A real estate investment broker who was on the Irvine Planning Commission until last month is accused by a longtime friend, a married couple, and a father and son of cheating them out of $1.75 million.
The allegations against Irvine resident David R. Sparks, 50, and his Irvine-based firm Sparks Realty & Investment Inc. center around his soliciting and accepting money to buy, rehab and then sell distressed homes for profit.
Screenshot of Irvine-based Sparks Realty & Investment Inc. website at sparksrealtyinc.comBRIAN MARTINEZ, THE ORANGE COUNTY REGISTERMarc Vaccaro and Astrid Vanzon, a Wisconsin couple suing Sparks in federal court for at least $1.6 million in losses, accuse Sparks of forging bank and government documents, using nonexistent escrow companies and otherwise committing "massive fraud."
He repeatedly reported profits on the purchases and sales of several homes in California and Utah that he never purchased or sold – and then failed to return the money when demanded, the suit alleges.
Sparks failed to respond to the suit in U.S. District Court in Santa Ana and the couple is seeking a default judgment.
While Sparks declined to comment on the federal lawsuit, he did talk about a lawsuit his friend of 22 years, Robert Edwin Anslow of Santa Ana, filed against him in Orange County Superior Court two months ago.
"I don't dispute that I owe him money," Sparks told the Register. When asked why he hasn't paid Anslow, he answered, "That's a good question." He said he's currently in "special negotiations" with a "mutual friend" to try to settle with Anslow.
Anslow provided $200,00 to Sparks in 2007 for him to use toward the purchase, rehab and sale of a $700,000 home at 1048 Laurel Fig Drive in Simi Valley, according to court records.
Court records show Sparks reported to Anslow that he purchased the property in 2007 and then sold it in 2008 for $910,000. After allocating $64,000 in profit to Anslow, Sparks talked him into reinvesting all of the money as an unsecured loan to Sparks for future investing, the lawsuit says.
Anslow later sought his money in accordance with the written agreement. After pressuring Sparks, he got back $100,000. Sparks defaulted on the other $100,000, as well as the interest and profit.
A search of public databases did not show any record that the five-bedroom home at 1048 Laurel Fig Drive in Simi Valley was purchased or sold by anyone in 2007 or 2008.
The Register asked Sparks if he or one of his entities had purchased or sold that home on Laurel Fig Drive in Simi Valley. He said he'd have to check into how that deal was "structured" and get back to us. He later declined to comment.
Sparks missed the deadline to respond in court, and Anslow is seeking a default judgment.
"He has put me in an extremely precarious financial situation," Anslow said.
Those involved with Sparks say he was easy to trust. He flew to Wisconsin and personally met with the married couple to pitch his investment opportunities.
"He talked about his religious faith, and shared values in a Christian tradition, which added to (their) belief in defendant's trustworthiness," their federal lawsuit says.
The "About Dave" section of Sparks Realty's website says he is "honest and full of integrity" and "active in his church."
Sparks is a member of the Mormon church.
He's "a face-to-face guy" who is so cheery and nice that "you let your guard down around him," said Gary Schultz of Huntington Beach. He comes across like "Mr. Rogers," but he is the "worst of the worst," Schultz added.
Schultz told the Register he and his father, Gerhard Schultz of Yorba Linda, gave Sparks a combined $52,500 toward the purchase of three homes in the San Francisco area. Schultz said he knew Sparks from when they attended Westminster High School together.
Schultz owns Huntington Beach Cruisers bike shop and said Sparks came in one day with his wife and daughters to buy a cruiser.
"I was so grateful for what he was doing for me (with the investment) that I gave him a bike," Schultz said.
The failed investment attempt has strained Schultz' marriage and extended family, he said.
Public records show Sparks is president of several other business entities, including Nevada-based Wellington Grant Ltd., which is named as a defendant in the federal lawsuit.
Irvine City Councilman Steven Choi appointed Sparks to Irvine's Planning Commission in December 2008. Sparks resigned his post on the panel on Feb. 8 of this year.
His letter to the city said the decision came "after careful consideration" and "discussions" with Choi, but it did not specify a reason for resigning. Sparks told the Register he resigned because his upcoming travel schedule was going to force him to miss three meetings in a row.
Contact the writer: bmartinez@ocregister.com or 714-796-7955
Screenshot of Irvine-based Sparks Realty & Investment Inc. website at sparksrealtyinc.comBRIAN MARTINEZ, THE ORANGE COUNTY REGISTERA real estate investment broker who was on the Irvine Planning Commission until last month is accused by a longtime friend, a married couple, and a father and son of cheating them out of $1.75 million.
The allegations against Irvine resident David R. Sparks, 50, and his Irvine-based firm Sparks Realty & Investment Inc. center around his soliciting and accepting money to buy, rehab and then sell distressed homes for profit.
Marc Vaccaro and Astrid Vanzon, a Wisconsin couple suing Sparks in federal court for at least $1.6 million in losses, accuse Sparks of forging bank and government documents, using nonexistent escrow companies and otherwise committing "massive fraud."
A real estate investment broker who was on the Irvine Planning Commission until last month is accused by a longtime friend, a married couple, and a father and son of cheating them out of $1.75 million.
The allegations against Irvine resident David R. Sparks, 50, and his Irvine-based firm Sparks Realty & Investment Inc. center around his soliciting and accepting money to buy, rehab and then sell distressed homes for profit.
Marc Vaccaro and Astrid Vanzon, a Wisconsin couple suing Sparks in federal court for at least $1.6 million in losses, accuse Sparks of forging bank and government documents, using nonexistent escrow companies and otherwise committing "massive fraud."
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