Another Crisp & Cole defendant sentenced in federal court
FRESNO, Calif. (KBAK/KBFX) Another defendant in the massive Crisp & Cole Associates real estate fraud case has been sentenced.
Jeriel Salinas was sentenced Monday to 19 months in prison.
Crisp & Cole Associates scammed tens of millions of dollars out of banks and mortgage companies between 2004 and 2007. They used straw buyers, submitting fraudulent loan applications with material misrepresentations.
The case totaled 15 defendants, including principals David Crisp and Carl Cole. They both were sentenced him to 17 1/2 years in prison after guilty pleas for conspiracy to commit mail, wire and bank fraud.
Salinas pleaded guilty last fall to one count of conspiracy to commit mail fraud, wire fraud and bank fraud.
He knowingly purchased at least six properties as a straw buyer in Bakersfield and Shaver Lake, according to prosecutors. Salinas served as the real estate broker and received commissions for some of the fraudulent transactions.
Salinas was allowed to self-surrender to begin serving the sentence on July 14.