In Clearwater’s marketing and production world, Bluewater Media says it uncovered an inside job in its own C-suite: the company alleges its former chief financial officer quietly drained business accounts and walked off with more than $2 million, sparking a criminal investigation. Authorities have identified the ex-executive as 47-year-old Jeffery Crane, who, according to court filings and local reports, now faces money-laundering allegations and has already been booked into the Pinellas County jail. Company leaders told staff they have launched an internal audit and are cooperating with law enforcement while the probe plays out.
According to WTSP, Bluewater first spotted irregular transfers and questionable corporate-card charges, then referred the case to police. Investigators told the station they believe Crane used company cards for personal travel and adult-entertainment expenses. WTSP’s report, published Feb. 11, 2026, includes Bluewater’s statement and images tied to the investigation, and notes both Crane’s arrest and the involvement of local prosecutors.
Allegations, charges and the amount involved
Court records and reporting by the Tampa Bay Times put the alleged total at roughly $2.4 million, with money-laundering and related felony counts among the accusations. The Times reports that the transactions stretch across multiple years and involve several business entities tied to Bluewater. Prosecutors have not yet proved criminal intent in court, and Crane is presumed innocent until proven guilty.
Company response and where it happened
Bluewater’s public contact page lists its headquarters at Bluewater Media at 14375 Myerlake Circle in Clearwater. The company has told reporters it is conducting a broader internal review while continuing to work with investigators. Detectives described to reporters a pattern of corporate-card purchases and transfers that raised enough red flags to kick off the criminal inquiry, according to reporting by WTSP. The Pinellas County Sheriff’s Office has confirmed the case remains an active investigation and has referred detailed questions about the charges to prosecutors.
Legal next steps
Prosecutors will decide whether to pursue formal indictments after they review the investigative file and related bank records. Money-laundering and theft charges can bring serious prison time under Florida law, and defense attorneys in cases like this typically dig into pretrial discovery and may ask the court for specific bond or release conditions. Authorities say the investigation is still ongoing and have asked anyone with relevant information to contact the Pinellas County Sheriff’s Office.
Local context
This case lands amid a run of financial-crime investigations in Pinellas County, where prosecutors have been bringing cases against professionals and business operators accused of mishandling money. Local coverage has previously detailed a Pinellas Park attorney arrested on money-laundering and grand-theft charges, a reminder that alleged misappropriation of business or client funds can quickly escalate into a full-blown criminal probe, according to ABC Action News.
