October 07, 2007

Is Little Boy David Crisp the new Charles Ponzi? Crisp & Cole now tied to 94 properties in default and $59 million in mortgage loans gone kaput


Gotta love a good Ponzi Scheme. Gotta love a good swindle. Gotta love a good snake oil salesman, promoted by the snake oil company (
the NAR). And gotta love it when out of control bankers lend millions to a little shoe shine boy during the greatest financial mania in recorded human history. David Crisp was simply Casey Serin with a much bigger credit line.

And we all know how this one ends....

Here's what the monkey-run NAR had to say about David Crisp in 2005 in their glowing "30 under 30" feature:


Bling is the thing: Crisp insists that his salespeople wear professional attire and be well-groomed. He buys luxury automobiles for his salespeople and has flown clients in private jets to view properties. “Image is key in this market,” he says. “Clients want to feel important and be with a real estate professional who’s successful.”

And of course, here's the report today, which is starting to read more like a police blotter:

On Sept. 10, the Department of Real Estate issued a complaint against Crisp, Cole and three employees, charging them with deceiving lenders to take out $12 million in home loans.

On Sept. 12, FBI and IRS agents searched 13 homes and offices related to the former Crisp & Cole Real Estate firm. Warrants were sealed, but a list belonging to a law enforcement officer listed bank records, appraisal documents and business and financial documents among items to be seized. San Joaquin Appraisals, owned by Kirk “Mark” Newton, was also searched.

As of the third week in September, Crisp, Cole, their companies, family members, employees and associates have defaulted on at least 94 properties. Payments are late on $58.76 million worth of home loans.

But don't forget the NAR's overarching message in this rags to riches to rags to orange jumpsuits story: BLING IS THE THING!!!

27 comments:

Anonymous said...

They will have to deal w/ a different thing when they are in gen. pop.

AuAgPb said...

This Ponzi Scheme is so out of control, a jail sentence won't be sufficient. We need a body. A headless body.

Anonymous said...

David Crisp was simply Casey Serin with a much bigger credit line.



EXACTLY!

Anonymous said...

His A$$ is going to be A$$aulted in CELL BLOCK "D" as in DOUCHE BAG.

Anonymous said...

"30 under 30"? 30 under 30 years-to-life is more like it.

Gotta love the Mom's name also... Tu Crisp.


From the NAR pages:
-------------------------
This article was published on: 06/01/2005

Feature: 30 under 30

BY BARBARA BALLINGER, HALEY HWANG, SARAH KLEIN, CHUCK PAUSTIAN, KELLY QUIGLEY, ELYSE UMLAUF-GARNEAU, CHRISTOPHER WRIGHT

Success on their own terms

Energetic. Enthusiastic. Entrepreneurial. These are among the defining characteristics of this year’s class of 30 REALTORS® under 30 who are making their mark on the industry. REALTOR® Magazine’s editors pored over more than 500 applications, selecting candidates based on their passion for the business, their professional achievements, and their innovative business techniques. This year’s fresh faces come from different parts of the country, have different backgrounds, and focus on different niches, but they share a desire to control their destiny and measure success on their own terms, whether that’s by maximizing their sales potential or enjoying the freedom to pursue other interests, including time with family and friends.

In the profiles that follow, you’ll gain insight into how these impressive young stars built their business: They share their strategies and secrets for marketing, team building, negotiating, and more. You’ll also learn of the benefits they derive from volunteering for both professional and community organizations. Their energy and ideas will help invigorate and shape the industry in the years ahead. And no matter where you are in your career, some of their tips may help you breathe new life into your business.

David M. Crisp 25 president, Crisp & Cole Real Estate, Bakersfield, Calif., www.theagentsyouwant.com
In four years, Crisp has gone from waiting tables to being president of his own real estate company, which he launched this year. He’s also opened his own loan company and production outfit, which creates the 30-minute television shows he uses to promote his listings. Crisp’s team, which includes seven unlicensed assistants and eight sales associates, was responsible for $95 million in sales and 355 transactions in 2004. Crisp attributes his success in part to his partnership with Carl Cole, CRS®, GRI, whom he met when both were working as salespeople at Kyle Carter Real Estate. “He believed in me from day one,” Crisp says of his partner, who is 22 years his senior, “I wouldn’t be where I am without him.”
Bling is the thing: Crisp insists that his salespeople wear professional attire and be well-groomed. He buys luxury automobiles for his salespeople and has flown clients in private jets to view properties. “Image is key in this market,” he says. “Clients want to feel important and be with a real estate professional who’s successful.”
Sky-high goals: One of Crisp’s long-term goals is to build Crisp and Cole Tower, a 12-story, 500-unit condominium building. He also wants to fund the construction of a new building for his church.

