Securities and Exchange Commission v. Christopher W. Burns, Investus Advisers LLC d/b/a Dynamic Money LLC, Investus Financial LLC, and Peer Connect LLC, Case No.  1:20-cv-04620-WMR (N.D. Ga.)

On November 12, 2020, the Commission filed a complaint (the “Complaint”) against Christopher W. Burns (“Burns”), Investus Advisers LLC d/b/a Dynamic Money LLC, Investus Financial LLC, and Peer Connect LLC (collectively, the “Defendants”) and named Meredith Burns as a Relief Defendant (the “Relief Defendant”). The Complaint alleged that, from February 2017 to September 2020, the Defendants violated federal securities laws by defrauded multiple clients by offering and selling approximately $10 million in promissory notes to investors while claiming the notes were backed by collateral and that they presented little or no risk. The Complaint further alleged that the peer-to-peer lending program sold by Burns was a sham, he spent the money he raised to repay earlier investors, to fund his lifestyle, and to purchase tens of thousands of dollars of airtime for his local radio show, then Burns disappeared with investor proceeds in late September 2020. See Complaint.

The Defendants were ordered to pay a combined total of $12,775,799 in disgorgement, prejudgment interest, and a penalty to the Commission. Furthermore, the Court ordered two different financial institutions to transfer the balances of accounts that had been previously frozen pursuant to a Court-authorized Asset Freeze (the “Asset Freeze”). The Relief Defendant was ordered to pay $320,000 in disgorgement to the Commission. The Commission was ordered to hold all funds, together with interest and income earned thereon (collectively, the “Distribution Fund”), pending further order of the Court. See Defendants’ Final Judgment, Relief Defendant’s Final Judgment.

The Fund consists of $334,300 paid by the Relief Defendant and transferred from accounts which were subject to the Asset Freeze, and any future funds paid pursuant to the Defendants’ judgment will be added to the Fund.

On November 29, 2022, the Court entered an order that appointed Miller Kaplan Arase LLP as the Tax Administrator to fulfill the tax obligations of the Distribution Fund.

On June 21, 2023, the Court issued an order approving the Commission’s proposed distribution plan (the “Plan”) and appointed Amy A. Sumner, a Commission employee, as the Distribution Agent to oversee the administration and distribution of the Distribution Fund to harmed investors. See the Court’s Order.

On June 4, 2024, the Court entered an order to disburse $323,756.52 from the Distribution Fund for distribution to eligible investors. See the Court’s Order.

For more information, please contact the Commission:

Office of Distributions
Email: ENFOfficeofDistributions@sec.gov