Former Venice contractor accused of taking over $500,000 from customers

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Posted: Thursday, February 27, 2014 10:02 am

VENICE, FL. – A former Venice contractor has been arrested following separate investigations by the Sarasota County Sheriff’s Office and Venice Police Department.

43-year-old Terrence Ream owns Terry Ream Construction on Progress Circle and 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.

A report says Ream recently filed for bankruptcy and relinquished his contractor’s license to the State of Florida.

Ream is charged with 3 counts of Grand Theft, 2 counts of Misappropriation of Construction Funds, 4 counts of Larceny and 2 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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