-----------------------------------
I'm looking forward to the 2010 "30 Under 30: Where Are They Now?". This is the intro to this years:
-----------------------------------
Blast from the past
30 Under 30: Where Are They Now?

Past winners show they haven’t stopped learning, growing, and taking on new challenges.

BY BARBARA BALLINGER

Six years ago, REALTOR® Magazine named its first class of “30 Under 30” to recognize emerging stars of real estate business and to inspire all practitioners, rookies and veterans alike, to succeed. This year we decided to catch up with past winners to see how their professional and personal lives have changed since their stories appeared in the magazine.

What we found was impressive: these go-getting real estate professionals are as passionate about their work and as committed to their values as when they were named to the list. They’re eager to take on new opportunities and quick to find solutions to the challenges they face, whether it’s finding time to spend with family or dealing with a market slowdown.

Here, we bring you up to date on what more than a dozen of our past winners are doing today, and deliver take-away tips on how you can find success in your work and life. We hope that their ambition, energy, and joie de vivre will inspire you once again.

Anonymous said...

It would be interesting to investigate the other REALTORS (TM) on the 30-under-30 lists. How many have criminal records and how many have legal preceedings currently against them?

Save a house, ride a realtor said...

What a bunch of crooks.Talk about white collar losers.We will all pay for this crap in one way or another.POS should be getting pounded by casey serin in a 6*10 cell. Bakersfield sure in the hell doesn't need another bunch of losers wondering their streets.How many realtors due they have?How many realtors does it take to sell a home?Can we complicate the process anymore?

Bitterrenter said...

What do you people expect from young men brought up in the republican cheating culture? They know the rewards for breaking the rules are huge so are willing to cheat, lie and steal to get their piece of that "good life" the republicans always talk about. The "ownership society", available to those willing to screw over their fellow man for a buck.

It's all part of the "get as much as you can, all that you can and don't give a second thought to how you got it" mentality that the republicans promote in the greed-based culture they've created.

Conservatism is a disease. Republicans are carriers of that disease and should be treated like you would any disease carrying organism. Eradication.

Anonymous said...

HA HA HA fool me once shame on you fool me twice shame on me. All those red faced bank exec's should not bother to prosecute. They did it falling for his slick self promotion and their I wish I was like him at his age attitude. He only did what they allowed him to do. So why is everyone so mad at him, with white collar crime so prominent in our society and nothing more than a hand slap (look at the perps WHITE MEN) you all should be having a hoot on this one, you're just mad it wasn't one of you. Look at that plane and car, come on you know you wish it was in your driveway. HA HA HA HA

Anonymous said...

There is no difference between the willingness of Republicans or Democrats to use government to advance the economic interests of their buddies. The economic system we live under is called Mercantilism, not Capitalism. Mercantilism was the old system in England where the government basically did favors for established economic interests and the politicians got paid for this. That's what we have today. Another term for what we have is Fascist Socialism. This has resulted, mainly from the misinterpretation of the "interstate commerce clause" of the constitution. This was intended, by the Founding Fathers, to merely prevent the states from interfering with commerce between the states. One of the problems under the Articles of Confederation, was the state often taxed or forbade items of trade from other states, practicing Mercantilism within each state. The purpose of the interstate commerce clause was to allow the federal government to prevent this. Unfortunately, after two or three generations this clause was reinterpreted to allow the federal government to have much more "hands on" regulation...leading to congressmen selling their services to lobbyists...Mercantilism! A great way for senators and congressmen to get rich and have great jobs for their family and themselves. A good reason to support Ron Paul, who would return this country to the original interpretation of the constitution, with severely limited powers of congress and the courts, and an honest money system backed by real money, gold. I, personally, suspect we need to scrap the constitution and go back to the Articles of Confederation and try again. Of course, today, we'd probably created a totally fascist federal government instead of a very limited one.

Keyser Soze said...

Will Crisp be a pitcher or catcher in his new life? Gawd, I still hate baseball analogies.

Anonymous said...

attn BITTER RENTER...

dude, lay of your college marxist club propaganda.

The country was founded by conservatives = small, limited government, and maximum personal freedoms.

AS the nation has moved radically LEFT in the 20th Century, things have gotten wrecked.

Now we have the biggest Govt in the history of the worlkd, 10trillion in debt, 51% of the country sucking the Gubmint Teet.

Bush-Clinton-Bush-Clinton = CFR

Not DEM OR REP, BUT CFR.

Bill Clinton signed NAFTA and that turned the tide and sealed the fate of America.

Ross Perot called it, a giant sucking sound of job losses and the 1st generation of Americans to have a lower standard of living than their parents.

