David, Jennifer Crisp plead guilty in real estate fraud case

David, Jennifer Crisp plead guilty in real estate fraud case

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.