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A former Atlanta advisor and radio persona who has been on the lam since September 2020, a day earlier than he was scheduled to show over paperwork associated to his companies to the Securities and Change Fee, has been indicted for his function in a Ponzi scheme that robbed dozens of traders of tens of millions of {dollars}, in response to a information launch from the U.S. Lawyer’s Workplace, Northern District of Georgia.
Christopher Burns, 40, a resident of Berkely Lake, Ga., additionally was charged final April by a federal grand jury with 10 counts of wire fraud, two counts of mail fraud, and 4 counts of cash laundering final April. He was beforehand charged in a prison grievance on October 23, 2020, with one depend of mail fraud.
Burns performed enterprise by means of a number of entities, together with Investus Advisers, LLC, Investus Monetary, LLC, Dynamic Cash, and Peer Join, LLC. He’s alleged to have defrauded traders of at the least $10 million, promising them that their cash can be loaned to companies that wanted financing and with little or no threat, the discharge mentioned.
Prosecutors mentioned Burns additionally lied to traders that he would pool their cash to lend it to startup companies and charities, the discharge famous. As an alternative, he used the victims’ cash to repay prior traders and to fund his enterprise and his lavish way of life.
The funding scheme involving dozens of traders in Georgia, Florida and North Carolina performed out between 2017 and September 2020, the SEC mentioned.
Burns allegedly instructed that he would pool their cash to lend it to startup companies and charities, the discharge famous. As an alternative, he used the victims’ cash to repay prior traders and to fund his enterprise and his lavish way of life, prosecutors mentioned.
Burns was scheduled to relinquish paperwork associated to his companies to the SEC on September 25, 2020. However the subsequent day he disappeared. Prosecutors mentioned the car he was driving was discovered deserted in Dunwoody, Ga., with copies of three cashier’s checks totaling greater than $78,000.
He was the host of the radio program, “The Chris Burns Present,” which was broadcast from Atlanta. This system, in response to his web site, helped traders unpack “how the week’s headlines virtually influence your life, pockets and future.” Burns additionally had appeared on tv exhibits the place he introduced himself as an skilled and well-informed funding skilled.
“Ponzi schemes, such because the one Burns carried out, inflict emotional and monetary harm on its victims,” James E. Dorsey, Particular Agent in Cost, IRS Felony Investigation, Atlanta Area Workplace, mentioned in a press release.
“Burns obtained then violated the belief of his purchasers to fund his lavish way of life,” added U.S. Lawyer Ryan Okay. Buchanan. “He betrayed traders and stole their financial savings with guarantees of secure investments that may yield excessive charges of return. People who overtly cheat their purchasers ought to anticipate to be held accountable. The authorities are persevering with to seek for Burns, and anybody with details about his whereabouts ought to contact the FBI.”
Along with info on Burn’s whereabouts, prosecutors mentioned for those who suppose you had been defrauded, contact the FBI-Atlanta discipline workplace at 770-216-3000 or go to ideas.fbi.gov.
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