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Regulators' case against Crisp, Cole to continue
| Friday, Jun 20 2008 5:39 PM
Last Updated: Monday, Jun 23 2008 7:14 AM
State regulators will proceed with their case against Bakersfield real estate executives David Crisp and Carl Cole after a settlement conference Friday in Los Angeles failed to resolve accusations against the pair.
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David Crisp and Carl Cole
A supervising judge not directly involved in the case said the case remains scheduled to begin July 28 in Bakersfield.
The state Department of Real Estate filed a 25-page complaint against Crisp, Cole and three of their former employees, alleging various deceits including falsification of documents on more than $12 million worth of loans. If found guilty, Crisp and Cole could lose their real estate licenses.
While she was unable to comment on Friday’s confidential settlement talks, presiding administrative law Judge Janis Rovner said the fact that the case is still scheduled suggests Crisp and Cole are still expected to defend themselves against the charges.
Rovner confirmed that Crisp and Cole attended Friday’s proceedings.
A spokesman for the Department of Real Estate said he had no information on what took place in court Friday.
Crisp and Cole could not be reached for comment Friday.
The FBI is also investigating the two. Federal agents raided 13 addresses connected to Crisp and Cole in Bakersfield last September, but have not announced any charges against the pair.