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A former Crisp & Cole Real Estate employee who owes more than $4.2 million in outstanding mortgage payments and other unpaid bills filed bankruptcy last week, court records show.
Zane Richards, a former office worker for the now-defunct real estate firm, filed Chapter 7 bankruptcy seeking forgiveness of a mound of debt, including unpaid property taxes, credit card bills and utilities charges.
Richards declined to comment on the filing, but one of his lawyers, Fresno-based Carl Faller, said his client’s situation was similar to that of several others who became involved with the Crisp & Cole agency, which is now the subject of a federal investigation.
“What’s happened to him was, basically, collateral damages from the business practices Crisp & Cole were engaged in,” Faller said. Read the whole story.
So what do you guys think? Does Richards' financial trouble fit the definition of "collateral damage"?
--Vanessa Gregory, staff...
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