Latest news with #StevenTompkins
Yahoo
a day ago
- Business
- Yahoo
Sheriff charged with extorting $50,000 from marijuana business in Boston
Suffolk County Sheriff Steven Tompkins was arrested Thursday on federal extortion charges, according to the U.S. Attorney's Office for the District of Massachusetts. Federal prosecutors allege the 67-year-old Massachusetts sheriff had pressured a cannabis company executive for a secret investment deal worth $50,000. Tompkins, who had led the Suffolk County Sheriff's Department since 2013 and oversaw about 1,000 employees, was arrested in Florida and charged with two counts of extortion, the U.S. attorney's office said. According to federal court documents, Tompkins had used his position as sheriff to force his way into buying pre-IPO (initial public offering) stock in a Boston cannabis company at a discounted price. When the investment later lost value, prosecutors alleged he demanded and received a full refund of his money. The scheme started in 2019 when the cannabis company, which wasn't named in court documents, wanted to open a store in Boston, the indictment stated. The company needed Sheriff Tompkins' help, according to the indictment, as his department would refer former inmates to work at the store, which was required by the Massachusetts Cannabis Control Commission for their state license. MORE: DOJ issues subpoenas to NY AG Letitia James, including over Trump civil fraud case: Sources Federal investigators said Tompkins allegedly took advantage of this partnership. According to the indictment, he pressured a company executive, reminding them that he had helped with their license application. The executive feared Tompkins would end their partnership if they didn't give in to his demands for stock, prosecutors said. After getting the shares in November 2020, court documents showed Tompkins initially saw his $50,000 investment grow to about $138,000 when the company went public. However, when the stock price later fell, prosecutors alleged Tompkins demanded his money back. The executive paid him through five separate checks, with some labeled as "loan repayment" to hide what the payments were really for, according to the indictment. The executive agreed to the demands for repayment, fearing Tompkins would use his position to harm their business operations, according to the indictment. "What the Sheriff saw as an easy way to make a quick buck on the sly is clear cut corruption under federal law," FBI Boston Division Special Agent in Charge Ted E. Docks said in a statement. If found guilty, Tompkins could face up to 20 years in prison, three years of supervised release, and a $250,000 fine, according to the U.S. attorney's office. U.S. Attorney Leah B. Foley said in a statement that the case showed her office's commitment to fighting public corruption. "Elected officials, particularly those in law enforcement, are expected to be ethical, honest and law abiding – not self-serving," Foley said in the press release. According to federal officials, Tompkins will first appear in court in Florida before facing the charges in Boston at a later date. ABC News reached out to Tompkins' attorney who did not immediately respond for comment. The Suffolk County Sheriff's Department declined to comment when contacted.
Toronto Star
a day ago
- Toronto Star
Massachusetts sheriff arrested on charges of pressuring cannabis company over stock purchase
BOSTON (AP) — A sheriff in one of Massachusetts' largest counties was charged Friday with allegedly pressuring a Boston-based cannabis firm to sell him stock in the company. Sheriff Steven Tompkins, 67, who oversees about 1,000 employees in the Suffolk County Sheriff's Department, is facing two counts of extortion. He was taken into custody in Florida and had his first appearance there. He will appear in Boston federal court later.
Washington Post
a day ago
- Washington Post
Massachusetts sheriff arrested on charges of pressuring cannabis company to over stock purchase
BOSTON — A sheriff in one of Massachusetts' largest counties was charged Friday with allegedly pressuring a Boston-based cannabis firm to sell him stock in the company. Sheriff Steven Tompkins, 67, who oversees about 1,000 employees in the Suffolk County Sheriff's Department, is facing two counts of extortion. He was taken into custody in Florida and had his first appearance there. He will appear in Boston federal court later.
