Crispy at the Bakersfield Bubble Blog has the story on David Crisp and Carl Cole. These two have pulled a Casey with extra digits. So far the local paper has managed to identify $41.3 million in outstanding loans. This does not include the IRS liens. The truly amazing part of this sordid tale is all the people who bought the lies for so long. 4 years ago David Crisp was packing UPS trucks. After his first real estate deal he bought a Corvette. It was fake til you make it from there on. Now the Stae, Feds, Cal University system, municipalities, taxpayers, banks and just about everybody are set to pay their bills. This is a classic example of the failure of the fourth estate. Too many pages of real estate advertising and not enough journalists. Thanks go out to the BB for doing the job.
Updates: In 2006 the Bakersfield Californian ran a fauning 3 page puff piece about David Crisp. The letters to the editor excoriated them at that time and the editor replied:
Executive Editor Mike Jenner: Our profile of Crisp didn't lionize him. It also didn't consume three pages of space.
This was a story of a driven young man who has enjoyed success at an early age. Readers are fascinated by such stories.
They also enjoy stories about ordinary people doing good things for their communities. We publish many more of those than we do stories about young entrepreneurs.
Somebody needs to make a banner for their newsroom. More links:
http://www.msnbc.msn.com/id/19838911/
http://www.bakersfield.com/102/story/56414.html
http://www.kget.com/news/local/story.aspx?content_id=DE7DE529-12A4-4183-91D7-D42074D9E4E2
http://tinyurl.com/28nk7m%0D (audio interview)
21 comments:
First!-- Casey is a cockroach and I called the Sacramento FBI office to lodge an extensive verbal as well as written complaint about this cockroach--you should too!
Wake up sleepy heads!
Let me be the first to say that know we know how much money a person must steal before the gubbermint gives a rat's ass. The correct answer is $41.3 million. The financial meltdown of California will be fun to watch.
Do you have any idea how much income newspapers make from real estate? Do you think they would actually bother checking out these folks?
Newspapers are facing serious trouble. Not only from Craigslist doing a better and cheaper job of classified, but also from people who get their news on the Internet. Blogs, even with all of the crap on them, are becoming a better more reliable source of information than the traditional media. On this particular case I have to say
Good job Bakersfieldbubble.blogspot.com
After all of the gloating and disgusting materialism this Crisp displayed I can think of no richer reward. Oh my how the papers just positively swoooooned over his rocket to real estate stardom story. Well, as fast as ye crest the heights, so the faster shall ye fall.
Maybe they can get this University development deal completed - that should bail them out. Just like Circus Circus!
Don't leave Carl Cole out of this. He had to know what was going on. People like John Lockwood, Greg Swann, Crisp & Cole, and so many others have caused this nation great harm with their practices. Not just the illegal ones but also their contribution to pumping the real estate bubble and then lying to cover up their complicity and conflicts of interest. There's lots of good real estaters out there but their voices of reason just don't combat the venom the low lifes spew forth.
That Greg Swann could always talk a good line of bullshit. Even if you absolutely knew even HE couldn't buy what he was saying, he still carried it off pretty effortlessly.
I basically bailed on Keith from HP when he became a total drama queen and tried to bait Greg into a flamewar. Greg didn't take the bait. And he successfully made Keith look like a complete ass in the process. I'm surprised these guys have the balls to carry on while the world comes crashing down around them. There's something to be said for that. But deep down I know they lie awake at night. And that knowledge helps me sleep better. That and the unspeakable amount of pleasure I take in low-balling desperate realtors.
Dawg, what do you know about John Lockwood?
I honestly think that when we come out the backside of this there's going to be 1/3rd to 1/4th as many RE Agents as there are now. We are always going to need agents just like we still have a place for travel agents but the NAR priesthood cult bit is going fast. I can only hope It is the good guys that survive like Jim the Realtor but I'm not so deluded that I don't also know that lying scum like Swann will also manage to continue to suck the lifeblood from their victims. Does that sound harsh? Maybe so but I tend to hold a grudge against people who call me a Brownshirt Nazi.
Sac RE,
John has a small problem with freedom of speech and telling the truth and putting words in other peoples mouths and civility. Ask him why he doesn't report on $/sf anymore. John knows what's happening to the Sac market particularly the outlying communities but keeps the information from his clients. Maybe not a breach of professional ethics but it stinks of hypocrisy coming from someone who claims to be a practicing Buddist.
Actually Rob it was practically one year ago that that post and the resulting pounding of Greg Swann place.
Man he really is full of shit.
Interesting Rob. I actually did a deal with John last year. I was the listing agent. He represented an investor. Deal was pretty smooth.
I'll have to check out his blog again. Haven't looked at it in six+ months. But someone did post a link to one of his agents at his new brokerage. Her blog was not too flattering for agents. That's for sure.
I've got no idea why someone wouldn't answer questions about $sf. But I do know that you cannot compare $sf of a huge house with $sf of a smaller house. That would be a meaningless comparison. You've got to compare apples to apples.
I have no opinion of John's business conduct. My experiences have to do with his reaction to legitimate criticism and his talking up the Sac market.
Agreed that $/sf acroos individual houses is at best misleading but aggregated for neighborhoods or zip codes it can tell you a lot.
@ TK,
I can not believe you found that POS writing by Greg Swan Dive. It is the post that inspired my tongue in cheek handle!
FMW
Thanks for the memories.
tee he
@ TK,
PS. Just re read the whole thing.
Mish, Mort aka Edgar and Robert Cote' aka Alpha Dawg all posted in the Greg Swan Pounding! So much fun to read and laugh!
Yes, TK. Thanks for the memories. I shall put up an anniversary posting in honor of the events of last year. Time dlies as do monkey warriors.
Thanks Rob and others for the positive comments.
I think our usually overzealous DA (google "Lords of Bakersfield") has been asleep at the wheel on this one.
Hopefully, he will wake up and realize that someone has just screwed over a $hit load of people,.
New post at IAFF...
I’ve been in contact with a group that helps borrowers fight predatory lenders. They review your mortgage documents and look for any Truth-in-Lending violations and any other red flags. Then there is an option to sue the lender and sometimes even get your mortgage forgiven. This company also has a network of qualified real estate attorneys to help take these cases into the courts on a low cost or contingency basis.
I didn’t have much desire to go this route before because I figure, what the use? I was about to lose everything in foreclosure and I just wanted a way to sell those houses and be done with it. But I was always interested in the idea behind it. I was going to talk about this company on my blog before in order to help homeowners who may have been taken advantage of, but never got a chance to do it, since it wasn’t something I needed at the time.
However, NOW things have changed a bit. There is a very good reason for me to have my mortgage documents looked at by an expert. We’ll see what he says… Hopefully I’ll get an answer back by the end of the week.
It looks like someone wants to play Let's Make A Deal.
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