Crisp & Cole fraud case: Cole pleading guilty, Crisp living in San Diego

Crisp & Cole fraud case: Cole pleading guilty, Crisp living in San Diego

SAN DIEGO (KBAK/KBFX) — Former Bakersfield real estate moguls David Crisp and Carl Cole are accused of scamming millions of dollars from banks and mortgage companies last decade.

Cole is slated Thursday to plead guilty to conspiracy to commit mail fraud, wire fraud and bank fraud. In addition to prison time, part of the plea deal is a $30 million forfeiture - the amount Crisp & Cole Associates is accused of benefiting via fraudulent loan applications.

What about Crisp? He's set for trial next year, along with four other defendants.

Eyewitness News recently found Crisp living in San Diego - living a very different life from his high times as a Bakersfield real estate tycoon.