Chattanooga Businessman Rick Davis Dies by Suicide Amid Mounting Legal Troubles
CHATTANOOGA, Tenn. — Rick Davis, a prominent Chattanooga businessman and owner of Rick Davis Gold & Diamonds, has died by suicide while in custody. His death follows a series of escalating legal issues, including multiple criminal charges and an FBI raid on his business.
A Legacy Marred by Legal Challenges
Davis’s legal troubles intensified over the past year. In October 2024, he was indicted on seven counts of theft, involving items valued between $10,000 and $60,000. In January 2025, he faced two additional charges for passing worthless checks. Most recently, in April, Davis was arrested for allegedly threatening attorney Buddy Presley and his son, stating “I’m going to kill you” during phone calls. Presley represents a client who claims Davis sold her stolen $100,000 ring for $150 and never returned it .
FBI Raid and Asset Seizure
On April 2, 2025, FBI agents and local police raided Rick Davis Gold & Diamonds on Brainerd Road and Davis’s home on Missionary Ridge. The raids were part of an ongoing investigation into Davis’s business practices. Following the raids, a court order led to the seizure of assets from his store as part of a civil lawsuit. The lawsuit alleges Davis sold a stolen ring worth thousands and failed to compensate the rightful owner. Victims of Davis’s alleged schemes have expressed concerns about receiving compensation, as multiple claims have been filed against his assets .
Community Reaction and Ongoing Investigations
Davis’s death has sent shockwaves through the Chattanooga community. While some remember him as a successful businessman, others recall years of alleged unethical practices. Online forums and social media have been flooded with discussions about Davis’s legacy, with some users sharing personal experiences and accusations dating back decades .
The FBI and local authorities continue to investigate the extent of Davis’s alleged criminal activities. The outcome of these investigations will determine the possibility of restitution for his victims.
If you or someone you know is struggling with thoughts of suicide, please reach out to the National Suicide Prevention Lifeline at 1-800-273-TALK (8255) or visit for support.