Crisp fails to file appeal, loses license
| Thursday, Oct 16 2008 01:36 AM
Last Updated Friday, Mar 27 2009 01:39 PM
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The state Department of Real Estate on Wednesday revoked the license of David Crisp, the once high-flying Bakersfield executive accused of mortgage fraud.
Based on a judgment rendered by the department on Sept. 24, the revocation became effective Wednesday when time ran out for Crisp to file an appeal.
Crisp could not be reached for comment late Wednesday.
Crisp’s former partner at Crisp & Cole Real Estate, Carl Cole, avoided losing his license for now by filing an appeal earlier this month of the department’s judgment. Cole was granted a 30-day stay while his request is considered.
In a 25-page complaint filed by the state last fall, Crisp and Cole were accused of misleading lenders in obtaining loans totaling more than $12 million.
Department spokesman Tom Pool said Crisp may reapply for his real estate license, but not for another three years.
“He could in the future at some date petition for reinstatement of his license, but the likelihood of it being granted is very slim,” Pool said. “He would have to show he has been rehabilitated and any deed he has been found guilty of he has fixed.
“For all intents and purposes, this is it.”
