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Thursday, Feb 17 2011 05:29 PM

Last Crisp & Cole defendant released pending trial

BY COURTENAY EDELHART, Californian staff writer cedelhart@bakersfield.com

Jayson Costa, one of 10 people connected to Crisp & Cole Real Estate facing federal prosecution for allegedly engaging in mortgage fraud, was released on bail Thursday following a hearing in Fresno.

Now all the suspects are free pending trial. Former Realtor David Crisp, the only other suspect who remained in custody after federal indictments were unsealed last month, was ordered released from custody Wednesday.

Costa, a former loan officer for the company's financing arm, appeared before Judge Sandra Snyder in U.S. District Court in Fresno on Thursday. She released him into the custody of a girlfriend who lives in Bakersfield.

Conditions for Costa's release were a $5,000 cash bond, which was put up by his brother; maintaining employment (he now works at a gas station); adhering to a 9 p.m. to 6 a.m. curfew; and participating in a drug/alcohol dependency program, according to a U.S. Attorney's office spokeswoman.

Ten people connected to Crisp & Cole, including principals Crisp and Carl Cole, have been charged with fraud, money-laundering and conspiracy, and five others have accepted plea deals for fraud and aiding and abetting.

Costa and nine other people connected to Crisp & Cole have been charged with fraud, money-laundering and conspiracy. All have pleaded not guilty to the charges.

Five others connected to the now-defunct firm have accepted plea deals for fraud and aiding and abetting.

The suspects are accused of using straw buyers to purchase homes and flip them at inflated prices.

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