for immediate release
May 21, 2001

N E W S   R E L E A S E

A former Destin businessman has been arrested after a lengthy investigation into fraudulent loans. John Bruce Haslett, age 55 (6-17-45), surrendered himself at the Okaloosa County Jail in Crestview today (Monday). He had been sought since February on a warrant naming him on three felony counts of Fraud Involving a Secured Interest.

Haslett, in business from late 1998 until early this year as "Destin Harbor Yachts," had obtained a half million dollar line of credit "floor plan" to purchase boats for resale. The boats would be security on the loan, which was to be repaid as individual boats were resold.

An investigation by the Okaloosa County Sheriff's Office determined some boats were sold without repayment being made against the loan. In addition, some of the vessels were also used as collateral for a second loan through a local bank; the bank was not informed of the pre-existing security interest.

Haslett, who left northwest Florida early this year, returned voluntarily after he was located an contacted by Okaloosa County Sheriff's Investigator Bob Grappone.

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for more information contact Rick Hord, Public Information Officer

(850) 651-7420

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