Sarasota business tried fraud to rake in over $4 million in CARES Act funds, cops say
A Sarasota business took in most of $319,000 in federal CARES Act relief money fraudulently, according to the Sarasota County Sheriff’s Office, and it had applied for over $4.1 million more.
CARES Act money was distributed to local governments in 2020, including $75 million that was allocated to Sarasota County. Governments in turn distributed a portion of the funds to businesses that showed a need due to the novel coronavirus pandemic.
SRQ Financial Solutions, LLC took advantage of the system by charging clients $150 apiece to file an application for relief funds, according to the sheriff’s office. Employees of SRQ Financial then falsified financial statements on behalf of their clients in order to qualify for the relief money, detectives found. The business also took a 20% cut of any funds released to a client by the county.
County employees caught on to some of the suspicious applications and alerted the sheriff’s office in November. Detectives began scouring applications and identified 114 that had been fraudulently submitted by SRQ Financial.
The investigation came to a head last week when arrest warrants were obtained for eight people who the sheriff’s office says were involved in SRQ Financial’s fraud operation. Four of the individuals are charged with scheme to defraud more than $50,000, and the other four are charged with theft and perjury, according to the sheriff’s office.
Those facing charges are:
Peria Rhodes, 33, of Sarasota is charged with scheme to defraud;
Raelyn Tillman, 30, of Port Charlotte is charged with scheme to defraud;
Maria Bradley, 40, of Sarasota is charged with scheme to defraud;
Demetris “Nikki” Sheppard, 38, of Sarasota is charged with scheme to defraud;
William Rhodes, 57, of Sarasota is charged with theft and perjury;
Shaneice Rhodes, 32, of Sarasota is charged with theft and perjury;
Shaquaya Cooper, 25, of Bradenton is charged with theft and perjury;
Eddie Yarn, 38, of Bradenton is charged with theft and perjury.
“This was a complex and lengthy investigation that our detectives handled professionally and thoroughly,” Sarasota Sheriff Kurt A. Hoffman said in a statement. “In cases that involve white-collar crime and fraud, there are a lot of moving parts, financial statements to review, and fact-checking.
“I applaud our Criminal Investigations Section for making this case a priority to prevent the fraudulent release of more funds to these criminals. It is through partnerships with local government and other agencies that the sheriff’s office can successfully work these cases and put people who are taking advantage of our citizens and small businesses behind bars.”
Individuals or businesses who dealt with SRQ Financial can call 941-861-4900 to speak with sheriff’s office detectives.
This story was originally published April 20, 2021 at 2:05 PM.