Developer previously convicted of fraud

Carlos Yepes admitted to lying in the Key Bank scandal.

By CAMILLE C. SPENCER, Times Staff Writer
Published November 13, 2007

PORT RICHEY - The Pinellas Park developer who wants to build a commercial marina on Miller's Bayou pleaded guilty to bank fraud in 1992 for his role in one of Tampa Bay's more notorious scandals.

Carlos Yepes of Bellair Development Group and business partner Robert F. Guzzo admitted in federal court that they lied to obtain a major bank loan in 1987, according to a Times story.

As part of what became known as the Key Bank scandal, Yepes and Guzzo were accused of acquiring about $10-million worth of bay area properties by falsifying their incomes, assets and land values. The two men overstated their incomes on 1986 tax returns to Southeast Bank -Yepes by $379,435 and Guzzo by $51,372, the story said.

State and federal agents seized 11 properties worth about $10-million from the two men - including five convenience stores, a nine-screen movie theater and a consumer electronics store - and accused them of bank fraud.

Yepes was sentenced to a year of probation for the bank fraud charges, and Guzzo to two years.

Yepes, 48, plans to approach the City Council about developing the 300 slip marina during tonight's meeting at 7:30 p.m. at City Hall, 6333 Ridge Road.

Preliminary plans submitted to city officials this month by Yepes' attorney, Glenn Goldberg, include a boat ramp and storage facility on the property just north of Old Post Road and west of Waterfront Park.

Yepes is currently working on a 68-unit condominium project at Snell Isla Plaza in St. Petersburg.

Neither Yepes nor Goldberg returned calls seeking comment Monday.

In an interview last week, Goldberg said the land on Miller's Bayou is ideal for a marina.

"The people want it, and the city realizes it's necessary," he said. "It's overlooked ... this is the perfect spot."

Dale Massad, a council member, said he isn't concerned about Yepes' background. Massad said he wants to hear Yepes' presentation before drawing any conclusions.

"I don't let those things affect me too much, but I think the project they're bringing is something our city has to look at really carefully," he said Monday. "It would change the entire ambience of the city."

[Last modified November 12, 2007, 21:35:11]