The developer of Cedar Key Yacht Club Marina, a $14.5 million, 100 boat slip project near City Park and Cedar Cove at the end of 2nd Street, has received a partial summary judgment against Jerome D. Mitchell, who absconded with $1,445,000.
Early this year, Innovated Capital Club at Cedar Key, LLC, began asking escrow agent Jerome D. Mitchell to account for the boat slip deposits he collected.
“Jerome D. Mitchell, Esquire stipulated and admitted before this court, before the honorable Judge David A. Glant on June 11, 2009 that he did not have a Florida Bar escrow,” the Oct. 1 court order states. “He further stipulated that the $1,445,000 was deposited instead into an account he controlled…It is clear to this court that this…was civil theft by him with felonious intent.”
“The boat slips were priced at $125,000, $150,000 and $175,000 for the total price of $14,450,000 for 100 slips,” according to court documents.
According to the Web site www.ckycmarina.com, the project also included a restaurant on the water as well as townhomes.
Thirty-six of the slips have been sold, according to the site.
The toll-free contact phone number listed on the Web site redirects to a Daytona phone number that has been temporarily disconnected.
No permit has been filed with the city of Cedar Key for the project.
Arthur Skula filed for a marina permit with the Florida Department of Environmental Protection in Dec. 2007, but withdrew it in June 2008, according to the DEP office.
Skula is the manager for Global Marina, according to the Florida Department of State Division of Corporations. The registered agent for Global Marina is Jerome D. Mitchell.
Innovated Capital Club at Cedar Key, LLC, was administratively dissolved Sept. 25, 2009 due to failure to file its annual report with the Division of Corporations.
Mitchell was disbarred by the Supreme Court of Florida on July 2. “From about 2005 through Dec. 2007, Mitchell was a title issuing agent and closed numerous loans on behalf of the Attorneys’ Title Insurance Fund. In the course of conducting those transactions, Mitchell failed to remit approximately $25 million to satisfy existing mortgages and encumbrances,” according to The Florida Bar.