Former Equialt, LLC Co-Founder Brian Davison Ordered to Pay $6.2 Million in Restitution
A former Tampa-based real estate CEO has been handed a three-year federal prison sentence for grossly underreporting his income, resulting in a multi-million-dollar tax loss to the U.S. government.
Brian Davison, the co-founder and former CEO of Equialt, LLC, was sentenced Tuesday by U.S. District Judge Mary S. Scriven.
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In addition to his prison term, Davison was ordered to pay $6,293,592 in restitution to the Internal Revenue Service (IRS), matching the exact amount of the tax loss he caused. The sentencing follows his guilty plea on March 24, 2025.
According to court documents, Davison’s fraudulent activities spanned from October 2018 to December 2020. During this period, he filed multiple personal tax returns that underreported his income from Equialt and other business entities by at least $29.7 million. This intentional misrepresentation led directly to the significant tax shortfall.
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Davison’s real estate firm, Equialt, LLC, was previously placed into judicial receivership following a U.S. Securities and Exchange Commission (SEC) complaint filed in February 2020.
The investigation into this case was a collaborative effort between the IRS’s Criminal Investigation division and the Federal Bureau of Investigation (FBI) – Tampa. Assistant U.S. Attorney Adam J. Duso prosecuted the case.
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