Michael Perik, a Jamestown, Rhode Island businessman and the husband of Rhode Island Democratic Party Chair Liz Beretta-Perik, faces a dozen felony charges in a sweeping Ohio indictment accusing him and two others of orchestrating a coordinated scheme that diverted roughly $20 million in federal financial aid, Pell Grants, and state subsidies from Eastern Gateway Community College before the institution collapsed.
Ohio Auditor of State Keith Faber announced the indictments on October 8, 2026, following a multi-year investigation by his Special Investigations Unit.
A Jefferson County grand jury returned a 24-count indictment charging Perik and co-defendant Nicole Rowe Colclasure with engaging in a pattern of corrupt activities (racketeering), aggravated theft of $1.5 million or more, theft in office, telecommunications fraud, bribery, having an unlawful interest in a public contract, receiving stolen property, and money laundering.
Former Eastern Gateway president and chief financial officer Michael Geoghegan faces nine related felony counts. Court appearances were scheduled for October 19.
According to the Ohio Auditor’s office, Perik allegedly used four for-profit entities he controlled, including the Student Resource Center, to improperly divert funds through fraudulent reimbursements and illegal incentive compensation.
Federal law bars incentive payments tied to enrollment and financial aid activities unless handled by a truly independent third party.
Investigators allege the companies did not operate independently; instead, they exercised significant control over enrollment, attendance verification, financial aid access, and other core functions.
