Mini-Madoff Sentenced to Ten Years for $7.8 Million Fraud

Keep Houston Press Free
I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of Houston and help keep the future of Houston Press free.

For ten years, a Houston attorney told friends and prospective investors he was involved in real estate investment. But the money collected merely fed a Ponzi scheme that federal prosecutors say cost more than 20 victims $7.8 million. On Friday, Bill F. Davis was sentenced to ten years in prison after he pleaded guilty to one count of wire fraud.

Judge David Hittner read from victim impact statements during the sentencing, including one that called Davis a "smooth-talking parasite or predator."

Hittner, who also slapped Davis with three years of probation following his release, allowed one victim to address the court. That poor sap stated, "Every cent Bill Davis stole was from a very good friend, and he took advantage of that friendship on every occasion...Mr. Davis, as for your image, the last image I want to see of you is being led away in handcuffs in an orange jumpsuit."

Although Davis only pleaded to the one count, "he had admitted to the entirety of his fraudulent scheme and agreed to be held accountable for all the losses incurred by his victims," according to a press release.

The case was investigated by the FBI and prosecuted by Assistant United States Attorney Jason Varnado.

Keep the Houston Press Free... Since we started the Houston Press, it has been defined as the free, independent voice of Houston, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Houston with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.


Join the Press community and help support independent local journalism in Houston.


Join the Press community and help support independent local journalism in Houston.