WASHINGTON, D.C. (WRIC) — The president of a DC nonprofit pleaded guilty to credit card fraud in a scheme where he blew the charity’s funds on $170 restaurant bills and plane tickets for his personal travel.
Edward Davies was president of the DC Children and Youth Investment Trust Corporation from 2012 to 2016. When he was first appointed to the position, he fired the organization’s controller, bringing on his own man — Earl Hamilton — as the new director of operations and finance. Hamilton has also pleaded guilty to a charge of credit card fraud.
Davies and Hamilton both issued themselves credit cards that could be used to access the DC Trust’s funds, which were intended for legitimate business expenses. But according to a statement of facts — agreed to by Davies as part of his plea agreement, he instead began spending wildly.
Over the four years he served as president, he spent over $2,000 at Target stores near his home and over $170 in a single night at a Chicago restaurant. Those were just a few of the extravagant personal purchases he made, which prosecutors said eventually totaled at least $111,332.
In an indictment filed in 2020, prosecutors alleged that Hamilton followed a similar path, using the DC Trust credit card to book a $980 Caribbean cruise and spending around $1,600 on repairs to his car at a BMW dealership.
According to prosecutors, those funds “were intended to provide scholarship programs for D.C. youth.”
The trust ceased operation in 2016, when the depth of Davies’ and Hamilton’s fraud became known.
The two could face up to ten years in prison each, and both have agreed to make restitution as part of their plea deals.