According to federal court records, the guilty plea stems from fraudulent statements Roberts made between 2008 and 2010 to draw hundreds of thousands of dollars from a $5 million loan he and fellow Southaven developer James M. Harris received to develop Cherry Hill subdivision near Rasco and Swinnea roads.
Seventeen different fraudulent statements were made by Roberts to obtain checks on the loan. Most of the documents indicate Roberts did it under the guise of money needed for drainage improvements in the subdivision.
Also indicted in the case is Harris, Roberts' co-developer. The court says Harris and Roberts were partners in a company called R & H Holdings, and that Harris owned a company called M & H Construction that R & H Holdings contracted with to develop Cherry Hill subdivision.
The indictment states Harris and Roberts co-conspired using falsified documents to bilk Citizens National Bank out of nearly $450,000, and allegedly tried to cover it up saying the money was needed for drainage improvements. Some of those improvements had already been paid for by the city of Southaven.
Roberts, who will be sentenced in federal court in the next 60-90 days, is facing up to 30 years in prison and $1 million in fines.
Roberts, a close friend of Southaven Mayor Greg Davis, was most recently was the public address announcer for Tigers men's basketball games at the FedExForum.
Harris is slated for trial in federal court March 4 in Aberdeen, Miss.
FOX13 News reporter Tom Dees contributed to this report