Name and Shame
Name and Shame



This complaint was posted on NAS on 6th Jan, 2021 and is a permanent record located here: .

NameandShame Author
The Smart Investor Feed
6th Jan, 2021

He Defrauds His Clients!

Today, The Smart Investor Feed brings you another morally reprehensible fraud.

Richard W. Davis Jr has been seized/arrested by the U.S. Securities And Exchange Commission (SEC). Shocking right?

We weren’t expecting this as well, but these scammers are getting smarter by the minute, making it harder for us to identify.

Such swindlers seem to be booming in numbers lately. This case is kind of interesting, why don’t I show you why:

Full Report On Richard W. Davis Jr

On November 17, 2020, the U.S. District Court for the Western District of North Carolina entered a final judgment as to monetary relief against Richard W. Davis, whom the SEC previously charged in connection with a scheme to defraud advisory clients and misappropriate investment funds.

According to the SEC's complaint, filed June 2, 2016, Davis solicited investments through the unregistered sale of securities in two unregistered hedge funds for which he acted as fund manager. The complaint alleges that Davis misrepresented to investors he would invest their money in assets such as real estate or mineral rights, but instead caused the funds to engage in undisclosed transactions with companies that he owned and then continued to misrepresent to investors that their investments were growing, despite actually suffering losses. According to the complaint, Davis also misappropriated a large part of the money he raised from investors for his own personal use.

Davis previously agreed to a bifurcated settlement that left determination of any monetary remedies against him to the court. Separately, Davis agreed to a permanent securities industry bar.

The court's final judgment finds Davis liable for disgorgement and prejudgment interest of $653,904. In light of his conviction and sentence to a 90-month prison term in a parallel criminal case, the SEC dismissed its claim for a civil penalty, thereby concluding this matter in full.

The SEC's litigation was led by Patrick R. Costello and supervised by Frederick L. Block. Christopher Mathews, supervised by J. Lee Buck, of the SEC's Enforcement Division assisted in the litigation.

Conclusion: Richard W. Davis Jr Is A Fraud

The report on SEC clearly suggests that Richard W. Davis Jr never had any intentions to do honest business or provide helpful services. Main intention behind all their actions was to take advantage of the honesty & gullibility of people and scam them. It would be an understatement to call this a mere fraud, this one is a scandal.

If you feel like you are a victim of this scam, then I recommend contacting a law firm and consulting with them about a lawsuit. Companies & firms pay huge reprimands to settle serious lawsuits.

Help Us Fight These Criminals

Do you have evidence against Richard W. Davis Jr or one of their associates, then please post it here. These criminals rely on their witnesses’ & victims’ silence, if you speak up, then they get exposed and punished for their horrific acts. I started The Smart Investor Feed on this site with only one purpose; to become a nightmare for the financial frauds in the country. I try to post often, so you can bookmark my profile for regular updates on frauds & con-artists.

Full Disclosure: We sourced this piece of information from the SEC database

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