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SEC Suspends CPA with Revoked License

Parent Category: ROOT
Thursday, 09 June 2011
Published Date
Written by Bob Scott

The Securities and Exchange Commission has barred Edwin "Ted" Reese Davis Jr.,  who continued to audit public companies despite the fact that his license had expired nearly three years ago in Utah. Davis has also not paid fees since that time.

Davis, who operates in Cedar City,Utah, owns the Davis Accounting Group and Etania Audit Group, and was licensed by Utah from Oct. 29, 1977 through Sept. 30, 2008. The Utah's Division of Occupational & Professional Licensing revoked his license on Nov. 4, 2010 and he was ordered to cease and desist from holding himself out as a CPA. He prepared at least 23 audit reports that were filed with the SEC since his license expired.

That is only one of Davis' problems. Investor newsletters say he was arrested in December at his office on a warrant from the Park County Sheriff's Office in Livingston, Mont. on suspicion of issuing bad checks. Davis was also reported as the former CFO of the Copper King Mining Corp., which is bankrupt.

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