Anthony "@Hedgieguy" Davian Pleads Guilty To Fraud

Tyler Durden's picture

Last August we presented the story of a very sad and misguided individual, one Athony Davian, who was then the first person charged with running a ponzi scheme off twitter. Specifically, we said:

Once upon a time there was a Twitter-based, pump-and-dumping daytrading bucket shop posing as a "successful hedge fund manager" also known as Davian Letter/Davian Capital Advisors run by an Ohio gentleman known as Anthony Davian, which for reasons unknown even managed to run outside capital (somehow raking up to $1.5 million in idiot AUM, mostly courtesy of his very aggressive self promotion on Twitter using the @hedgieguy handle), and which didn't like Zero Hedge much.

(but that's ok because the feeling was mutual - we had advised the SEC in late 2009 that the Davian operation was nothing but a ponzi scheme).


A few years later, said outside capital is gone (with losses that could have been prevented had the SEC moved earlier) and moments ago, following a four year delay since our notice, the SEC has finally acted and charged Anthony Davian with fraud.

Today, the sad story of Anthony "@Hedgieguy" Davian...

... comes to an end with his guilty plea to charges of fraud.


A Copley man today pleaded guilty to charges he operated a fraudulent investment scheme that caused his investors to lose about $1.8 million.


Anthony Davian, 34, was charged with 14 counts of securities fraud, mail fraud, wire fraud, and money laundering. He is scheduled to be sentenced July 2.


“This defendant deceived clients to line his own pockets,” said U.S. Attorney Steven Dettelbach. “We will continue to aggressively pursue cases in which investors are cheated out of their savings.”


Davian grew up in Parma and graduated from Holy Name High School in 1998. He attended the University of Akron but did not



According to charging documents, from 2008 to 2013, Davian used his hedge fund, Davian Capital Advisers, LLC, to promote and sell securities to at least 20 investors across several states, resulting in $1.8 million in overall investor loss.


Davian purported to sell securities in the form of shares in the various funds he created and controlled, including Davian Capital, Rubber City Gravity, Rubber City Pure Alpha, Cleveland Precious Metals Fund, and others. 


Instead, he used the investors’ monies to pay back earlier investors, to enrich himself, and to pay off personal expenses, such as the purchase of an Audi Q7 Prestige, and the construction of a luxury home, according to the information.


The investigation revealed that Davian cajoled investors’ into giving him hundreds of thousands of dollars by claiming to manage hundreds of millions of dollars to make himself appear more sophisticated than he really was, and by falsifying client account statements, according to the information.


Last year, the Securities and Exchange Commission charged Davian and his Richfield-based hedge fund company with defrauding investors. The agency’s complaint characterized Davian Capital as “nothing more than Davian’s personal piggy bank,” and called Davian’s promise of returns on investments "figments of Davian's imagination."

One down. Many more to come.

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Manthong's picture

"We will continue to aggressively pursue cases.."


El Vaquero's picture

Yeah, but those cases will be small fry who aren't insiders.

toys for tits's picture

Davian was small enough to fail ... and he did.

Gaius Frakkin' Baltar's picture

Still waiting for the biggest Ponzi schemers at the Federal Reserve to plead guilty.

CrashisOptimistic's picture

Note that often a guilty plea is not an admission of guilt.  Rather, it may be an evaluation of lowest cost.

Fish Gone Bad's picture

Davian was small enough

That guy has a weight problem, and now he's got a police problem as well.  One has to wonder if he ever thought he was ever doing anything wrong...

So Close's picture

1.8M?   He wasn't even a good rip off artist.

aVileRat's picture

Correct, but he did a very good job at confusing retail investors and also using twitter to skirt market report/investment letter SEC rules.

Tyler1 did a good amount of sleuting to nail this one, so it's a good update and ending to the saga.


StychoKiller's picture

Wait a sec, ZH is a stawk ticker?  On which exchange?

Freddie's picture

...the first person charged with running a ponzi scheme off twitter.

LOL!  Irony.  Twitter ***IS*** a f**king PONZI scheme.   Who will protect the people who own the stock?

lordylord's picture

Twitter ***IS*** a f**king PONZI scheme.


Ponzi inception.  We must go deeper.

The Gooch's picture

Davian: What are you in for?"

Cellmate: "Double homocide. You?"

Davian: "I ran a ponzi on twitter."

Cellmate: "Fuck you say?"

(This is granted .gov does not offer him a job.)

If this is how a Corzine starts, I say nip it in the bud.


diogeneslaertius's picture

this is the China model, publicly burn low lvl nobodies while allowing billions in fraud to ram its dick up the people's ass daily.

