Guilty plea for former Bakersfield real estate mogul David Crisp

Guilty plea for former Bakersfield real estate mogul David Crisp »Play Video
Former Bakersfield real estate mogul David Crisp speaks to Eyewitness News during a recent encounter in San Diego. (KBAK/KBFX photo)

FRESNO, Calif. (KBAK/KBFX) — The second principal in the Crisp & Cole Associates real estate fraud case will accept a plea deal.

A spokeswoman for the U.S. Attorney's Office in Fresno said Friday that former Bakersfield real estate mogul David Crisp will appear at a change of plea hearing Monday, along with his wife, Jennifer Crisp. Both are among 15 defendants in the long-running case.

David Crisp was slated for trial early next year.

The other main man behind Crisp & Cole Associates, Carl Cole, admitted guilt to conspiracy to commit mail, wire and bank fraud during a federal court hearing last month.

David Crisp and Cole were accused of scamming millions of dollars out of banks and mortgage companies between 2004 and 2007. They allegedly submitted fraudulent loan applications with material misrepresentations.

With the pleas from David and Jennifer Crisp, the only defendant still slated for trial is Julie Farmer, who started as a bookkeeper with Crisp & Cole Associates and eventually became operations manager.

David Crisp has agreed to plead guilty to conspiracy to commit mail, wire and bank fraud, according to a document filed Friday in court. Fifty-five other counts will be dismissed.

David Crisp plea agreement >>

Jennifer Crisp will plead guilty to mail and wire fraud. David Crisp's plea deal is contingent on his wife also pleading guilty, according to his agreement filed in court.

Jennifer Crisp plea agreement >>

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.