FBI raids Rick Davis Gold and Diamonds in Chattanooga

From Local 3 News: FBI agents and local police raided Rick Davis Gold and Diamonds on Brainerd Road Wednesday morning, marking the latest legal trouble for the jewelry store owner.

Authorities were seen going through suitcases and vehicles on the property, as well as executing a search at Davis’ home on Missionary Ridge. Sky 3 video showed agents sifting through boxes in the driveway while Davis, who uses a wheelchair, observed from a distance.



Wednesday's raid follows a history of legal issues for Davis. In January, he was arrested on two counts of passing worthless checks. In October 2024, he was indicted on seven counts of theft, with the value of the stolen items ranging between $10,000 and $60,000.

Local business owners say the increased law enforcement presence is not surprising. Mark Chitwood, who worked at a jewelry store next to Davis' business for more than 20 years, recalled past customer complaints about transactions with Davis.

“As far as personal deals, when I worked here, my job was designer and sales, and all of the business dealings that Rick had were pretty much private,” Chitwood said.

Another local business owner, who spoke on the condition of anonymity, added, “The writing kind of has been on the wall because of all the media coverage back in August.”
Reports indicate that customers frequently claimed Davis took money for gold and silver but failed to deliver the items as promised. Some even suggested stolen property may have been involved in his transactions.

As of now, authorities have not disclosed the exact reason for the raid. The FBI has not confirmed whether Davis will face additional charges.