Troll Magnet's picture

Honorable Jon Corzine.  Honorable!

Freddie's picture

Free John Corzine!   Attica! Attica!

JuliaS's picture

Who does he think he is? Goldman Satchels?

john39's picture

silly fool... ripping off clients is a perk reserved for those in the club only.

ebworthen's picture

Another guppy caught in the shallows while the Great White Sharks of Wall Street eat surfers and swimmers unfettered.

Glad they finally nabbed the douche but too late for the suckers that fell for his scheme it would seem.

El Vaquero's picture

Yup.  Let me know when they go after Jamie or Lloyd. 

prains's picture


errrr, maybe not

The Most Interesting Frog in the World's picture

Sorry Stupid!  If you gave your $ to this guy, you deserve to lose it!

Digital Disasters's picture

"Successful hedge fund manager" funny

camaro68ss's picture

his timeline went to zero faster then most.

One And Only's picture


I am a famous and very successful hedge fund manager based out of Nigeria. For an excellent investment opportunity please send funds to 1FfmbHfnpaZjKFvyi1okTjJJusN455paPH.

Cacete de Ouro's picture

You must know my cousin, Rodney Yoruba, High Commissioner in Lagos. We have recently received a large inheritance from our recently passed uncle in London, but the will stipulates that the transfer must be secured by a local financial institution in good standing. We would be most greatful if you could facilitate us by supplying swift number and international correspondent account.

Freddie's picture

...the will stipulates that the transfer must be secured by a local financial institution in good standing.

LOL! Good standing aka reputation.  You better not have them wire it to (JP Morgan) Chase as they will rehypothicate your windfall from Nigeria.

are we there yet's picture

I think I got an email from your nigerian princess sister who wanted to give me her virginity and millions of dollars she secretly had from her dead tyrant father.

Pseudonymous's picture

You forgot to add:

Disclosure: Any funds transferred to the aforementioned Bitcoin address become the possession of an agency of a criminal organization involved in murder, theft, fraud, genocide, etc. Investors assume full responsibility for any funds invested or otherwise transferred to the aforementioned Bitcoin address and for everything the subsequent use of the funds by the organization might lead to and shall bear unlimited liability therewith. The records of any transactions shall be kept, in an undeniable fashion, for all to see, at least until the end of time, or until all copies of the Bitcoin blockchain are irrecoverably lost, whichever comes first.

Cacete de Ouro's picture

So is this what a bullion bank Unallocated Gold scam looks like?

After all, unallocated gold is a "Figment of the Imagination"

ZombieHuntclub's picture

A fool and his money are lucky they got together in the first place.

Big Ben's picture

When he gets out, he can apply to be chief of the Social Security Administration.

pound the vix's picture

Sad thing is if he just put the money in the SPY ETF he would be a billionaire!!!!

Sabibaby's picture

This is still small time but at least he got busted. When do we get to the big guys?

cynicalskeptic's picture

What do you not understand about 'Too Big to Fail/Jail?'

Clearly you don't get the whole point of Crony Capitalism.

Dr. Engali's picture

People are stupid. Who the hell gives their money to a person who promotes himself as "a successful hedge fund manager" managing a portfolio called "Rubber City Gravity"? Idiots....

Big Corked Boots's picture

Maybe his investors were expecting a bounce-back?

Duc888's picture






infinity8's picture

I have never "rated" an article on ZH because, well, who the fuck am I? Not cool enough to have founded ZH. But, thumbs up, 5.

Iam Yue2's picture

Hedge Fund.....more like privet leaf.

TaperProof's picture

The guy bought a station wagon, come on... that's an insult to ponzi scheme operators world wide.

Clowns on Acid's picture

Just a young Jim Cramer... who got caught

itstippy's picture

Mrs. Tippy has recently inherited a very sizable amount of money, a situation we've never dealt with before.  We both greatly admire the lifestyles depicted on "The Real Housewives of Camden, NJ".  Can anyone recommend a modern, successful, Twitter-based hedge fund manager who can help us realize our financial dreams?

deerhunter's picture

needing to do a personal ponzi investigation into whether or not the Snorg Tee models are really that good looking in real life,  any willing investors can send funds tooo my personal banking account number,,,,,,,,,

pachanguero's picture

Those aps are going to bust his white ass for breakfast!

AndrewJacksonsGhost's picture

Glad they got this guy, if he wouldn't have been caught, he might have stole as much as Jon Corzine in about a thousand years.