'Fiscal predator' Crisp sentenced in real estate fraud case

'Fiscal predator' Crisp sentenced in real estate fraud case »Play Video
Having previously pleaded guilty in a Bakersfield real estate fraud case, Jennifer and David Crisp walk Monday, March 31, 2014, up to the federal courthouse in Fresno, Calif., for their sentencing. (KBAK/KBFX photo/Jonathan Gonzalez)

FRESNO, Calif. (KBAK/KBFX) — A husband and wife were sentenced Monday in federal court in Fresno for playing key roles in a headline-grabbing Bakersfield real estate fraud case.

"My pride is gone," a weeping David Crisp of the defunct Crisp & Cole Associates told the judge before his sentencing. "I want to get through this to right my wrongs."

Former real estate mogul David Crisp and his partner, Carl Cole, scammed tens of millions of dollars out of banks and mortgage companies between 2004 and 2007. They submitted fraudulent loan applications with material misrepresentations.

The judge called David Crisp a "fiscal predator" as he sentenced him to 17½ years in prison. He was immediately taken into custody of federal officials.

David Crisp had pleaded guilty in December to conspiracy to commit mail, wire and bank fraud. Fifty-five other federal counts were dismissed as part of his deal with prosecutors.

Wife Jennifer Crisp also took a plea deal, admitting guilt to mail and wire fraud. She was given five years probation as the judge said he couldn't leave the couple's 10-year-old son with both parents in prison.

"If there is one violation, I will sentence you to five years in prison, probably double," the judge told Jennifer Crisp, who he called "mentally ill" or "naive" to stay with David Crisp.

She, in return, told the court that she stayed with her husband because she forgave him.

The long-running case tallied 15 defendants, including partner Cole, who also took a plea deal and was sentenced in February to 17½ years in prison.

Cole's adult son, Caleb Cole, was also pulled into the scheme, sentenced in a plea deal to six months in prison.

All defendants but Julie Farmer have taken plea deals. She's slated for trial.