Steve Davis and Cape Realty – What’s the Deal?

If you haven’t noticed already, Representative Steve Davis is up for re-election to the Georgia House of Representatives for District 109. He presents himself as a nice guy and has been serving at the House since 2005, but there are some puzzling stories surrounding his career.

There are several specific persons who surround Steve Davis in all of his business dealings and world and they are:

Jim Webb
Brooke Wood (alternatively spelled Brook Wood)
Kevin Jokela
Megan Brown
James Sink
Larry Yager

While others show up intermittently, these are the real players. The lot of them have a tangled web of businesses between them, all registered at the same address (2005 Pennsylvania Ave.) in McDonough, and they amend the filings of the corporate documents with some regularity to switch around the stated roles of themselves as officers and registered agents, etc. One of the real keys is that in almost all instances electronic filings are made by someone (usually Jim Webb or James Sink) with an e-mail address that ends with

Let’s start with Greenwood Crest Realty, as that is the one Steve got in trouble with on the NSP thing. (see )

So, the Herald article is published Oct. 26, 2010. The reimbursement request from the County was made to the Asset Manager who hired Davis’s real estate firm for the NSP closings on Oct. 21st according to the article, after having made a formal repayment request of Davis. That asset manager in question is HENRY NSP, LLC. The problem is that as an LLC – there are no officers to disclose. Pretty handy when you want to remain anonymous.

Greenwood Crest Realty was incorporated at the Secretary of State’s office on December 12, 2008 (by incorporator Jim Webb). It is also one of two companies Steve failed to disclose on his financial disclosures for both 2009 and 2010 despite the fact that he was the CEO of both companies (ultimately – though not originally; noted at Perhaps that’s because he didn’t want anyone to know about his involvement in Greenwood Crest since it was acting as a broker for NSP properties (The other company is Crest Legal Services – we’ll get back to that).

Greenwood Crest: filed Dec. 2008

Incorporator: Jim Webb

Registered agent: Brooke Wood.

On Jan. 14, 2009 the Corporate Officers are filed as:

CEO: Joyce Ruess

CFO: Angela Moody

SEC: Kevin Jokela

The Henry NSP:  1 asset management selection was finalized in late March or early April, and on April 30, 2009 Greenwood Crest amended their annual registration to remove Angela Moody as CFO and add Steve Davis in that position. (Filer – Jim Webb). Finally, STEVE filed the another amended registration in August of 2009 that made him CEO and Brooke Wood CFO of Greenwood (Despite having done so himself, he forgot about it during financial disclosure time). Another interesting note on this filing is that while all previously filings left the e-mail address of the filer blank, Steve used Jim Webb’s e-mail address as the contact: (and thus we take a look at Cape Securities and Jim Webb). No other amendments or activity until the notice of intent to dissolve the company filed December 10, 2009. So, in 8 – 9 months of NSP operation Davis supposedly took in more than $25,000 in salary on commissions for real estate transactions solely related to NSP as the agent for one asset manager under NSP. hmmm. Is that 3% commission from which he was paid a salary – not the whole commission as he explained? So how many transactions did Henry NSP do in 8 or 9 months? And who is Henry NSP?

Jim Webb (filer for Greenwood Crest) is also the filer for:

Cape Securities filed March 25, 2008 at 2005 Pennsylvania Avenue as a Foreign Corporation registered in North Carolina. Name of Person filing and Registred Agent as Brooke Wood, but signed by Jim Webb as CEO. Feb 2011 Larry Yager becomes SEC in amended filings by Jim Webb.

Cape Investment Advisory filed Jan. 14, 2008 incorporator: Jim Webb at 2005 Pennsylvania Avenue again; Megan Brown shows up as Agent again in 2010; Larry Yager becomes SEC in Feb. 2011 as filed by Jim Webb at the cape securities e-mail address.

Ficon Family (filed Nov. 4th, 2008) – all at 2005 Pennsylvania Ave. McDonough: incorporator James Sink; Agent: Brooke Wood and then Megan Brown. Jim Webb and Cathy Webb are the CEO/CFO and SEC of this company ultimately.

Cape Insurance Solutions filed March, 19 2008: filer Jim Webb; agent Brooke Wood; address 2005 Pennsylvania Ave. (March 2009 introduces Kevin Jokela as Sec among other changes). James Sink shows as filer on a second March 2009 registration with no other changes. Agent changes to Megan Brown by 2011. 2012 filing has no changes, but Jim Webb filer at e-mail address.

