MIAMI, Fla. — Rakesh Tanguturi, manager of Bargain Stop 2, has been arrested in connection with the theft of Florida Lottery scratch-off tickets valued at more than $60,000, according to police.
Tanguturi, 34, faces charges of organized fraud of $50,000 or more and grand theft. Investigators say he managed Bargain Stop 2, located at 249 Northwest 62nd Street in Miami.
According to the arrest report, the store’s owner discovered suspicious financial activity involving thousands of dollars withdrawn from the business bank account for lottery-related transactions. The owner also reported missing scratch-off ticket books and confronted Tanguturi, who initially denied wrongdoing.
Authorities said the owner later received a text message confession from Tanguturi, and he allegedly admitted to the theft in person to both the owner and a Florida Lottery investigator.
While the total value of stolen scratch-off books exceeded $300,000, officials determined that winning tickets redeemed offset part of the losses. The confirmed theft amount was calculated at $60,546.95.
Investigators noted the stolen ticket books were redeemed in bulk at a single retailer — a pattern described as unusual and indicative of fraud.
Tanguturi was booked into jail and was scheduled to appear in bond court Tuesday.
