The Florida Department of Business and Professional Regulation (DBPR) has charged Rajiv Shashikant Shah, owner of Keshra Financial, LLC and #00001 Advanced Fingerprinting and Mobile Notary, in connection with a $4.2 million fraud scheme. The scheme involved manipulating the state's annual alcohol license lottery. According to DBPR's investigation, Shah used 13,000 fraudulent entries over three years to secure at least 17 winning licenses through his companies. These licenses were then sold back to Florida businesses at a premium.
The quota beverage license lottery process is designed to provide fair access for establishments seeking to sell beer, wine, and liquor in counties where availability is limited. Each applicant must submit an entry form during the application period with a $100 non-refundable fee. To ensure equal opportunity, applicants are limited to one entry per county. Entries can be submitted online, by mail, or in person. After the application period closes, DBPR conducts a random drawing to select winners eligible for a quota license.
Shah's actions prevented legitimate Florida businesses and citizens from obtaining quota licenses by diverting them to his own companies for profit. He failed to disclose financial interests as required and used fraudulent methods to represent his companies' stakes in the entries.
The investigation was supported by the Florida Department of Law Enforcement and Attorney General Ashley Moody’s Office of Statewide Prosecution. It was conducted by DBPR’s Division of Alcoholic Beverages and Tobacco Complex Crimes Unit. Shah turned himself in on November 25, 2024.
For further details about DBPR’s Division of Alcoholic Beverages and Tobacco, visit MyFloridaLicense.com.