In July 2008, Anthony Davian, of Copley, Ohio, formed Davian Capital Advisers, LLC, and allegedly claimed to have $5 million under management, according to a Complaint filed by the SEC.
The Complaint further alleges that soon afterward, Davian allegedly created seven limited partnerships as private investment funds managed by Davian Capital, including LP II, RC Pure Alpha, RC Gravity, Cleveland Gravity, Cleveland Pure Alpha, Cleveland Pure Alpha II, and Cleveland Precious Metals, according to a Complaint filed by the SEC.
Davian Sentenced to 57 Months in the Slammer for Allegedly on 14 Counts of Alleged 14 Securities Fraud, Mail Fraud, Wire Fraud and Money Laundering
From 2008 through 2013, Davian allegedly used his hedge fund, Davian Capital Advisers, LLC, and glitzy social media posts and videos to promote and sell securities to at least 20 investors across several states, resulting in $1.78 million in overall investor loss.
Davian often presented himself a non-traditional investor far from the Wall St. mainstream, often using YouTube videos, Facebook, and Twitter to appeal directly to a new generation of hedge fund investors who wanted to avoid large fees, and yearned for a broker closer to Main St.
Davian allegedly told investors that he sold securities in the configuration of shares in the various funds he had created and controlled. However, Davian allegedly siphoned much of the cash for his own personal uses, purchasing a $40,000 Audi Q7 Prestige, indulging on new office digs, and purchasing land for a $3 million home in Bath Township, the home of LeBron James, according to statements made by Christos Georgalis, an assistant U.S. attorney.
Investment Rights Lawyers Investigating
The Peiffer Rosca Wolf investment rights lawyers often represent investors who lose money as a result of investment misconduct, and are assisting any victims with the recovery of losses they may have suffered. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment misconduct may contact the investment rights lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.