If you’ve lived in Chattanooga for more than five minutes, you’ve seen the commercials. You know the ones. A man with a very specific, almost theatrical Southern drawl tells you he’s your "friend in the jewelry business." He talks about gold bullion—or "gode bouyon," as the local memes would have it—and ends every segment with a pious "God bless." For decades, Rick Davis Gold & Diamonds was a Brainerd Road landmark, a place where people went to pawn their memories or invest in their futures.
But things changed. Fast.
By early 2026, the story isn't about jewelry anymore. Honestly, it hasn't been for a while. It’s a messy, complicated saga of FBI raids, lawsuits, and a community finally reconciling with decades of "open secret" rumors. If you're looking for a place to buy an engagement ring today, you’re probably in the wrong place. If you're looking to understand why a local icon is currently at the center of a federal whirlwind, you’re right where you need to be.
The FBI Raid That Changed Everything
It happened on a Wednesday morning in April 2025. People driving down Brainerd Road saw something they didn't expect: a sea of black SUVs and yellow caution tape surrounding the shop. The FBI wasn't there for a routine inspection. They were hauling out boxes, suitcases, and digital records.
While agents swarmed the store, another team was at Davis’s home on Missionary Ridge. News footage from that day is haunting. It shows Davis, who uses a wheelchair, sitting in his driveway watching agents sift through his life. It wasn't just a business investigation; it felt like the end of an era. Or a reckoning.
Local business owners, like Mark Chitwood who worked next door for twenty years, told reporters they weren't exactly shocked. The writing had been on the wall. For months, customers had been complaining about "failed transactions"—the kind of deals where you give someone thousands for gold and the gold never actually shows up.
Behind the "Friend in the Business" Persona
Rick Davis built his brand on being the approachable, local alternative to big-box retailers. He was the guy who could get you cash fast. He was the guy who understood the value of a dollar. But under that "good ol' boy" veneer, the legal documents paint a much darker picture.
Check this out:
- In late 2024, Davis was indicted on seven counts of theft.
- The values weren't small—we're talking between $10,000 and $60,000.
- By January 2025, he was back in handcuffs for passing worthless checks.
It’s one thing to have a bad business year. It’s another thing entirely to be accused of running a "fence operation." That’s a term you hear a lot in the Chattanooga Reddit threads and police reports. A fence is someone who buys stolen goods, melts them down, and makes the evidence disappear before the rightful owner even knows it’s gone.
For years, people whispered that if your jewelry was stolen in a house burglary, it was already a liquid puddle at Rick’s before you finished filing the police report.
The Shadow of the 1990s
You can't talk about Rick Davis Gold & Diamonds without mentioning the 1997 murder of the Geotcheus brothers. It’s the "cold case" that refused to stay cold. For nearly thirty years, rumors swirled that Davis was connected to the disappearance and death of these two young men.
The theory? The brothers supposedly had a videotape of Davis involved in something illegal. They disappeared. Their bodies were found. Davis was never charged with the murders, but the cloud never left him. In recent years, local District Attorney Coty Wamp's office looked back into these cold cases, and while no murder charges stuck to Davis, the investigation reignited the public’s distrust. It’s the kind of local lore that feels like a true crime podcast come to life.
Is Rick Davis Gold & Diamonds Still Open?
The short answer is: not really.
By mid-2025, the business moved into liquidation mode. This wasn't a "Grand Re-opening" sale. It was a court-authorized effort to claw back money for the victims. Sabra Brown, the liquidation leader, described a system where customers were given two-sided tickets just to try and manage the chaos of people trying to get their money back.
If you go to the Better Business Bureau (BBB) page today, it’s a graveyard of red flags.
- Non-Accreditation: The business isn't BBB accredited.
- Unresolved Complaints: People report leaving watches for repair and being told they were "fake" so Davis could buy them for pennies on the dollar.
- Delivery Issues: One customer reported waiting two years for gold bullion they paid for in 2022, only receiving a fraction of the order.
Basically, the "friend in the jewelry business" was allegedly using new customer money to pay off old debts. That's the classic structure of a Ponzi scheme, though legal experts are still untangling the exact financial web.
Why This Matters for Jewelry Buyers
This isn't just local gossip. It’s a cautionary tale about due diligence. When you’re dealing with high-value assets like gold and diamonds, "trust" isn't enough.
Honestly, the jewelry industry relies on reputation. Once that's gone, the gold is just metal. People who trusted the commercials and the "God bless" sign-offs found themselves out of tens of thousands of dollars. They learned the hard way that a big personality on a local TV station doesn't equate to financial security.
How to Protect Yourself
If you're looking to buy or sell precious metals or stones, learn from the Rick Davis saga:
- Verify Physical Inventory: If you’re buying bullion, never accept a "we'll get it to you in a few weeks" excuse. If they don't have it in the safe, don't give them the cash.
- Get Independent Appraisals: Never let the person buying your item be the only one who tells you what it's worth. If a jeweler tells you your Rolex is a "Pakistan fake," get a second opinion before you sell it for $100.
- Check Recent Legal Filings: A quick search of local court records can tell you if a business owner is currently facing theft charges. It sounds extreme, but in the case of Rick Davis, it would have saved a lot of people a lot of heartache.
Actionable Next Steps
If you are one of the many people who still have "unfinished business" with Rick Davis Gold & Diamonds, or if you're just trying to navigate the jewelry market safely, here is what you need to do:
💡 You might also like: EUR to CAD Exchange Rate Today: Why Your Money is Moving This Way
Contact the Authorities: If you have an outstanding claim for money or jewelry that was never returned, contact the Chattanooga Police Department or the Hamilton County District Attorney’s office. The FBI raid in 2025 was a federal matter, but local restitution is often handled through state courts.
Check the Liquidation Status: Most of the physical inventory from the Brainerd Road location has been sold to satisfy judgments. If you have a claim, you may need to file as a creditor in a potential bankruptcy or civil proceeding.
Find a GIA-Certified Jeweler: If you need an appraisal or want to buy gold, look for jewelers with GIA (Gemological Institute of America) or AGS (American Gem Society) credentials. These organizations hold members to strict ethical and technical standards that go beyond just "being a friend."
The story of Rick Davis is far from over. As the 2026 court dates approach, we’ll likely see more details about where the money went and whether the "lore" of the 90s finally catches up with the reality of the present. For now, the neon signs on Brainerd Road serve as a quiet reminder that in the world of gold and diamonds, not everything that glitters is actually gold.