You think Hitlery or Obama care about you or me. F no.

They are all CFR.

but not Ron Paul.

Vote Ron Paul.

Anonymous said...

Bitter REnter,

Again, your Hillbitch lives in a $7,000,000 house in Westchester, not to mention the digs in DC.

talk about fat pig greed, for a biatch who never had a private sector job in her entire life.

She made that money off of corruption and fraud.

so go suck her teets, and stay a Socialist Sheeple.

Anonymous said...

.


Gonna have to start flying coach and drive a toyota!




.

Anonymous said...

.



Is douce bag one or two words?




.

Bitterrenter said...

Small government countries are associated with the third world and corruption. Large governments are associated with first world, progress, equality and fairness.
Keep believing in your conservative diseases.

Anonymous said...

anyone want to bet he gets nothing more than a slap on the hand and a very small fine?

It will make me sick, but I am sure that is what will happen.

Anonymous said...

bitter idiot,

Your Marxist heroes fidel castro and and kim jong il are billionaire gluttons who run the most corrupt coutries in the world. Get a real job and get a life. You ivory tower Khmer Rouge theories don't work in the real world.

former neighbor said...

if hillery lives in a 7 million dollar house she used govt money and bought a 250,000 dollar house and govt cola adjustments that included the costs of taxes, insurance, health care,and inflation and cause the taxes to go up on her neighbors by a figure of times 50, and will get the govt to pay that cost of living adjustment, and buy the neighbor hood from her distressed neighbors..........

Hillary said...

Stop saying mean things about me!

Anonymous said...

I love how people try to simplistically blame this on republicans. Greed is universal.

What about all those lovely liberals in Marin that don't want affordable housing?

Bitterrenter said...

Greed may be a human trait we all have, but republicans turned it into a virtue. They cultivate it, encourage it, relish it.

They're filthy savages.

And remember, your worst democrat is better than your best republican.

bryce in canada (Vncvr&Clgry bubbls) said...

A politician is a politician is a politician.

Left = Right, Right = Left, Repub = Dem, Dem = Repub, Lib = Conserv, Conserv = Lib.

USA, Canada, UK, Australia, etc etc: all of them are Plutocracies. This will never change. The upper 5% always run the other 95% -- this is true under capitalism, communism, royalty, and tribes. Nothing has changed in 2 million years, nor will it ever chaneg in the next 2 million years.

Anyone who thinks it makes the slightest bit of difference which party or which candidate wins or is in charge is preposterously naive. It makes no difference. Anyone who proudly supports any party or proudly opposes any party is a certifiable meathead. The brand loyalty is no different than between brands of deodorant, i.e., between utterly indistinguishable producst.

Bitterrenter said...

Yeah, there's no difference in the parties and things are just like they were 2 million years ago.

if it wasn't for liberals and the political changes they made you would still be shitting outdoors and paying some feudal Lord for the right to do so.

People like you don't deserve rights or anything more than a life of slavery. I guess your prison of ignorance will have to suffice.

bryce in canada (Vncvr&Clgry bubbls) said...

RE:
Bitterrenter said...
Yeah, there's no difference....
---------------------------------
Nice. Someone who praises liberals and simultaneously says that I "don't deserve rights" and instead deserve "a life of slavery" because either or both of (a) I'm ignorant and (b) he/she disagrees with me.

Of course he/she missed the point: which was (a) that politicians are all alike, and, more importantly, (b) that the upper 5% control the other 95%. Instead he/she pointed to the temporary period of feudalism, which has come and gone.

Human nature, however, remains. Unchanged.

BitterRenter said...

Bryce, you have a small intellect.

If feudalism came and went then how come you still believe the top 5% do and always will control the bottom 95%?

If you're Canadian you're probably too spoiled by liberal policies to even know the difference.

bryce in canada (Vncvr&Clgry bubbls) said...

Feudalism:
work the land and maintain the land and get some of the land's revenues in exchange for (i) being allowed to live on the land and (ii) being available for military service for the land owner.

That is not the current system in case you hadn't noticed.

Current system:
- nobody can afford to run for public office unless they have piles and piles of money
- thus we have a plutocracy, i.e., government by the wealthy
- money is power
- 95+% of us have to work for a wage; 5%- of us do not

Current system is better than either feudalism or communism or what some like to call democratic socialism. Each of (a) democracy and (b) capitalism are better than all of the alternatives ever tried.

But what hasn't changed in 2 million years is that both political and economic power get concentrated into a top-5%-ish elite, and that power is abused. Power corrupts; we are all the same in that regard.

I agree that many of Canada's policies are too liberal.