Fox News
a day ago
- Fox News
Boston-area sheriff accused of extortion
Suffolk County Sheriff Steven Tompkins is charged with two counts of extortion in relation to prior dealings with a cannabis dispensary. (Credit: WFXT)
Fox News
a day ago
- Business
- Fox News
Kash Patel slams ‘corrupt' sanctuary sheriff indicted for cannabis company extortion
Boston's sanctuary sheriff was arrested Friday on federal charges after allegedly leveraging his elected position to extort $50,000 from a cannabis executive who was seeking state approval to open a dispensary—a scheme FBI Director Kash Patel called a betrayal of public trust. Suffolk County Sheriff Steven Tompkins, 67, who oversees more than 1,000 employees in the Boston-area, was handcuffed Friday morning in the Southern District of Florida after a federal grand jury indicted him on two counts of extortion under color of official right, according to a statement from the U.S. Attorney's Office for the District of Massachusetts. "When someone entrusted with enforcing the law is accused of breaking it for personal gain, it undermines the public's trust in every honest officer who wears the badge," Patel told Fox News Digital. "The FBI will pursue corruption at every level, because no one is above the law. The people of Suffolk County, and the country, deserve leaders who serve them, not themselves." Tompkins was appointed sheriff of the Suffolk County Sheriff's Department (SCSD) in 2013, elected in a 2014 special election, and later re-elected to serve successive six-year terms. He made headlines in 2019 after booting Immigration and Customs Enforcement (ICE) agents out of the county jail, signing an eviction notice that required hundreds of illegal immigrant detainees to be moved out within 60 days, according to a report from the Boston Herald. According to court documents, a cannabis company applied in 2019 for a retail dispensary license in Boston through the Massachusetts Cannabis Control Commission (CCC). To meet the state's Positive Impact Plan (PIP) requirement, the company partnered with the sheriff's department, which agreed to screen and refer graduates from its re-entry program for work at the dispensary's retail store. The company's partnership with SCSD was formalized in a letter signed by Tompkins in 2019 and submitted with its dispensary license application in 2020. The cannabis commission approved the license in 2021 and renewed it in 2022 and 2023, with the company citing the partnership to meet the PIP requirement in each application. To raise capital for an initial public offering (IPO) and expand as a publicly traded company, executives sought multimillion-dollar investments from institutions and other high-net-worth investors—not the general public, according to court documents. By mid-2020, the company was preparing for its IPO by producing audited financial statements, hiring attorneys and obtaining additional financing. Prosecutors allege Tompkins pressured the cannabis executive for stock, reminding the executive he had helped the company in its licensing efforts. The executive feared Tompkins might exploit his position as sheriff to undermine the partnership with the department, putting both the license and the company's planned IPO in jeopardy. In October 2020, the company asked Tompkins for an updated partnership letter to submit with its license renewal application, according to court documents. Within a month of signing the letter, and after alleged pressure on the executive, Tompkins obtained a pre-IPO stake in the company. Prosecutors claim that in November 2020, Tompkins wired $50,000 from his retirement account to an account controlled by the executive, purchasing nearly 29,000 shares at $1.73 each. Following a reverse stock split, he held about 14,400 shares valued at $3.46 each. Once the company launched its IPO in 2021, the stock value jumped to $9.60 per share, increasing the value of Tompkins' $50,000 purchase of 14,417 shares to $138,403. By May 2022, the value of Tompkins' stock had dropped thousands of dollars below his $50,000 investment, but he allegedly demanded a full refund. The executive agreed, issuing five checks between May 2022 and July 2023. Prosecutors claim some checks were marked as "loan repayment" and "[company] expense" at Tompkins's direction to disguise the nature of some of the payments. U.S. Attorney Leah Foley wrote in a statement that elected officials, particularly those in law enforcement, are expected to be ethical, honest and law-abiding, "not self-serving." "His alleged actions are an affront to the voters and taxpayers who elected him to his position, and the many dedicated and honest public servants at the Suffolk County Sheriff's Department. The people of Suffolk County deserve better," Foley wrote. "Public corruption remains a top priority for my administration, and we will continue to investigate and prosecute anyone who uses their position of trust and power for their own gain." FBI Boston special agent in charge Ted Docks added the act was "clear-cut corruption." "From his very first day as Suffolk County Sheriff, Steven Tompkins sought to portray himself as a man of the people–a principled public servant and reformer, devoted to the cause of justice. That's why it's beyond disappointing that he's now accused of gaming a system instituted in the interests of public safety and fair play," Docks wrote in a statement. "We believe what the Sheriff saw as an easy way to make a quick buck on the sly is clear-cut corruption under federal law. The citizens of Suffolk County deserve better, not a man who is accused of trading on his position to bankroll his own political and financial future. Public servants must be held to the highest of ethical standards, and those falling short will be rooted out." Tompkins, who faces a sentence of up to 20 years in prison for each count, will appear in Boston federal court at a later date.
