A Grand Prairie, Texas attorney is facing federal charges after allegedly operating a years-long Ponzi scheme, forging official legal documents, and pressuring an innocent family to flee the country to obstruct a federal investigation.
On August 31, 2026, David Thomas Gilchrist, 70, was arrested by federal authorities following a joint investigation by the U.S. Securities and Exchange Commission (SEC) Office of Inspector General and the U.S. Marshals Service.
Gilchrist has been charged via criminal complaint with wire fraud, witness tampering, and aggravated identity theft.
Alongside the criminal arrest, the SEC filed a parallel civil fraud complaint charging both Gilchrist and Texas-based podcast host Christopher “Aaron” Novinger for their roles in multiple fraudulent investment offerings.
The Alleged Scheme: Tax Liens and Fabricated Excuses
According to court filings, Gilchrist entered into partnerships and promissory note agreements with investors between 2021 and 2026, raising over $1.8 million across four separate offerings. He pitched the primary investments as an opportunity to purchase property tax liens across Texas counties.
Instead of deploying the funds as promised, bank records reveal Gilchrist commingled investor funds, using the money for personal expenses and to pay off earlier investors—the classic mechanics of a Ponzi scheme. Out of roughly $1.45 million raised in the tax lien offering alone, Gilchrist allegedly returned only $789,000.
When investors pushed for their money or updates, Gilchrist offered elaborate delays and fabrications, including claims of:
- A government shutdown
- An active arson investigation
- Deployment for hurricane relief efforts
- A major medical emergency (claiming to be hospitalized in Tennessee while gym records showed him checking into a facility in Texas)
Podcast Host Charged with Solicitations and SEC Order Violations
The SEC’s civil complaint reveals that Gilchrist did not act alone in sourcing funds. The regulator charged Christopher “Aaron” Novinger, a Texas-based podcast host, with soliciting investors for two of Gilchrist’s fraudulent offerings.
According to the SEC:
- Novinger facilitated the transfer of investor money to Gilchrist.
- He lied to at least two investors by claiming he had personally invested his own money into the scheme.
- Novinger solicited these investments in direct violation of a 2016 SEC bar that had previously prohibited him from associating with any broker.
The SEC’s complaint also names Novinger’s wife, Rebecca Novinger, as a relief defendant to recover ill-gotten investor funds that were routed to her.
In total, the SEC charged both Gilchrist and Novinger with violating federal antifraud provisions. Novinger faces additional charges for acting as an unregistered broker, violating his prior SEC bar, and aiding and abetting Gilchrist’s fraud.
A Web of Forgeries and Witness Tampering
The charges escalate beyond financial fraud into alleged obstruction of federal regulatory bodies. When the SEC launched an enforcement investigation into Gilchrist’s dealings, he provided regulators with redacted quitclaim deeds that contained forged signatures and stamps of real Texas state notaries.
During sworn testimony before the SEC in spring 2026, Gilchrist attempted to explain away the documents by alleging:
The property owners involved were “illegal.”
He used an undocumented woman as a middleman to deliver cash directly to property owners in Bexar County.
In reality, federal authorities contend Gilchrist barely knew the woman and selected her as a scapegoat. Days before testifying to the SEC, Gilchrist allegedly showed up unannounced at her home, told her husband that the FBI was searching for him, and advised the couple to “take a vacation” to Mexico for a couple of years so investigators couldn’t question them.
Potential Penalties
The Northern District of Texas U.S. Attorney’s Office and the SEC have made clear that obstruction by licensed legal professionals will be met with severe consequences.
If convicted, Gilchrist faces significant time in federal prison:
- Wire Fraud: Up to 20 years
- Witness Tampering: Up to 20 years
- Aggravated Identity Theft: A mandatory 2-year consecutive sentence
Meanwhile, the SEC’s civil lawsuit seeks permanent injunctions, disgorgement of ill-gotten gains with interest, and civil monetary penalties against both Gilchrist and Novinger.
Note: A criminal complaint is an allegation, and the defendant is presumed innocent unless proven guilty in a court of law.
This article is general information, not legal or financial advice. To speak with a Securities Attorney, please contact Brenda Hamilton at 200 E Palmetto Rd, Suite 103, Boca Raton, Florida, (561) 416-8956, or by email at [email protected].
Hamilton & Associates | Securities Attorneys
Brenda Hamilton, Securities Attorney
200 E Palmetto Rd, Suite 103
Boca Raton, Florida 33432
Telephone: (561) 416-8956
Facsimile: (561) 416-2855
www.SecuritiesLawyer101.com