Deputies arrest Destin businessman for swindling partner out of $555K real estate deal

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DESTIN, Fla. (WKRG) — The Okaloosa County Sherriff’s Office says Timothy Lynn Henderson, 57, is facing two counts of fraud after a business partner said Henderson did not pay him properly for a real estate sale.

In an OCSO report, the victim in the case said Henderson agreed to pay him 40 percent of the net sale, as well as the construction and purchase cost of a home on Indian Trail. The victim said they entered the arrangement in 2017 where the victim would pay for the costs so Henderson’s company, Henderson Development and Design would do the work.

The victim told OCSO Henderson did not inform him about the sale of the Indian Trail home on Jan. 20, 2017, for $555,000. The victim said Henderson sent $49,000 from the sale, instead of the expected $485,000.

According to the report, the victim and Henderson had a similar arrangement for a second property on Indian Trail. The victim said they transferred that property into their name to prevent Henderson from selling it and not paying as well.

The OCSO deputy on the case said in December of 2021 Henderson did not cooperate in giving proof of the arrangement, citing his lawyer had the documentation and could not be contacted.

The deputy said he gave Henderson multiple chances to work with law enforcement before OCSO took him into custody Jan. 5, 2021.

Henderson is facing two counts of organized fraud of more than $50,000. He has been released on bond.

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