Published: Jul 06, 2010 11:43 PM EDT
Updated: Jul 06, 2010 8:43 PM EDT

Fort Myers, Fla - Former Cape Coral Police officer Stephen Petrovich will serve 24 months in prison for real estate fraud.

in March, Petrovich pled guilty to bank and wire fraud as well as money laundering.

The charges stem from a $4.2 million dollar mortgage fraud scheme in Cape Cora.

On Tuesday afternoon, Petrovich appeared before a federal judge to pay for the crime.

He will serve two years behind bars and have pay $1.3 million dollars in restitution.

Petrovich has 30 days to surrender and begin his sentence.

He told the judge there is no excuse for his behavior and he is ready to accept accountability.

His father, former Cape Coral Police Chief Rob Petrovich was also in the courtroom.

He told the judge that this behavior is not in his son's character, but agreed justice needs to be served.

After serving two years in prison, Stephen Petrovich will be on two years probation.

Because he used to be a cop and his father was police chief, Stephen Petrovich has asked he serve his sentence in Pensacola for safety reasons.