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Press Release

North Texas Man Guilty of Committing Perjury in East Texas Trial

For Immediate Release
U.S. Attorney's Office, Eastern District of Texas

TYLER, Texas – A 56-year-old North Texas man has pleaded guilty to committing perjury in the Eastern District of Texas, announced Acting U.S. Attorney Brit Featherston today.


Albert Davis, formerly of Richardson, Texas, pleaded guilty to making false declarations before the court today before U.S. Magistrate Judge John D. Love.


According to information presented in court, in 2011, Davis, through his company, LBDS Holding Company, LLC, filed a federal suit against South Korean-company ISOL Technology, Inc. (LBDS Holding Company, LLC v. ISOL Technology, Inc., et al., Case No. 6:11-CV-428) in the Eastern District of Texas, alleging breach of contract, trade secret misappropriation, and unfair competition. During the 2014 trial of the case, Davis and his co-defendant and former business partner, David Hernon, 56, of Fishers, Indiana, testified falsely about business dealings with Cerner Corporation and offered false exhibits to support LBDS’s claim for damages. At the conclusion of the trial, the jury awarded LBDS a verdict of $25 million. When the perjury was discovered, attorneys for ISOL filed an emergency motion for sanctions against LBDS. The district court vacated the verdict, dismissed LBDS’s case with prejudice, and awarded ISOL $738,706.47 in attorney’s fees.


In 2015, Davis and Hernon were charged in the Eastern District of Texas with making false declarations before court. Hernon pleaded guilty on December 29, 2015, and on July 13, 2017, he was sentenced to 15 months in federal prison by U.S. District Judge Thad Heartfield.


Davis, David Tayce, 67, of Lucas, Texas, Hernon, and Richard Bryant, 41, and his wife, Christina Bryant, 41, both of Sachse, Texas, were charged in a related case in the Western District of Missouri for conspiring to commit wire fraud. From August 25, 2008 to February 19, 2015, Davis and his co-conspirators engaged in a scheme to use Cerner Corporation’s reputation and standing in the medical field to manipulate business transactions and court proceedings in their favor.


On April 24, 2017, Davis, was sentenced by U.S. Chief District Judge Greg Kays in the Western District of Missouri to 12 years in federal prison. The court also ordered Davis to pay $19,151,555 in restitution to the victims of the fraud scheme.


On April 25, 2017, Tayce, Hernon, Richard Bryant, and Christina Bryant were sentenced in separate appearances before Judge Kays. Tayce was sentenced to six years and six months in federal prison and ordered to pay $19,151,555 in restitution. Hernon was sentenced to four years and four months in federal prison and ordered to pay $6,487,224 in restitution. Richard and Christina Bryant were each sentenced to five years of probation and ordered to pay $8,079,197 in restitution.


In a related matter, in the summer of 2013, Davis and Tayce, approached Community Trust Bank regarding financing for iHeart Care cardiovascular surgical centers that Davis and Tayce planned to develop across North Texas. The plan, as outlined by Davis and Tayce, was to open multiple iHeart cardiovascular surgical centers and team up with physicians at each location who would invest in the surgical centers and refer patients to the cardiovascular practices. Over the course of the next year, Davis, Tayce, and Rachelle Dashner, 44, of Dallas, Texas, prepared loan documents related to various iHeart Care locations in Denton, Ennis, Mesquite, and Mansfield. Davis, Tayce, and Dashner identified numerous physicians as guarantors in the loan documents without the physicians’ knowledge and authorization. The loan documents were submitted to Community Trust Bank, and based upon various false and fraudulent representations, Community Trust Bank funded numerous loans to iHeart. In many instances, the iHeart facilities for which financing was obtained were never built or made operational. In total, Davis, Tayce, and Dashner submitted fraudulent loan documents to Community Trust Bank and secured five fraudulent loans totaling over $7,500,000.


Dashner was charged in the Eastern District of Texas with conspiracy to commit bank fraud. She pleaded guilty on May 18, 2017. At sentencing, Dashner faces up to five years in federal prison.


This case was investigated by the Federal Bureau of Investigation. It was prosecuted by Assistant U.S. Attorney Nathaniel C. Kummerfeld, in cooperation with Assistant U.S. Attorney Matthew P. Wolesky of the Western District of Missouri and Assistant U.S. Attorney Kimberly Davis of the Western District of Arkansas.


Updated June 20, 2017