Clearwater marketing exec accused of stealing more than $800K from own firm, records show

CLEARWATER, FLA. - Pinellas County court records now accuse the company’s former chief financial officer of stealing more than $800,000 from his own employer.

Following a viewer’s news tip to FOX 13 about financial concerns inside one of Clearwater’s best-known marketing firms, Jeff Crane, 47, who worked as chief financial officer of Bluewater Media in Clearwater, faces charges of first-degree felony money laundering, second-degree felony money laundering, first-degree felony scheme to defraud and criminal use of personal identification information. He was arrested on February 5th. 

What we know:

According to a criminal complaint filed by Largo Police, the investigation began after suspicious credit card charges were flagged. Detectives reviewed bank statements, credit card records and other financial documents.

The warrant states that the amount of funds that were fraudulently stolen by Crane was identified as approximately $823,366.57. The alleged scheme occurred between his hiring date in March 2022 and August 2025.

Investigators write that the spending included 'high-end restaurants, hotels, flights, limousine services, and adult entertainment establishments.'

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The complaint alleges Crane transferred company funds into accounts he controlled, including an account in the name of J. Kreel LLC, a "boutique investment firm" that Crane is listed as owning. On December 9, 2024, detectives allege that he transferred $300,000 from one of Bluewater’s accounts without authorization.

Court documents also state that investigators identified five ACH transfers totaling nearly $1.28 million from a JPMorgan Chase account to an American Express account in the name of another company.

The warrant further alleges that Crane accessed a VyStar Credit Union account in the name of Zaney Foods Inc. without permission. Investigators state he transferred $19,100 and that the transaction "was not for Bluewater business."

According to the complaint, Bluewater executives told investigators on August 18, 2025, Crane admitted to stealing from the company. The document states Crane told executives he had "a $10,000 a day narcotics habit" and that it was "part of the reason he began to steal from Bluewater."

Dig deeper:

According to its website, Bluewater Media is a 'brand-focused direct-to-consumer advertising agency' operating from a 36,000-square-foot production studio in Clearwater. The company has roughly 150 employees and in 2015 was named the second-fastest growing company in the state of Florida and an Inc. 500 Company.

In a statement to FOX 13, the agency claimed the total financial impact of the alleged misconduct was $2.4 million, significantly higher than the approximately $823,366 outlined in court records. The company stated it does not believe Crane acted alone in the alleged scheme.

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Addressing employee concerns, Bluewater said there was "no payroll interruption other than the CEO forgoing pay until full discovery was complete," and while a 401(k) transition did not go as smoothly as it should, employee funds were still safe.

Bluewater founder and CEO Andy Latimer described the situation as "a profound betrayal of the trust placed in (Crane)," adding that "no client funds were ever involved or at risk at any point."

The company said Crane was immediately terminated upon discovery of the alleged misconduct and that it is cooperating fully with authorities.

What's next:

FOX 13 News has reached out to Crane directly and to his attorney for comment on the matter. So far, those requests have gone unanswered. 

Crane is scheduled for a felony advisory hearing Thursday at 1:30 p.m. in Courtroom 7 at the Pinellas County Justice Center. An arraignment is set for March 9 at 1:30 p.m. before Judge Keith Meyer.