Ex-Virginia Beach Broker Pleads Guilty to Fraud - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Ex-Virginia Beach Broker Pleads Guilty to Fraud

Posted: Updated:
NORFOLK, Va. (AP) - A former Virginia Beach broker faces up to 20 years in prison after pleading guilty to wire fraud.

Jeffrey Scott Davis entered his plea Tuesday in U.S. District Court in Norfolk. He's scheduled to be sentenced Feb. 3.

52-year-old Davis admitted to embezzling $192,000 from five clients' brokerage accounts while working as an independent broker for Ameriprise Financial. Davis paid credit card debts with the money.

Davis agreed to make restitution to Ameriprise Financial.

Ameriprise Financial spokesman John Brine says the company terminated Davis in 2013 and restored the clients' funds.
Powered by Frankly

All content © Copyright 2000 - 2018 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices