Grand jury says St. Pete man cheated banks in Carrollwood condo project

A St. Petersburg salesman is at least the sixth person to face federal charges in connection with a condo conversion project that floundered as the real estate bubble burst.

A federal grand jury indicated Gary Blankenship on charges of conspiracy, wire fraud and bank fraud for his role in efforts to convert The Arbors in Carrollwood from rental apartments to condos in 2008.

Blankenship, who was a sales consultant at DMB Real Estate Group, marketed and sold condo units at The Arbors to buyers as… …read more