{"id":4832,"date":"2018-01-11T19:41:46","date_gmt":"2018-01-12T01:41:46","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4795"},"modified":"2022-08-29T09:06:02","modified_gmt":"2022-08-29T14:06:02","slug":"securities-fraud-attorney-ordered-pay-disgorgement-alleged-15-8m-investor-fraud-investment-adviser-accused-bilking-professional-athletes-pleads-guilty-hedge-fund-manager","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-attorney-ordered-pay-disgorgement-alleged-15-8m-investor-fraud-investment-adviser-accused-bilking-professional-athletes-pleads-guilty-hedge-fund-manager\/","title":{"rendered":"Securities Fraud: Attorney  Ordered To Pay Disgorgement in Alleged $15.8M Investor Fraud, and Investment Adviser Accused of Bilking Professional Athletes  Pleads Guilty, as Does Hedge Fund Manager In A Separate Investor Scam"},"content":{"rendered":"<p><strong>Investment Adviser Accused of Scamming Pro Athletes and Church Members Admits to Securities Fraud<\/strong><br \/>\nRichard Wyatt Davis Jr., a North Carolina-based investment adviser,has pleaded guilty to tax evasion and securities fraud charges. Davis was indicted for <a href=\"https:\/\/www.stockbroker-fraud.com\" target=\"_blank\" rel=\"noopener noreferrer\">securities fraud<\/a>, wire fraud, and tax evasion in 2017. He initially pleaded not guilty.<\/p>\n<p>According to the criminal indictment, Davis used investor funds to repay other investors in Ponzi-like fashion, as well as to pay for vacation homes, a personal chef, and other lavish expenses. Investors were solicited at events attended for people who distrusted the banking system and the stock market.<\/p>\n<p>Documents contend that Davis made misrepresentations to more than six dozen investors, costing them about $12.8M as a result. Among his victims were people he knew from church, as well as professional athletes. Of the money that Davis solicited, he paid back investors about $3.5M.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-attorney-ordered-pay-disgorgement-alleged-15-8m-investor-fraud-investment-adviser-accused-bilking-professional-athletes-pleads-guilty-hedge-fund-manager\/#more-4832\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investment Adviser Accused of Scamming Pro Athletes and Church Members Admits to Securities Fraud Richard Wyatt Davis Jr., a North Carolina-based investment adviser,has pleaded guilty to tax evasion and securities fraud charges. Davis was indicted for securities fraud, wire fraud, and tax evasion in 2017. He initially pleaded not guilty. According to the criminal indictment, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4832","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Securities Fraud: Attorney Ordered To Pay Disgorgement in Alleged $15.8M Investor Fraud, and Investment Adviser Accused of Bilking Professional Athletes Pleads Guilty, as Does Hedge Fund Manager In A Separate Investor Scam &#8212; Investor Lawyers Blog &#8212; January 11, 2018<\/title>\n<meta name=\"description\" content=\"Investment Adviser Accused of Scamming Pro Athletes and Church Members Admits to Securities Fraud Richard Wyatt Davis Jr., a North Carolina-based &#8212; January 11, 2018\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-attorney-ordered-pay-disgorgement-alleged-15-8m-investor-fraud-investment-adviser-accused-bilking-professional-athletes-pleads-guilty-hedge-fund-manager\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Fraud: Attorney Ordered To Pay Disgorgement in Alleged $15.8M Investor Fraud, and Investment Adviser Accused of Bilking Professional Athletes Pleads Guilty, as Does Hedge Fund Manager In A Separate Investor Scam &#8212; Investor Lawyers Blog &#8212; January 11, 2018\" \/>\n<meta name=\"twitter:description\" content=\"Investment Adviser Accused of Scamming Pro Athletes and Church Members Admits to Securities Fraud Richard Wyatt Davis Jr., a North Carolina-based &#8212; January 11, 2018\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Securities Fraud: Attorney Ordered To Pay Disgorgement in Alleged $15.8M Investor Fraud, and Investment Adviser Accused of Bilking Professional Athletes Pleads Guilty, as Does Hedge Fund Manager In A Separate Investor Scam &#8212; Investor Lawyers Blog &#8212; January 11, 2018","description":"Investment Adviser Accused of Scamming Pro Athletes and Church Members Admits to Securities Fraud Richard Wyatt Davis Jr., a North Carolina-based &#8212; January 11, 2018","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-attorney-ordered-pay-disgorgement-alleged-15-8m-investor-fraud-investment-adviser-accused-bilking-professional-athletes-pleads-guilty-hedge-fund-manager\/","twitter_card":"summary_large_image","twitter_title":"Securities Fraud: Attorney Ordered To Pay Disgorgement in Alleged $15.8M Investor Fraud, and Investment Adviser Accused of Bilking Professional Athletes Pleads Guilty, as Does Hedge Fund Manager In A Separate Investor Scam &#8212; 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