Suffolk County Sheriff Steven W. Tompkins, a ubiquitous, glad-handing Democrat in Boston political circles, was arrested by federal authorities Friday on charges of allegedly extorting a cannabis company, under the threat he would revoke a partnership with his office that was central to the company’s licensing application.

Prosecutors allege that in addition to forcing a company official to sell him stock before the venture went public for $50,000, Tompkins subsequently demanded he be repaid after the value of his shares sank below his initial investment.

Tompkins, 67, was indicted in federal court in Boston on two counts of extortion under color of official right, which carry a maximum sentence of 20 years in federal prison. He was arrested in Florida and released on $200,000 bond aft

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