David, Jennifer Crisp plead guilty in real estate fraud case

David, Jennifer Crisp plead guilty in real estate fraud case »Play Video
David and Jennifer Crisp enter federal court in Fresno, Calif., Monday, Dec. 16, 2013, to plead guilty to real estate fraud charges. (KBAK/KBFX photo)

FRESNO, Calif. (KBAK/KBFX) — The second primary defendant in the Crisp & Cole Associates real estate fraud case entered a guilty plea Monday to conspiracy to commit mail, wire and bank fraud.

Fifty-five other federal counts were dismissed against former Bakersfield real estate mogul David Crisp as part of his deal with prosecutors.

David Crisp plea agreement >>

Wife Jennifer Crisp also pleaded guilty Monday in a Fresno courtroom, part of joint deal. She admitted guilt to mail and wire fraud.

Jennifer Crisp plea agreement >>

David Crisp and Carl Cole scammed millions of dollars out of banks and mortgage companies between 2004 and 2007. They submitted fraudulent loan applications with material misrepresentations.

The long-running case tallied 15 defendants. The only defendant to not plead guilty is former Crisp & Cole Associates bookkeeper and operations manager Julie Farmer. She's scheduled to go to trial in February.

Cole admitted guilt to conspiracy to commit mail, wire and bank fraud during a federal court hearing last month.

The Crisps are both scheduled for sentencing in early March. David Crisp faces a maximum of 30 years in prison and a $1 million fine under his agreement. His wife faces a maximum sentence of 20 years in prison and a $250,000 fine.