John Childs, a billionaire equity firm owner and one of dozens accused of soliciting prostitution as part of a human trafficking investigation in Indian River County, resigned from the Boston-based firm he founded.

J.W. Childs Associates announced Childs' "retirement" Monday in a press release.

The firm said he currently was not active in managing the firm before he retired.

“John built an enduring and strong business, and we appreciate his many contributions to JWC,” Adam Suttin, managing partner of the firm, said.

“I look forward with confidence to the next chapter for our firm and wish John well.”

More: Billionaire equity firm owner John Childs wanted on prostitution charge in Vero Beach

More: Why would a billionaire go to a suburban strip mall sex spa?

A seasonal Treasure Coast resident, Childs, 77, of Indian River Shores, was identified Thursday during a media briefing in Indian River County where law enforcement officials named several spas in connection with human trafficking case that also involved prostitution.

A warrant for soliciting prostitution was issued for his arrest Feb. 18. The charge is a misdemeanor.

Childs has maintained he is innocent, telling Bloomberg last week he was falsely accused.

More:Florida human sex trafficking ring: The full story

He's a prominent donor to several Republican politicians and groups, including former U.S. House Speaker Paul Ryan, Club for Growth and 2012 presidential candidate Mitt Romney.

He donated about $4.3 million to Republican candidates and PACs last cycle, according to a review of federal campaign finance records.

More:Gov. Ron DeSantis should donate John Childs contributions, Florida Democrats chair says

A six-month investigation revealed human traffickers were luring vulnerable women to massage parlors in Indian River County, where they were coerced into working as prostitutes, Vero Beach police announced Thursday.

Indian River County agencies issued warrants for 173 people, on charges ranging from human trafficking to racketeering to soliciting prostitution.

TCPalm reporter Will Greenlee contributed to this story.

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