BURLINGTON, VT – A Turkish national, once a resident of a lavish California mansion and a high-profile biomedical researcher, is facing life imprisonment after being convicted for masterminding the murder of a business associate in Vermont in 2018.

Serhat Gumrukcu was found guilty by a federal jury on charges of conspiracy to commit murder for hire, murder for hire, and conspiracy to commit wire fraud. Court documents reveal Gumrukcu instructed Berk Eratay, his co-defendant, to arrange the murder of 49-year-old Gregory Davis to silence him over a fraudulent oil deal.

In a brazen act, Jerry Banks, a former jail guard, was said to have impersonated a U.S. Marshal to kidnap Davis from his Danville home. Under the guise of making an arrest, Banks handcuffed Davis, drove him 15 miles away, and then killed him, leaving the body in a snowbank. Davis left behind a pregnant wife and six children.

Banks entered a guilty plea in June 2023 and testified that the scheme was orchestrated by Gumrukcu, who often referred to himself using grandiose titles like the “Turkish Prince” and “His Royal Highness.”

Prosecutors highlighted that Gumrukcu had a strong motive to eliminate Davis, who was reportedly threatening to report the fraudulent oil deal to authorities. Between 2015 and 2017, Davis had been attempting to hold Gumrukcu accountable for a multimillion-dollar oil deal that went sour, plagued by deceit and unfulfilled promises.

In the backdrop of these charges, Gumrukcu was carving out success in the biotech world. He was significantly involved with Enochian Biosciences, which rapidly distanced itself from him post-arrest. Just days before his arrest in 2022, Gumrukcu liquidated $2 million worth of company stock, adding fuel to suspicions about his motives.

Interestingly, neither Serhat nor his brother, Murat Gumrukcu, were physically present at the murder scene. Murat, who remains in Turkey, was in the U.S. around the time of the murder but denied any involvement or contact with key figures in the case.

The investigation revealed a complex web connecting the conspirators. Banks was acquainted with Aron Ethridge, a friend of Eratay, establishing a direct link to Gumrukcu. Financial records show Gumrukcu channeling over $150,000 to Eratay as plans for the murder took shape.

As the federal investigation emerged from secrecy, the evidence began to coalesce. Ethridge quickly became a cooperating witness, admitting to his role in hiring Banks at the behest of Eratay and Gumrukcu. Ethridge’s confession, consistent with known evidence, fortified the case against the defendants.

Eratay, too, had pleaded guilty earlier. Despite initially denying any knowledge of the conspiracy, alterations in his story under federal scrutiny were noted by investigators.

The tragic loss of Gregory Davis has led his widow to pursue a wrongful death lawsuit against Gumrukcu, adding a civil dimension to the already grave criminal proceedings.