Florida DBPR Charges Palm Beach County Man in $4.2 Million Dollar Fraud Scheme Targeting State Alcohol License Lottery
November 26, 2024
TALLAHASSEE, Fla. – The Florida Department of Business and Professional Regulation (DBPR) has filed charges against Rajiv Shashikant Shah, owner of Keshra Financial, LLC and #00001 Advanced Fingerprinting and Mobile Notary, for orchestrating a more than $4.2 million fraud scheme that manipulated the state’s annual alcohol license lottery. DBPR’s investigation revealed that Shah used 13,000 fraudulent entries over three years to secure at least 17 winning licenses through his companies. Shah then sold those licenses back to Florida businesses at a premium.
The quota beverage license lottery process, administered by DBPR, is intended to give fair access for establishments to sell beer, wine and liquor in counties with limited availability. Each year, applicants must submit an entry form during the application period, along with a $100 non-refundable fee. Applicants are limited to one entry per county to ensure equal opportunity, and entries can be submitted online, by mail, or in person. Once the application period closes, DBPR conducts a random drawing to select the winners, who are then eligible to apply for a quota license. The quota system is carefully managed to balance supply with county population growth.
Through fraudulent and deceptive practices, Shah prevented legitimate Florida businesses and citizens from winning quota licenses, diverting licenses to his own companies for profit. Shah failed to disclose financial interests in these entries as required and used fraudulent methods to represent his companies’ financial stakes in the entries.
The investigation further uncovered the following tactics used to manipulate the system:
- Fraudulent Fingerprints and Misused SSNs: Shah’s notary company submitted identical fingerprints for multiple winners and misused Social Security Numbers (SSNs) that did not match the names on license applications.
- Forgery and Control of Licenses: He submitted forged Power of Attorney forms that named an unknowing acquaintance, giving him control over the quota licenses without the actual winners’ consent.
- Profiting from Fraudulent Sales: Shah then sold these fraudulently obtained licenses, receiving over $4.2 million from third-party businesses unaware of the fraudulent origins of the licenses.
With the support of the Florida Department of Law Enforcement and Attorney General Ashley Moody’s Office of Statewide Prosecution, DBPR’s Division of Alcoholic Beverages and Tobacco Complex Crimes Unit investigated this case, resulting in Shah turning himself in to the Department on November 25, 2024.
For more information about DBPR’s Division of Alcoholic Beverages and Tobacco, visit MyFloridaLicense.com.
