The California Department of Real Estate is accusing the once high profile, real estate team of Crisp & Cole of fraud.
In a filing faxed to Eyewitness News, the state alleges eight causes of action against David Crisp, Carl Cole, their lending arm "Tower Lending" and three other associates. Among the accusations, fraud and dishonest dealings in several real estate purchases conducted by the now defunct Bakersfield firm.
Kiyoshi Tomono's Blog
BAKERSFIELD - The California Department of Real Estate has filed a formal accusation accusing David Crisp and Carl Cole and their now-defunct realty firm of fraud.
The accusation names Crisp, Cole, the Crisp & Cole firm, Tower Lending, and several others with whom they allegedly performed unlawful real estate transactions. The action could result in the revocation of the licenses of the accused.
None of the accused immediately returned phone calls from Channel 17. The accusation says the Crisp and Cole were guilty of fraud in how they got mortgages for some of the high-end southwest Bakersfield properties they bought in 2005.