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SARASOTA — Onetime Sarasota Realtor Richard Bobka has admitted to his role in a widespread real estate flipping fraud case. Bobka pleaded guilty to federal charges Feb. 10 for his role in the mortgage fraud scheme that authorities say encompassed 22 residential properties in Sarasota and more than $47.5 million in loans.
Bobka initially pleaded not guilty, but he switched his plea four days into the trial.
Bobka is the 16th of 19 defendants in the case to plead guilty. He faces up to 30 years in prison.
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