Rick Davis, a prominent Chattanooga businessman and owner of Rick Davis Gold & Diamonds, has died by suicide while in custody, following a series of legal troubles including an FBI raid on his business and multiple criminal charges.
Davis, 65, was found unresponsive in his jail cell at the Hamilton County Jail early Tuesday morning. He was pronounced dead at the scene. The Hamilton County Sheriff’s Office has confirmed the death and stated that an investigation is underway. Preliminary reports suggest suicide as the cause of death, but an autopsy is pending.
Davis’s legal issues began in earnest last October when he was indicted on seven counts of theft, involving items valued between $10,000 and $60,000. In January, he was arrested on two counts of passing worthless checks. On April 2, the FBI, in coordination with local police, conducted a court-authorized raid on Davis’s business on Brainerd Road and his home on Missionary Ridge. Agents were seen removing boxes and searching vehicles during the operation.
In addition to criminal charges, Davis faced civil litigation. Attorney Buddy Presley filed a lawsuit on behalf of a client who claimed Davis purchased a stolen ring worth over $100,000 for just $150 and failed to return it. A judge ruled that Davis owed the client $85,000. Presley had secured an interest in Davis’s assets, leading to the seizure of inventory from Rick Davis Gold & Diamonds. An estate sale of the business’s assets was scheduled to begin on April 26.
Davis was arrested again on April 11 after allegedly making threats to Presley and his son, stating, “I’m going to kill you,” during phone calls. He was charged with two counts of harassment.
The community has expressed shock and sadness over Davis’s death. Many former customers and associates have shared their experiences, ranging from successful transactions to unresolved disputes. As investigations continue, questions remain about the full extent of Davis’s business dealings and the impact on those involved.
If you or someone you know is struggling with mental health issues, help is available. Contact the National Suicide Prevention Lifeline at 1-800-273-TALK (8255) or visit their website for resources and support.
