Industry News

Florida real estate pros plead guilty in flipping scheme

Four others indicted in multimillion-dollar case

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Three people accused of operating a multimillion-dollar mortgage-fraud scheme in Florida pleaded guilty to criminal charges Friday, the same day a federal grand jury indicted four others in the case, the Florida Herald Today reported. In a federal courtroom in Tampa, Fla., Todd A. Kolbe, Kirk McVey and Amy Samelson Kolbe – all of Sarasota County – each pleaded guilty to one count of conspiracy to commit mail and wire fraud, media reports said. Todd Kolbe also pleaded guilty to a bank fraud conspiracy charge in an unrelated case, reports said. The pleas were part of deals reached with prosecutors, according to the Herald Today. Each count carries a possible sentence of five years in prison and/or a $250,000 fine, although prosecutors agreed to recommend sentences at the low end of sentencing guidelines, media reports said. The defendants also agreed to testify against others, including four who were indicted Friday: Mary Bolan, 45, a Bradenton real estate agent; Taya Pa...