The Panama City Police Department announces additional arrest following the investigation of a local business being defrauded of over $40,000.00.
After the arrest of William E. Smith, 43 years of age on August 3, 2012, detectives were able to secure arrest warrants for James R. Davis, 60 years of age, and his son Steven R. Davis, 33 years of age. Both were arrested on August 9, 2012 for the warrants.
They were booked into the Bay County Jail for principal to
ongoing scheme to defraud and principal to grand theft.
During the investigation it was determined that Smith, an employee of Pick and Pull, would arrange for checks to be made out to different business names with false tax identification numbers to purchase scrap cars.
Smith would provide these checks to the Davis’ who would cash the checks through their bank, endorsing the checks as a representative of the business the checks were made out to.
In these cases there were no scrap cars purchased or delivered to Pick and Pull.
Smith was able to arrange these fraudulent purchases to the Davis’ due to his position as a buyer of scrap cars and many legitimate purchases for the company he worked for.
If you have any information in reference to this incident please contact Detective McLaughlin at the Panama City Police Department, 850-872-3112 or you can report your tips anonymously to Crime Stoppers at 850-785-TIPS.