A 40-year-old Santa Rosa County man is facing a mountain of federal charges after a grand jury returned an indictment involving bank fraud and the mishandling of labor union finances.
Clarence Penny, a resident of Pace, appeared in a Pensacola federal courtroom on February 12, 2026, to answer to a twelve-count indictment that could potentially see him spend the rest of his life behind bars if convicted on all fronts.
The charges, announced by U.S. Attorney John P. Heekin, paint a complex picture of financial misconduct. Penny is specifically charged with eight counts of bank fraud, one count of embezzling funds from a labor union, and three counts of filing false labor union reports…