Venice, Florida -- A Venice contractor has been arrested following separate investigations by the Sarasota County Sheriff's Office and Venice Police Department.
Terrence Ream, the owner of Terry Ream Construction on Progress Circle, is accused of taking hundreds of thousands of dollars from nearly a dozen customers and never completing the contracted work.
In the three cases investigated by the Sarasota County Sheriff's Office he took more than $285,000 from homeowners between May and October 2013. In the eight Venice Police Department cases he took more than $400,000 from customers. Ream recently filed for bankruptcy and relinquished his contractor's license to the State of Florida.
In all, Ream is charged with three counts of Grand Theft, two counts of Misappropriation of Construction Funds, four counts of Larceny and two counts of Grand Larceny. He is currently being held in the Sarasota County Jail on $325,000 bond.
Anyone who contracted Terry Ream Construction and paid for work that has not been completed can call Criminal Investigations at 861-4900 and ask for Det. Colonna.
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