David Crisp sentenced to over 17 years for role in Crisp & Cole mortgage fraud

Jennifer Crisp sentenced to 5 years probation

FRESNO, Calif. - It has been six years since federal investigators cracked down on a Bakersfield real estate office for mortgage fraud.

The husband and wife team of David and Jennifer Crisp were sentenced Monday for their roles in orchestrating the nearly $30 million fraud.

Jennifer and David entered the federal courthouse in Fresno with family members along side. 

David started crying as he pleaded with the judge for a shorter sentence Monday morning, but he was sentenced 17.5 years in prison, the same as Carl Cole.

Jennifer Crisp was sentenced to 5 years probation. The judge called it a "break of a lifetime." She was accused of acting as a straw buyer for the company. 

"I thought it was just," said Gary Huss, a defense attorney for Jennifer Crisp.

According to court documents and co-defendants David Crisp, Carl Cole, Jennifer Crisp and others created a scheme to defraud mortgage loan companies and lending institutions from January 2004 through September 2007. 

Investigators said the Crisps, along with their partner Carl Cole bought and sold properties at inflated prices, skimming the home's equity each time.

The scheme cost lenders $30 million.

Both pleaded guilty in 2013.

David Crisp was charged with 56 counts of mail, wire, bank fraud and conspiracy to launder money.

Jennifer Crisp was charged with 11 counts of mail, wire, bank fraud and conspiracy to launder money.

The judge added that if Jennifer commits any violations during her probation, he wouldn't hesistate to send her to prison. 

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