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Politics

Bank investigating former candidate

Angelo Cappelli was fired as SunTrust Bank's trust adviser. Now, the bank is investigating.

By CARRIE WEIMAR
Published June 23, 2007

ST. PETERSBURG - A prominent St. Petersburg man who was edged out in a state House race last year is being investigated by his former employer, SunTrust Bank.

Angelo Cappelli, 37, was fired from his position as a trust adviser in the bank's St. Petersburg office earlier this week, said Susie Findell, a SunTrust spokeswoman.

Findell confirmed the bank was investigating Cappelli but said she could not discuss details.

Cappelli, who has been a trust adviser for SunTrust since 2003, did not return a telephone call seeking comment Friday.

Cappelli, a Republican, ran for the House District 52 seat in 2006. He was defeated in one of the most competitive state house races in Florida by Bill Heller, a Democrat and former University of South Florida St. Petersburg dean.

Cappelli recently has been reaching out to supporters about his political future and has been seen by some observers as a possible mayoral candidate to succeed Rick Baker.

This is not the first time Cappelli faced possible allegations of misconduct. In 2002, a client lodged a complaint against his broker license, alleging that Cappelli made bad investment recommendations. The complaint was resolved and Cappelli's company paid $46, 500. Cappelli said he admitted no culpability and said his company decided to settle - not him.

A Yale graduate, Cappelli has also served on the boards of several non-profit organizations, including St. Anthony's Hospital, the Arts Center of St. Petersburg and the Police Athletic League.

Carrie Weimar can be reached at 813 226-3416 or cweimar@sptimes.com

[Last modified June 23, 2007, 00:00:36]