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Date of Issue: March 01, 2009

FBI agents search Island properties

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Search location in the 2200 block of Gulf Drive, Bradenton Beach. Islander Photo: Jo Ann Meilner
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Doyle S Elliott

FBI agents executed search warrants at two Anna Maria Island properties Feb. 25.

One property was in the 500 block of Key Royale Drive in Holmes Beach and another in the 2200 block of Gulf Drive North in Bradenton Beach.

An FBI spokesman declined to discuss the nature of the investigation, which originated from the agency’s field office in Newark, N.J., and was coordinated with agents in Tampa.

“I’m not specific on the locations, but we did execute some search warrants in Florida,” said Bryan Travers, a spokesman with the FBI in Newark. “And that’s about all I can tell you.”

Travers said the agency was not investigating an alleged violent crime, but declined to elaborate on the nature of the case.

Holmes Beach Police Department officers assisted at the Key Royale property, which according to the Manatee County Property Appraiser Web site is owned by Doyle Scott Elliott.

Elliott purchased the property, a single-family home, in 2004 for $1.335 million, according to the Manatee County Property Appraisers Web site.

Elliott, according to an Internet records search, was barred from associating with any National Association of Securities Dealers member in any capacity. “The sanction was based on findings that Elliott received $35,000 from a public customer to purchase a low-priced stock in collaboration with Elliott, and was told that the stock would be sold at a profit within 30 days, and that they would split the profit,” according to a NASD record.

The NASD record from March 2004 further said, “The findings also stated that Elliott failed to use the customer’s funds, and sent him fictitious trade confirmations purporting to confirm sell transactions from the customer’s account at Elliott’s member firm although he did not have an account at the firm and none of the transactions occurred. NASD also found that Elliott failed to respond to NASD requests to appear for an on-the-record interview.”

The NASD was a self-regulatory organization of the securities industry responsible for the operation and regulation of the Nasdaq stock market and over-the-counter markets. It also administrated exams for investment professionals before it was replaced by the Financial Industry Regulatory Authority.

Yellow tape was used to keep the curious away from the Key Royale residence. Motorists who passed by slowed to inquire about the reason for the law enforcement presence.

“Yellow tape? That’s never good,” said Kevin Stockdale as he bicycled past the large home on the warm Wednesday afternoon.

Elliott also is connected to the Bradenton Beach property that agents searched while a Bradenton Beach Police Department officer stood watch outside.

The office is the site of Elliott & Associates, a management consulting service.

Islander calls to the consulting service went to a voice messaging system and were not returned.