U.S. Attorney Gregory W. Kehoe announced on Thursday, July 10, that James Elliott Davis II, 36, of Ponte Vedra Beach, has pleaded guilty to bank fraud, wire fraud, money laundering and theft of mail.
Davis faces up to 30 years in federal prison on the bank fraud count, up to 20 years in prison on the wire fraud count, up to 10 years in prison on the money laundering count, up to five years in prison on the theft of mail count and payment of restitution.
According to a report from the U.S. Attorney’s Office, Middle District of Florida, Davis has agreed to forfeit between $6.7 million and $8.8 million, which are traceable to proceeds of these crimes. No sentencing date has been set.
According to court documents, from March 2018 through 2022, Davis ran a purported medical supply company named Medisale Inc. Using false representations, Davis enticed individuals and business entities to invest large sums of money in Medisale, according to the documents.
This case was investigated by the Federal Deposit Insurance Corporation — Office of Inspector General, Florida Department of Law Enforcement, and the Internal Revenue Service Criminal Investigation. It is being prosecuted by Assistant U.S. Attorney Kevin C. Frein. The asset forfeiture is being handled by Assistant U.S. Attorney Jennifer M. Harrington.
