BURLINGTON, VT – A once-prominent Turkish biomedical researcher, Serhat Gumrukcu, faces a potential life sentence following his conviction for orchestrating the 2018 murder of a business associate in Vermont. The case involved a fraudulent oil deal, with the victim allegedly threatening to expose the deception to authorities.
Jurors found Gumrukcu guilty of murder for hire, conspiracy to commit murder for hire, and conspiracy to commit wire fraud, according to federal court filings. The prosecution contended that Gumrukcu engaged his co-defendant, Berk Eratay, to eliminate 49-year-old Gregory Davis, who was reportedly pushing to reveal compromised details related to a multimillion-dollar oil transaction between 2015 and 2017.
In a shocking revelation during the trial, it emerged that Jerry Banks, a former jail guard, abducted Davis from his Danville residence while impersonating a U.S. Marshal. After handcuffing and transporting Davis 15 miles from his home, Banks murdered him and left his body in a snowy ditch. Davis is survived by a widow, who was pregnant at the time, and six children.
During his guilty plea earlier in June 2023, Banks testified that Gumrukcu masterminded the murder. Gumrukcu, known for flamboyant self-titles such as “Turkish Prince” and “His Royal Highness,” had met Banks through mutual connections mediated by Eratay.
The motive for the murder, as presented by federal prosecutors, was Gumrukcu’s intense desire to prevent Davis from reporting the oil deal saga to law enforcement. This deal had fallen through under dubious circumstances, marked by unmet promises and deceit, intensifying Davis’s resolve to hold Gumrukcu accountable.
Despite his significant roles in the biotechnology sector, particularly with Enochian Biosciences, Gumrukcu’s career took a nosedive following his arrest. His dismissal from the company was swift, following the liquidation of $2 million worth of his stock in the company, adding to suspicions regarding his alleged criminal activities.
The complexity of the murder conspiracy deepened with the involvement of multiple individuals. Financial transactions indicated that Gumrukcu had transferred over $150,000 to Eratay as part of the murder plot. Furthermore, Aron Ethridge, connected to both Banks and Eratay, turned cooperative witness, corroborating federal evidence and underlining the depth of the conspiracy.
Notably absent from the crime scene were Gumrukcu and his brother, Murat, who is also implicated in the case but remains in Turkey. His proximity to the U.S. at the time of the murder added layers to the investigation but he has consistently denied any involvement.
Eratay, who has also pleaded guilty, changed his initial denials when faced with overwhelming federal evidence. This change in testimony played a crucial role in solidifying the case against him and his cohorts.
In response to these grievous circumstances, Davis’s widow has initiated a wrongful death lawsuit against Gumrukcu, further complicating the legal entanglements surrounding this case.
The chilling sequence of events leading to Gregory Davis’s death not only highlights a tragic loss but also raises critical concerns about the perils lurking within high-stake business deals and the lengths to which individuals might go to protect their interests. As the legal proceedings continue, the community and Davis’s family await justice, hoping for closure in this captivating and horrifying case.