Public Information Officer Debra Johnson told local St. Johns County reporters with Historic City News that a Flagler Beach developer was arrested yesterday morning on charges of grand theft in excess of $100,000 in connection with a fraudulent real estate purchase.
John Boback Sr., 51, of Springdale Drive, Flagler Beach is charged with taking $410,000 from a Marco Island man in the sale of a condominium on property at 4366 North Oceanshore Boulevard. Although Boback received the money, the man who purchased the condo received only a deed for the unit. The structure was never built. He was booked into the Flagler County Inmate Facility Tuesday and later released after posting $50,000 on the charge.
In October 2009, South Florida resident Patrick Lyons, 55, told investigators between August and December of 2006, he paid Boback for a condominium unit that was to be part of a professional complex on A1A.
Lyons said when he realized the property had not been developed; Boback would not refund his money. The property is presently in foreclosure.
Cpl. Nate Flach, a detective with the Flagler County Sheriff’s Office, led the grand theft investigation. He said Boback was planning to develop the property under the name of Hammock Cove Development, LLC. His plans were to construct a medical condominium called Hammock Medical and Professional Center Condominium Association, Inc.
“He never turned a shovel of dirt,” Flach said.
Investigators tracking the Lyons’ money concluded that between August 2006 and February 2007, $335,000 of Lyons’ funds was deposited to Bova Construction. Boback was the signature of authority on the bank accounts of Hammock Cove Development and Bova Construction. Portions of Lyons’ funds also were distributed in payments to subcontractors working on other projects for Boback’s construction firm
The facets of this type of investigation are intricate and time consuming and Cpl. Flach has done an excellent job in putting the pieces together. We aren’t done. This investigation is ongoing,” said Flagler County Sheriff Donald W. Fleming.
Anyone who thinks they may have been a victimized by Mr. Boback is asked to contact Cpl. Flach at (386) 313-4329.