Ohio Hedge Fund Hustler Davian Caged for $1.8M Fraud

Copley, OH – Anthony Davian, 35, is trading his luxury car keys for prison bars after being sentenced to 57 months behind bars for orchestrating a brazen investment fraud that left investors nearly $1.8 million poorer. The sentencing, handed down by a federal judge, marks the culmination of a lengthy investigation and prosecution by the U.S. Attorney’s Office for the Northern District of Ohio.

Davian, operating under the guise of Davian Capital Advisers, LLC, systematically deceived at least 20 investors across multiple states between 2008 and 2013. He peddled securities – shares in funds bearing names like Rubber City Gravity and Cleveland Precious Metals Fund – that were, in reality, a carefully constructed Ponzi scheme. Instead of legitimate investment, the funds were funneled to pay off earlier investors and, crucially, to line Davian’s own pockets.

“This defendant deceived clients to line his own pockets,” declared U.S. Attorney Steven M. Dettelbach. “We will continue to aggressively pursue cases in which investors are cheated out of their savings.” The court documents paint a picture of a calculated con artist, inflating his firm’s assets and fabricating account statements to appear more credible and attract further investment. Davian allegedly claimed to manage hundreds of millions of dollars, a blatant falsehood designed to impress potential marks.

The spoils of Davian’s deceit weren’t limited to abstract financial gains. Investigators uncovered evidence that he used investor money to indulge in personal luxuries, including the purchase of a high-end Audi Q7 Prestige. The $1,787,679 in restitution ordered by the court is unlikely to fully compensate the victims, many of whom saw their life savings vanish into Davian’s scheme. Beyond restitution, Davian is also forfeiting any property acquired through the fraudulent activity.

Davian pleaded guilty to a litany of charges: one count of securities fraud, two counts of mail fraud, four counts of wire fraud, and seven counts of money laundering. The prosecution, led by Assistant U.S. Attorneys Christos N. Georgalis, Matthew Cronin and James Morford, relied heavily on evidence gathered by agents from the United States Secret Service, the Internal Revenue Service, and the United States Postal Service – a multi-agency effort to dismantle Davian’s operation.

The case serves as a stark reminder of the vulnerability of investors and the lengths to which fraudsters will go to exploit trust. While 57 months may offer some measure of justice to the victims, the financial and emotional scars left by Davian’s scheme will likely linger for years to come. Grimy Times will continue to track white collar criminals and their impact on the American public.