BURLINGTON, VT – A Turkish national living in California faces the grim prospect of spending life behind bars after a federal jury found him guilty of orchestrating the chilling murder of a business associate in Vermont.
Serhat Gumrukcu, formerly engaged in biomedical research, was convicted by a jury for masterminding the murder-for-hire of Gregory Davis. Records reveal that 49-year-old Davis, who had been on the brink of exposing Gumrukcu’s fraudulent activities, became the target of a sinister plot hatched by Gumrukcu and his co-defendant, Berk Eratay.
Court documents depict a dramatic scheme in which Gumrukcu enlisted Jerry Banks, a former jail guard, to masquerade as a U.S. Marshal. Banks abducted Davis from his home in Danville under the pretense of an arrest before driving him to a secluded location where Banks fatally shot him. The heinous act left Davis—a father to six children and with a pregnant wife—dead by a snow bank on the roadside.
In June 2023, Banks entered a guilty plea and identified Gumrukcu as the mastermind. Known to Banks by his grandiose self-given title, the “Turkish Prince,” Gumrukcu was alleged by the prosecution to have often invoked such monikers.
Earlier investigations spotlighted Gumrukcu and his brother, Murat, as central figures due to their entanglements with Davis. The root of the deadly discord lay in a multimillion-dollar oil deal entangled with deceit. In 2017, Davis had been poised to inform federal authorities about fraudulent actions tied to the Gumrukcus, adding layers to the ongoing federal fraud charges Gumrukcu was facing.
Strategically distancing from criminal ties, Gumrukcu had meanwhile been steering towards significant business profits—including substantial stakes in Enochian Bioscience. As his arrest loomed, he had just made a considerable $2 million from a stock sale. Yet, his other dealings, including providing false identification on checks as “HRH Serhat Gumrukcu,” hinted at his involvement in deceitful practices.
The convoluted plot linked Banks to Gumrukcu through a series of connections that included longtime friends and Eratay. Federal investigations unearthed money trails and secret communications that underscored Eratay’s role. Substantial funds were funneled through wire transfers from Turkish accounts managed by Gumrukcu to Eratay, a critical piece of evidence that fortified the conspiracy theory.
Even as the public view of the investigation appeared stagnant, federal agents were quietly gathering intelligence. Their undercover operations took an overt turn when they initiated arrests, subsequently unraveling the conspiracy. Aron Ethridge, a middleman initially reticent, soon provided pivotal testimony against his former friend Eratay and Gumrukcu, laying bare the calculated plot.
Eratay, recognized for his involvement and false declarations, ultimately confessed his involvement last year, adding another layer to the prosecution’s case. Meanwhile, Davis’ widow has initiated a wrongful death lawsuit against Gumrukcu, further entangling the former researcher in legal battles.
As the case continues to unfold, Gumrukcu’s future seems aligned with the confines of prison walls, overshadowed by the violent end orchestrated for Gregory Davis.