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Business ProfileforFinancial Assurance Corporation
Current Alerts For This Business
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the governments allegations, which have not yet been proven.
On June 27, 2018 the United States Attorney's Office filed a Superseding Indictment alleging six counts of money laundering, five counts of wire fraud, four counts of mail fraud, and one count of aggravated identity theft in the United States District Court, Northern District of Illinois, Eastern Division. The indictment alleges DaRayl Davis, owner of Financial Assurance Corporation violated federal laws related to an investment fraud scheme. Specifically, he is accused of misrepresenting annual interest payments, claiming clients' principal investments were protected against losses, and that some investments were backed by a well-known multinational life insurance company. It is also reported that Davis used investors monies for his own personal benefit, and made ponzi-type payments to new investors to conceal the scam. The matter is pending.
Additional business information
At-a-glance
Related Categories
Business Details
- Location of This Business
- Camp Springs, MD 20746-4210
- BBB File Opened:
- 10/27/2004
- Business Started:
- 1/1/1993
- Business Incorporated:
- 7/1/2000
- Type of Entity:
- Corporation
- Business Management
- Mr. DaRayl Davis, President/CEO
- Contact Information
Principal
- Mr. DaRayl Davis, President/CEO
Customer Contact
- Mr. DaRayl Davis, President/CEO
- Additional Contact Information
Email Addresses
- Primary
Customer Complaints
0 Customer Complaints
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