California Feds Raid 13 Locations In Crisp & Cole Alleged Flipping Operation Investigation

In Bakersfield, California, KBAK-TV Channel 29 (and KBFX Channel 58) reports:

• "29 Eyewitness News has learned the FBI is raiding homes and businesses of the once prominent real estate duo Crisp & Cole.The FBI began raiding 13 locations about 7 a.m. this morning. Special Agent Steve Dupre works in the FBI office in Sacramento. He says the search warrants were served with the following agencies participating: Bakersfield Police Department, Kern County Sheriff's Department, the Internal Revenue Service, and the California Department of Real Estate. [...] Eyewitness News asked Dupre if 13 is an unusually high number of search warrants to be executed at one time for one investigation and he said yes, often times an investigation requires several warrants, but not usually as many as 13."

• "Today's raids come as the California Department of Real Estate [in a separate investigation] has a number of serious accusations against the once, high profile Bakersfield real estate team, Crisp & Cole. The DRE says it was an investigation, quote, "several months" in the making. The realtors could have their licenses suspended or even revoked."

The now-defunct Crisp & Cole real estate brokerage was once operated by partners David Crisp and Carl Cole.

Go here to watch today's KBAK-TV news report. To read the KBAK-TV online report, see Crisp & Coles businesses & homes raided by FBI.

To read the KGET-TV Channel 17 report, see FBI raids Crisp home and offices.

Go here for a review of the players and some of the properties involved in the alleged flipping operation.

Go here for other posts and links to stories on the Crisp & Cole alleged flipping operation.