ORLANDO, Fla. — A Ponte Vedra Beach man was sentenced to seven years and seven months in federal prison for a multimillion-dollar fraud scheme involving COVID-19 personal protective equipment.
James Elliott Davis II, 37, previously pleaded guilty to bank fraud, wire fraud, money laundering and theft of mail, according to the U.S. Attorney’s Office for the Middle District of Florida.
Prosecutors said Davis operated a purported medical supply company called Medisale Inc. from March 2018 through 2022.
Davis falsely told investors that the company had contracts with hospitals to sell large quantities of N95 masks and other protective equipment, prosecutors said. He also showed investors fraudulent bank statements that appeared to show profits from PPE sales.
Investigators said Medisale had no hospital contracts or legitimate revenue from PPE sales. Davis instead moved fraudulent checks and electronic transfers among financial institutions to inflate his account balances.
Prosecutors said he used investors’ money to pay previous debts, provide purported profits to other investors and cover personal expenses.
A federal judge ordered Davis to forfeit approximately $6.7 million in proceeds and pay restitution to his victims.
The case was investigated by the FDIC Office of Inspector General, the Florida Department of Law Enforcement and IRS Criminal Investigation.
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