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Starting around 2001, Whibbs began soliticiting investments for [[Asbury Place (Gulf Breeze)|Asbury Place]], a Gulf Breeze Alzheimer care facility, by convincing potential investors it was actually the existing [[Asbury Place (Pensacola)|Pensacola facility]] of the same name. When [[Stephen Solice]], a fellow partner in the Gulf Breeze facility, noticed one of their business accounts had no money, he contacted Whibbs, who transferred $489,000 from his law firm's trust accounts.
Whibbs was able to conceal the misappropriations because only he and his wife [[Elizabeth Whibbs|Elizabeth]] had access to the trust accounts. Ffirm Firm member [[Michael Rayboun]] recommended hiring a new bookkeeper, [[Christine Bilbrey]], but was instructed by Vinnie to "keep her out of the books."<ref name="sentenced"/> When Bilbrey discovered the plundered trust accounts in December 2004, Whibbs blamed his wife and fired her from the firm. Later, Bilbrey's office "was ransacked," she testified. "Everything pertaining to the banking and accounting was stolen out of my office."<ref name="sentenced"/>
Another $500,000 went missing in 2005. [[Donovan Whibbs]] confronted his father, who again tried to blame poor bookkeeping before admitting he had invested the money in Asbury Place. The firm's shareholders were promised that Whibbs "was going to make it immediately terminated Vince, removed him from all right" and replaced of the missing money from personal bank accounts , hired an independent accountant, and began replinishing the funds that Vince stole. Michael Rayboun reported Vince to the Florida Bar in December, 2005, which led to the prosecution that resulted in the prison term that Vince is currently serving. The Bar conducted a full audit of the firmand found that none of the attorneys, other than Vince, had participated in, or even known about Vince's operating revenuecriminal conduct.<ref name="sentenced"/>
When Whibbs failed to return a $150,000 investment made by [[Dan and Roberta Peppler]], the couple contacted the State Attorney's Office, which began the investigation that revealed the scope of Whibbs's wrongdoings.
On [[October 5]], [[2006]] Whibbs was disbarred by the Florida Supreme Court for five years and charged with two counts of grand theft of over $100,000 and another charge of mortgage fraud. On [[May 7]], [[2007]], felony racketeering was added to the charges.<ref>"Whibbs faces fourth charge." ''Pensacola News Journal'', May 8, 2007.</ref>
Whibbs pleaded no contest on [[July 3]]. On [[August 17]], he was sentenced to four years in state prison by [[1st Circuit Court|Circuit Court]] Judge [[Jan Shackelford]]. Witnesses for the prosecution at the sentencing hearing included Christine Bilbrey and Michael Rayboun. Whibbs's attorney, [[Barry Beroset]], indicated he had no plans to appeal.<ref name="sentenced">"Whibbs Jr. sentenced." ''Pensacola News Journal'', August 18, 2007.</ref>
==References==