02
Feb
Crisp & Cole Real Estate Agent Off to Prison for Mortgage Fraud
Robinson Dinh Nguyen, formerly a real estate agent with the defunct and disgraced Crisp & Cole Associates, has been sentenced to prison for 21 months and ordered to pay $433,000 in restitution. The California Department of Real Estate (DRE) revoked his license in 2008.
In his guilty plea, Nguyen, 31, admitted that he had conspired with others to submit fraudulent loan documentation and used straw buyers in order to obtain mortgage loans from financial institutions (mortgage fraud, loan fraud).?Many were 100% loans and others were refis, the purpose of which was to skim equity and then let the homes fall into foreclosure. The lenders, of course, lost millions.
The defendants who have already pleaded guilty are?Kevin Sluga,?Crisp & Cole?s CPA; Jerald Teixeira and Christopher Stovall, former loan officers for Tower Lending; Megan Balod; and Leslie Sluga. Those defendants still awaiting trial are David Marshall Crisp, Carlyle Lee Cole, Julie Dianne Farmer, Sneha Ramesh Mohammadi, Jayson Peter Costa, Jeriel Salinas, Michael Angelo Munoz, Jennifer Anne Crisp, and Caleb Lee Cole.
Read the original article in the Central Valley Business Times.
Source: http://www.californiarealestatefraudreport.com/archives/3192
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