Former Planning Commissioner Cops Plea To A Property Ponzi
David R. Sparks, described in news reports as “a charming man and talented liar,” has pleaded guilty in Southern California to bilking investors out of $4.8 million, the Orange County Register reported. Sparks, 50, was a real estate broker who once served as a member of the Irvine Planning Commission. He was charged with soliciting money from friends and relatives, claiming to buy, rehabilitate, and flip houses that were in actuality never purchased. Prosecutors said Sparks was using most of the money to satisfy past debts he incurred in real estate ventures. They are recommending that he spend a maximum of five years and three months in jail, The Register said.