Davis Custom Homes Bank Fraud/Theft/Misappropriation of funds Johnston Iowa

Our family, along with at least 34 others in Iowa and several in Nebraska, have been victims of a fraudulent homebuilder operating what can only be described as a Ponzi scheme. This builder collected money through bank draw requests under the pretense of completing construction work, but the work was either never started or left unfinished.

As a result, dozens of families now face mechanic’s liens on their properties despite having paid the builder in full through their construction loans. Many families have lost hundreds of thousands of dollars. The financial and emotional toll has been devastating.

In our case, the builder took significant funds without completing our home. We’ve since faced threats from our lender and have had to navigate the legal consequences of someone else’s wrongdoing. The builder has now deleted their website and shut down all communication, leaving families stranded with half-built homes and no way to recoup their losses.

This was not a mistake or a failed business—it was theft. There needs to be immediate and severe legal action to hold this company accountable and to protect others from similar fraud.