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Updated: 1:07 AM Mar 4, 2008
UPDATE: Former Car Dealer Pleads Guilty in Federal Court
Fred Davis pleaded guilty to one count of Bank Fraud and 1 count of Money Laundering.
Posted: 11:06 AM Mar 3, 2008Reporter: WSAZ News Staff Email Address: news@wsaz.com |
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31 Comments
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A former Huntington area car dealer has pleaded guilty to federal charges in US District Court in Huntington
The trial for Fred Davis was expected to begin Monday, instead Davis pleaded guilty to one count of Bank Fraud and 1 count of Money Laundering.
Davis who owned Davis Chrysler Plymouth Jeep Eagle was indicted in 2006 for his role in what federal prosecutors called a complex fraud scheme. They say Davis stole 6 million dollars from BB&T as part of that scheme.
That original 38 count indictment included 1-count of Bank Fraud, 20-counts of Wire Fraud, and 17-counts of Money Laundering.
He sold the business in 2003.
Davis will be sentenced in June. He faces 40 years in prison and could pay restitution of 15 million dollars.
Latest Comments
Posted by: annonymous
on Mar 9, 2008 at 01:11 PM
While I don't agree with Mr. Davis' actions, I do ask that we all pray for his family, especially his two innocent daughters. Not only are they probably reading comments on this blog about their father, but they are suffering with embarassment and surely a change in lifestyle coming their way.
Posted by: BOB T
on Mar 8, 2008 at 10:31 AM
GOOD LUCK MAN-IT WILL WORK OUT
Posted by: Bill
on Mar 6, 2008 at 11:31 PM
In response to Anonymous...the questions Dave Benton asked were appropriate. Fred Davis pleaded guilty to bank and wire fraud. Dave's first question asked if Davis wanted to make a comment. His attorney would not let Davis answer, so, Benton continued his peppering of questions, which included: "Did you think you'd get away with it?" "Why did you do it to begin with?" "Is there anybody you'd like to apologize to?" It appeared to me those questions were very poignant and questions I and viewers would have asked. Get over yourself, you're obviously a family member or close friend of his. He had 3 chances to answer the reporter.. but kept silent... which speaks volumes of his guilt.
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