Suffolk County Sheriff Steven W. Tompkins has been indicted on federal charges accusing him of extorting an executive from a Boston-based marijuana company in connection with its efforts to operate a retail store in the city.

Federal prosecutors say Tompkins, 67, of Boston, used his position to pressure the executive for a pre-IPO equity stake in the company, ultimately securing nearly 29,000 shares at a discounted price. The indictment, unsealed today, charges him with two counts of extortion under color of official right, each carrying a maximum penalty of 20 years in prison. He was arrested this morning in Florida and is expected to appear in federal court in Boston at a later date.

According to court documents, the marijuana company—identified as “Company A”—partnered with the Suffolk County Sheriff’s Department in 2019 to fulfill the Massachusetts Cannabis Control Commission’s Positive Impact Plan requirement, which included hiring graduates from the sheriff’s re-entry program. The partnership was referenced in licensing applications approved in 2020 and renewed annually. Prosecutors allege Tompkins reminded the executive of his role in helping secure those approvals while pressing for stock in the company.

In November 2020, Tompkins allegedly wired $50,000 from his retirement account to the executive in exchange for the shares, which increased in value to roughly $138,000 after the company went public in 2021. When the stock later fell below his original investment, Tompkins allegedly demanded a full refund. Between May 2022 and July 2023, the executive issued five checks totaling $50,000, with some memo lines reading “loan repayment” or “[company] expense,” which prosecutors say was meant to conceal the nature of the payments.

U.S. Attorney Leah B. Foley called the allegations “an affront to the voters and taxpayers” and said public corruption remains a top enforcement priority. FBI Special Agent in Charge Ted E. Docks said the case is “clear cut corruption under federal law,” alleging the sheriff “saw an easy way to make a quick buck on the sly.”

Tompkins, first appointed sheriff in 2013, oversees about 1,000 employees across the Suffolk County House of Correction and the Nashua Street Jail. He remains presumed innocent unless proven guilty.