ASHEVILLE – A once-celebrated local entrepreneur who lost his state real estate license for bilking short term vacation rental owners is now set to plead guilty to up to $3.5 million in federal bank fraud.

Shawn Thomas Johnson, 36, is expected to admit guilt March 25 in United States District Court in Asheville to one count of bank fraud, according to a plea agreement filed this month. The maximum sentence is 30 years with a $1 million fine. It is not clear what punishment Johnson would face. A separate sentencing hearing could come in about six months, according to current case trends.

On March 21 Johnson did not respond to a message seeking comment and his attorney, Thomas Amburgey, who was reached by phone declined to talk about the case.

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