Tampa Real Estate Firm CEO Sentenced For $6.3M Tax Fraud: U.S. DOJ

TAMPA, FL — The co-founder and former CEO of the Tampa-based real estate investment firm Equialt, LLC was sentenced to three years in federal prison for a $6.3-million tax fraud scheme, according to a U.S. Department of Justice news release.

Brian Davison pleaded guilty to making false and fraudulent statements on tax returns on March 24.

As part of his sentence, the court also ordered restitution of $6.3 million to the Internal Revenue Service.

Equialt was placed into judicial receivership following a U.S. Securities and Exchange Commission complaint in February 2020, the DOJ said.

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Between October 2018 and December 2020, Davison filed multiple personal tax returns that underreported his income from Equialt and other business entities by at least $29.7 million.

This resulted in a tax loss to the U.S. by about $6.3 million.