ParkShore Resort owner Bryan Punturo was arraigned in 86th District Court Tuesday morning on a felony extortion charge.

Michigan Attorney General Bill Schuette authorized the charge after opening an investigation into Punturo. In summer 2014, Punturo allegedly threatened the owner of a Traverse City parasailing business, telling the man he would run him out of business unless he paid Punturo $19,000 a year. Punturo told the man he had "both the people and the resources to ensure" his company failed, according to the Attorney General's office. Fearful of losing his business, the alleged victim paid Punturo over $35,000.

The business owner later hired attorney Brace Kern. "Due to (Punturo's) attempt to limit competition in the Traverse City parasailing market, we've sued him for violating Michigan's Antitrust Reform Act," Kern says. The attorney also contacted Schuette's office about the extortion plot. After investigating the case, Schuette authorized a federal extortion charge against Punturo.

“Extortion is illegal, plain and simple,” says Schuette. “The actions allegedly taken here were a threat to another person’s livelihood and are not a good business practice.”

Punturo was arraigned on the felony charge in 86th District Court before Judge Thomas Phillips of the 86th District Court Tuesday. Philips set a $100,000 personal recognizance bond, and ordered Punturo not to leave the state without the approval of the court. If convicted of the charge, Punturo faces up to 20 years in prison.

Punturo is next scheduled to appear in court on May 23.