CHATTANOOGA, Tenn. – A Hamilton County grand jury has indicted Chattanooga businessman Rick Davis on theft charges.

The indictment, which our newsroom received Friday, lists six separate counts against Davis, alleging crimes committed between December 2023 and May 2024.

The indictment says Davis

..unlawfully and knowingly acquired or exercised control over property.. without the effective consent of the owner and with the effective consent of the owner and with the intent to deprive the owner of said property.

Two of the counts list the value of this property at $2,500 to $10,000. The other four listing values ​​range from $10,000 to $60,000.

Davis ran a high-profile jewelry store for years and his Facebook page states: “spent his entire life buying, selling and trading gold, silver, diamonds and coins.”

We spoke to some of those affected. Two alleged victims told us they weren’t sure why it happened, but that it had since harmed their families.

We spoke to Davis on the phone early Friday afternoon. He told us that “no one would get hurt” and that this should have been a civil matter. He says it will be solved.

We are working to learn more about the charges and this story will be updated.

Count on us to keep you informed.