The late, great Ray Charles sang it well:

Other arms reach out to me
Other eyes smile tenderly
Still in peaceful dreams I see
The road leads back to you.
I said Georgia
Ooh Georgia, no peace I find
Just an old sweet song
Keeps Georgia on my mind.

Georgia certainly is on the mind of Jeff Davis – or at least it should be. That’s where he began the long journey down a dark financial abyss that has left the man desperate for redemption at any cost.

Right after Y2K, he was a financial planner in Georgia. In his work, he came across many investment opportunities, not the least of which was a privately-held bank called Georgian Bank.

When one of the bank’s early investors hit hard times, Jeff Davis was quick to come the rescue.

In court documents, we found that in May 2008, Davis cooked up a scheme to purchase Georgian Bank shares, taking out a $5 million loan to buy stock.

He reached out to one of his clients, a couple from Georgia named Naomi and Andrew Taylor. The Taylors, whose funds were managed by Davis’s firm, signed over $1 million assuming they were buying stock in the bank. Little did they know, they’d bought into a “holding company” – Davis’s own account – that made them the guarantors of HIS loan.

When the ever-trusting Taylors were out of country on vacation in July of 2008, Davis apparently signed loan documents that placed the financial burden of his loan on the Taylors.

A year later, the Taylors get a notice telling them their “loan” was past due.

“WHAT LOAN?!?!” they wondered.

By September of 2009, they found out “what loan.” It was the one the FDIC was suing them for, because the bank had gone belly-up.

Court documents show Davis starting to cover up his wrong doing – by pleading the Fifth Amendment.

During a deposition in the FDIC-R action, Plaintiffs’ [The Taylors] attorney asked Defendant [Davis] whether he signed Plaintiffs’ names on the May 2008 and August 2008 loan guarantees without their authorization, whether he took the May 2008 loan guarantees to Georgian Bank to induce it to lend $5 million, and whether he took the August 2008 loan guarantees to induce Georgian Bank to renew the $5 million loan. Defendant asserted the Fifth Amendment in response to each of these questions. When asked at the deposition whether he was asserting the Fifth Amendment to avoid incriminating himself, Defendant asserted the Fifth Amendment in response.

By the time it was said and done, Davis fled to the Palmetto State, filed for bankruptcy, and started looking for new schemes to fund his lifestyle.

More to come…