Traverse City businessman, Bryan Punturo, an owner of Parkshore Resort, has been charged by Michigan’s Attorney General with Extortion.
Michigan Attorney General Bill Schuette today charged Punturo with one count of Felony Extortion after allegedly threatening to run a parasailing company out of business.
If convicted, the AG says Punturo faces up to 20 years in prison or up to a $10,000 fine. Punturo was arraigned in 86th District Court today.
In the summer of 2014, Punturo allegedly threatened to run the owner of a local parasailing company out of business unless he was paid $19,000 per year. The victim paid thousands in the alleged extortion plot, in fear of losing his business. An investigation was opened by the Attorney General which provided the evidence that resulted in the charges filed today.
BBB President Phil Catlett commented, “Business pressures can be difficult and intense. It is important for business leaders to have a solid framework of right and wrong to guide decision making; our free market economy relies on the trustworthiness and leadership of our business community.”