," Sluga said Monday.
Neither she nor her daughter had any knowledge of the activities mentioned in the report and her family is distraught, Sluga said. She says she signed loan documents, but never saw the applications.
"I am a victim," Sluga said. "I had no idea what Crisp & Cole or Tower Lending were doing. I trusted David and Carl."