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FORT MYERS: Five people, including the son of Cape Coral Police Chief Rob Petrovich, are taking plea deals on mortgage fraud charges. The five men made plea agreements with federal prosecutors to plead guilty to one count of conspiracy to commit bank fraud and wire fraud and one count of money laundering. The five men have been identified as Troy Bossert, Tyler Forrey, Ryan O'Brien, Stephen Petrovich and Steven Reese. Each defendant could face a maximum of 20 years in prison and a $250,000 fine. Federal investigators say Bossert, Forrey and Reese would find properties that were for sale by owner and then negotiate a purchase price on behalf of third-party buyers. According to the charges, they would have those third party buyers provide false information to lenders, including JP Morgan Chase, Bank United, Southpointe Financial Services and Georgia Banking Co., in order to get the loans. Prosecutors say Forrey and Bossert even created fake cashier's checks, bank statements and W2 forms to con the lenders. Companies controlled by the defendants would require those companies be paid at closing on the properties, and then funnel the money to themselves. The final act in the operation, according to prosecutors, is that the group would direct the third-party buyers to make three mortgage payments and then default on the loans. Court documents show Petrovich, who worked for the Cape Coral Police Department for 11 years, was among the third-party buyers. He was placed on administrative duty last September and resigned in November 2009. Cape Coral Police Chief Rob Petrovich says he is dealing with the situation from two perspectives – as a father and as a police chief. "I love my sonI'm going to love him unconditionally no matter what but when you love a child you have to understand too that as a law you are accountable for the things we do in our livesI'll be there in the ways that I can for him but the choices that people make, they have to deal with the consequences," said Petrovich. The police chief also wants Cape Coral residents to know the crime was not affiliated with the police department. Properties involved in the scheme, all in Cape Coral, and the defendants connected to each property are: 4923 SW 8th Court (Bossert) 5609 Del Rio Court (Bossert, Petrovich, Forrey, Reese) 5223 Stratford Court (Forrey, Petrovich, Reese) 130 SW 49th Street (Forrey, Reese) 5341 Cobalt Court (Bossert, Forrey) 2649 SW 29th Avenue (Bossert, O'Brien, Petrovich) 4311 Pelican Boulevard (Bossert, Forrey) 1414 NE 14th Avenue (O'Brien, Petrovich, Forrey) The total amount of the wire transfers for the properties listed above is $4,215,623.42. Click here for complete details on the property purchases wnad_52.load(); if (Worldnow.EventMan) Worldnow.EventMan.event('WNCol2done'); wnad_54.load(); if (Worldnow.EventMan) Worldnow.EventMan.event('WNCol23done'); wnad_43.load(); wnad_47.load(); Most Popular Stories Fort Myers Beach murder suspect caught on camera with her victim2018-04-16T22:34:56Z2018-04-16T22:34:56ZSuspected murderer Lois Riess was caught on camera with her latest victim on Fort Myers Beach. Two people identified in Estero double homicide2018-04-17T03:34:21Z2018-04-17T03:34:21ZArea residents say they heard a flurry of shots overnight near the scene of a death investigation that started Tuesday morning. Murder investigation underway in Lehigh Acres By David Belleville Digital Content Producer2018-04-16T22:19:41Z2018-04-16T22:19:41ZA man repeatedly stabbed two of his long-time family friends, killing one and significantly injuring the other, in Lehigh Acres on Saturday, deputies said. 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