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Trump commutes 40-year sentence of Clearwater Ponzi scheme operator
Fred Davis Clark Jr. raised more than $300 million from investors, including for Clearwaterâs Grand Venezia on U.S. 19. He was released from prison on Jan. 13.
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Cay Clubs Resorts & Marinas CEO Dave Clark shown in 2006 at the groundbreaking of Grand Venezia resort at 18425 U.S. Highway 19 N in Clearwater that was a Ponzi scheme. He was sentenced to 40 years in prison in 2016 but his sentence was commuted by President Trump on Jan. 13. [ HANDOUT | Times | 2016 ]
Updated Jan. 20
Before an expected final flurry of pardons and commutations from the White House, President Donald Trump issued a single commutation last week to the mastermind of a $300 million vacation rental fraud that operated in Clearwater and 16 other sites.