Area real estate firm, CEO face fraud charges in alleged $170M scheme

The SEC says Tampa-based EquiAlt perpetuated a $170 million Ponzi scheme.

  • By Business Observer Staff
  • | 4:40 p.m. February 18, 2020
  • | 0 Free Articles Remaining!
File. EquiAlt CEO Brian Davison faces federal fraud charges stemming from what the SEC says is a $170 million Ponzi scheme.
File. EquiAlt CEO Brian Davison faces federal fraud charges stemming from what the SEC says is a $170 million Ponzi scheme.
  • Tampa Bay-Lakeland
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TAMPA — The Securities and Exchange Commission has charged EquiAlt LLC and its top leaders, CEO Brian Davison and Managing Director Barry Rybicki, in what it says was a fraudulent and unregistered securities offering that raised more than $170 million from at least 1,100 investors.

 

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