Richard Davis Accepts Plea Agreement
On January 12, 2018, Magistrate Judge David Cayer conducted a hearing on the Plea Agreement reached between the U.S. Attorney and Richard Davis. Mr. Davis testified that he agreed to the terms of the Plea Agreement, and the plea was entered. A link to the Entry and Acceptance of Guilty Plea appears below. Once the Court has scheduled a sentencing hearing (likely three or more months after the plea hearing), investors will be notified of the date and time of that hearing.
The U.S. Attorney’s Office issued a press release following the hearing, and a link to that is provided below.
In addition to accepting Mr. Davis’s plea, Judge Cayer altered the conditions of Mr. Davis’s release on bond to eliminate electronic monitoring. Mr. Davis will still be subject to travel restrictions that prohibit him from traveling outside the Western District of North Carolina absent advance permission from his probation officer.
Finally, the Court determined that the broad restrictions Mr. Davis’s contact with any potential witnesses or victims be modified. Specifically, investor-victims who wish to have contact with Mr. Davis will be permitted to opt out of the protection provided by the restrictions provided they do so in writing. However, Mr. Davis shall continue to be prohibited from having any communications regarding the facts and merits of his case with any victim or potential witness.
DCG Receivership 