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Irvine Ex-Commissioner David Sparks Plead Guilty to Fraud

By Elite Home Sales Team

Real Estate Agent with Elite Home Sales Team OC BRE# 02066030

July 24, 2011 11:32 AM

Irvine Ex-Commissioner David Sparks Plead Guilty to Fraud

The former Irvine Planning Commissioner plead guilty to fraud. David R. Sparks and Irvine broker and former planning commissioner for the city of Irvine who was charged with running a Ponzi scheme that bilked $4.3 million from 34 friends. With friends like that ...! On Wednesday he plead guilty to felony interstate wire fraud.

Brokers that are so out of whack as Mr Sparks give all of us in real estate a bad name. The U.S. Attorney will recommend that Sparks receive no more than five years, three months, jail time.

The case evolved around Sparks transferred $500,000 from Westpoint Bank in Wisconsin to Commerce Bank in Fullerton and an additional 1 million from Johnson Bank in Wisconsin. He was claiming to buy and rehab foreclosed homes. He did not purchase any homes. He forged bank documents used nonexistent escrow companies, provided bogus status updates and falsely reported significant profits.

Overall this Broker just tried to lie his way through collection of moneys from his friends and kept it for himself.

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Kwee Huset

Kwee Huset Realty - Venice, FL

Venice Florida Homes For Sale

It is sad to see greedy people in authority without conscience cheating others - how could you do that to a friend?

Jul 25, 2011 04:25 AM

Harrison K. Long

HomeSmart, Evergreen Realty - Irvine, CA

REALTOR , GRI, Broker associate, Attorney

Mark and Tim ... Mr. Sparks has been prosecuted for his illegal actions and has and will pay the price.

Jul 25, 2011 04:59 AM

Bristol Restoration

Bristol Restoration - Santa Clarita, CA

Bristol Restoration

This is unfortunate. Thanks for the post about it.

Jul 25, 2011 10:50 AM

Elite Home Sales Team

Elite Home Sales Team OC - Corona del Mar, CA

A Tenacious and Skilled Real Estate Team

Kwee

It is absolutely sad.

Jul 25, 2011 06:15 PM

Elite Home Sales Team

Elite Home Sales Team OC - Corona del Mar, CA

A Tenacious and Skilled Real Estate Team

Harrison

Usually it is not just the individual that pays the price. His family, friends, and coworkers also pay a price.

Jul 25, 2011 06:17 PM

Elite Home Sales Team

Elite Home Sales Team OC - Corona del Mar, CA

A Tenacious and Skilled Real Estate Team

Savannah

It is unfortunate.

Jul 25, 2011 06:17 PM

Karen Hawkins, MBA - Langley & Surrey, BC

Royal Pro Real Estate Network - Langley, BC

Yikes - glad he was caught! Definitely gives brokers a bad name!

Jul 25, 2011 07:59 PM

Elite Home Sales Team

Elite Home Sales Team OC - Corona del Mar, CA

A Tenacious and Skilled Real Estate Team

Yikes is exactly what I was thinking.

Jul 26, 2011 07:44 PM

Carla Freund

Keller Williams Preferred Realty - Raleigh, NC

NC Real Estate Transition & Relocation 919-602-848

Hard to believe he got away with it for that long. What will he do next?

Jul 28, 2011 12:48 AM

Kristine Ginsberg

Elite Staging and Redesign, LLC - Short Hills, NJ

NJ Home Stager

If he could do that to his own friends, imagine what he'd do to his enemies?! And of course he got off easy like most white collar criminals - with good behavior, he'll be out of jail in 9 months or only get community service. In my opinion a criminal is a criminal regardless of the color of their "collar"!

Jul 28, 2011 03:16 AM

Elite Home Sales Team

Elite Home Sales Team OC - Corona del Mar, CA

A Tenacious and Skilled Real Estate Team

Carla

It is difficult to think that someone would get away with it that long and with friends.

Jul 29, 2011 03:21 AM

Elite Home Sales Team

Elite Home Sales Team OC - Corona del Mar, CA

A Tenacious and Skilled Real Estate Team

Kristine

Sounds like you are my kind of person.

Jul 29, 2011 03:22 AM

Todd Clark - Retired

eXp Realty LLC - Tigard, OR

Principle Broker Oregon

I'm not sure that is long enough for that guy, as you stated it gives us all a bad name and if he just gets a slap on the wrist like that, the public will remember.

Jul 30, 2011 05:25 PM

Elite Home Sales Team

Elite Home Sales Team OC - Corona del Mar, CA

A Tenacious and Skilled Real Estate Team

It is ridiculous that we cannot put someone away for their crimes in this country.

Jul 30, 2011 07:46 PM

Anonymous

Sparks family distant but still family

Not only did he do this to friends but also family. Disappointing that someone you trust and invite to your home for the holidays can so easily steal from you. Then while you are feeding his family a holiday dinner - how does one lie and try and steal even more money with false promises while your young kids are sitting at the same table- (stealing from their futures) Luckily we started asking questions and demanding to see our money. We never did but the lack of response stopped us from investing more.

Oct 04, 2011 03:57 PM

#19

Elite Home Sales Team

Elite Home Sales Team OC - Corona del Mar, CA

A Tenacious and Skilled Real Estate Team

Sparks Family

Sorry to hear the disappointment and pain you must feel.

Oct 04, 2011 06:22 PM

Anonymous

Irvine Real Estate Agent

It's a really bad news for the brokers, because he gives them a bad name.

Nov 01, 2011 06:49 AM

#21

Elite Home Sales Team

Elite Home Sales Team OC - Corona del Mar, CA

A Tenacious and Skilled Real Estate Team

It is true that they do give brokers a bad name.

Nov 01, 2011 06:57 AM

Anonymous

leonard

Hi Leonard,

A quick heads up to let you know one of the checks issued to you will be returned to you. We had to put a stop payment on the the checks because I didn't get the funds in for Wellington Grant, I sincerely apologize.

David Sparks

Hi Leonard,

I have been praying for you and your niece and your continued relationship with Jesus, along with your AA efforts. God bless you!How are you doing? Will you feel up to lunch or breakfast anytime soon?

David Sparks

Thank God he is prayer for because he took my money and lied about everthing..

Dec 02, 2011 05:09 AM

#23

Elite Home Sales Team

Elite Home Sales Team OC - Corona del Mar, CA

A Tenacious and Skilled Real Estate Team

David

Not sure who you meant this for but I hope you got the message to them.

Dec 07, 2011 04:35 AM