Financial Concierge Concepts filed Nov. 27, 2007 at 2005 Pennsylvania Ave.: Jim Webb incorporator. Joel Beck (atty) as initial filer of registration Jan. 2008. Agent changed to Brook Wood Jan. 2009. Jim Webb CEO, CFO. Kevin Jokela SEC as filed by Jim Webb. Jeffrey McCullough becomes CEO, CFO in March 2010. Jeff McCullough files 2011 annual registration with Jim Webb’s e-mail address at cape securities. Jim Webb files 2012 registration.

Small Business Concierge, Inc. filed March 21, 2008: Jim Webb incorporator, Brooke Wood agent. CEO/CFO Jim Webb. SEC James Sink as filed by Jim Webb March 2008. July 21, 2008 officers changed to James Sink CEO/CFO, Kevin Jokela SEC. Jeffery McCullough becomes CFO in March 2010 per filing by Jim Webb. Jeffrey McCullough files March 2011 registration at Jim Webb’s capesecurites e-mail address. March 2012 Jim Webb files the registration using as e-mail.

Cape Real Estate Sales and Trading, LLC filed Oct. 13, 2008: organizer: James Sink; Agent: Brooke Wood; Jim Webb signs as Owner in first filing. Megan Brown becomes registgered agent in March 2010 filing by Jim Webb at new e-mail address: March 2011 annual registration is signed by Jeffrey McCullough with same e-mail address.

Henry NSP, LLC at 2005 Pennsylvania Ave, McD: Jim Webb as organizer and Brooke Wood as registered agent; filed June 30, 2009. Agent changed to Megan Brown in March 2010 as filed by Jim Webb.

Crest Legal Services filed May 18, 2009: incorporator James Sink; agent: Brooke Wood at 2005 Pennsylvania Ave.; CEO, CFO, SEC: all Steve Davis (and he forgot about it on his disclosures…) as filed by James Sink on May 19, 2009. This company was administratively dissolved in Aug. 2011. Davis’ attorney is quoted as saying that this entity never did business but was simply a shell company as quoted in the Atlanta Unfiltered link above. (Doug Chalmers is the attorney).

So what it boils down to is this: Steve Davis derives his livelihood from one of these Cape Realty businesses (or did). I can’t tell you which one he’s claiming because the State system is messed up right now and I can’t open his disclosures. That business operates at a location from which at least 10 separate businesses are operating with the same alternating officers, agents and filers and most contact e-mails pointing back to capesecurities and/or Jim Webb. Steve had at least two other businesses in which he is listed as an officer – Greenwood Crest and Crest Legal Services – which have been administratively dissolved and that he did not disclose on his personal financial disclosures. Steve’s own attorney is quoted as describing one of those businesses as nothing but a shell in attempting to extricate Steve from the NSP mess. Steve was called out as to one of the businesses he failed to disclose in 2009 for activities he undertook in 2009 at Greenwood Crest – involvement with NSP earning fees as a real estate agent under the program. That company is housed at the same location as the Asset Management firm he supposedly wasn’t a part of, and was filed by the same incorporator and used the same agent as that firm (Henry NSP, LLC). An LLC doesn’t have to file a listing of it’s officers so we won’t find Steve’s fingerprints there. Crest Legal is also filed at the same address, by a connected filer to the other businesses (and one who uses Jim Webb’s e-mail as the contact instead of his own in some filings) and a common registered agent. It is this company Steve’s attorney called a shell. Larry Yager is an Officer of both Cape Investment Advisory and Cape Securities. You have all of these people filing documents at the SOS using each others’ e-mail addresses at the various companies, and filing for one company using a contact e-mail at another company at the same address. And Kevin Jokela is an officer at 4 of the 10 businesses, including Steve’s Greewood Crest. And when Steve himself filed the Aug. 2009 annual registration for Greenwood Crest he used Jim Webb’s cape securities e-mail address as the contact e-mail.

Without making accusations, one could draw certain conclusions as to what is going on here.

For more information there are about 60 links overall for all the individual annual filings of each of these businesses, which are available on the internet at the Secretary of State’s office -> corporations search -> search by name or officer -> click on “view filed documents” at the top of each corporate listing.


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