SEC Freezes Fugitive Chris Burns’ Assets
On November 12, 2020, the SEC filed a complaint against Chris Burns of Atlanta, Georgia, alleging that he defrauded multiple clients. Burns allegedly committed fraud through his four companies: Investus Advisers LLC, Dynamic Money LLC, Investus Financial LLC, and Peer Connect. A district court in Georgia entered an order to freeze Burn’s assets in hopes that some money could be recovered for his alleged victims. Burns was most recently registered as a broker with Hornor, Townend, & Kent, and worked as an investment adviser through Investus Advisers.
As of publishing, Chris Burns is a fugitive. He disappeared on September 24, 2020, the day before the SEC’s deadline for him to turn over documents related to his business, Dynamic Money. Before he disappeared, he transferred $165,000 of the money he allegedly raised from investors to one of his personal checking accounts. His wife reported him missing, and shortly thereafter the FBI joined in on the search.
According to the SEC complaint, Chris Burns sold $10 million in promissory notes issued by his investors. The SEC alleges that Burns represented to investors that the money would go toward peer-to-peer lending programs, providing capital for new businesses. Instead, Burns allegedly used the money to pay his own personal expenses and to repay previous investors. The SEC complaint states that those personal expenses included a million-dollar lake house, a boat, and cars. He also used the money to purchase thousands of dollars’ worth of local airtime for his radio show, “The Chris Burns Show.” The show’s website states that the program will help audiences “Unpack how the weeks’ headlines practically impact your life, wallet, and future.”
Burns allegedly went to great lengths to assure investors that their money would be safe. He allegedly represented that he would pay investors monthly payouts that would include a portion of the principal along with interest, or that investors could choose to collect a lump sum once the promissory notes matured. Chris Burns also signed guarantees stating that he would return 100% of any principal loss for each note. Hopefully, the freeze will allow some of Burns’ victims to recover at least some of their lost investments. If you have concerns about investments you made as Chris Burns’ client, don’t hesitate to contact the lawyers at Fitapelli Kurta for a free consultation. Contact us at (877) 238-4175 or email@example.com.