From the link
@mlhenn provided above:
Since his disappearance, Burns, the founder of defendant Dynamic Money, has been hit with federal mail fraud charges by the United States Department of Justice, and the FBI has
issued a warrant for his arrest, the lawsuit says. The case adds that the Georgia Commissioner of Securities issued on October 20 an emergency order to cease and desist against defendants Investus Advisors, doing business as Dynamic Money LLC, and Investus Financial over alleged violations of the Georgia Uniform Securities Act of 2008 related to “a fraudulent scheme and selling unregistered securities, i.e. promissory notes.”
The lawsuit alleges the crux of the defendants’ scam is that the parties, from at least 2017 through September 2020, illegally raised money from investors by way of what Burns referred to as “peer to peer” lending investment opportunities.
Per the suit, Burns, using his radio show and perceived investing expertise, raised investment capital from proposed class members based on the false assurance that defendants Investus Financial and Peer Connect were lending the consumers’ money to third parties in need of operating capital.
In exchange for their investments, proposed class members were issued promissory notes by Investus Financial and/or Peer Connect, who assured they would repay the consumers’ principal and interest over a period of time.
According to the lawsuit, however,
the promissory notes issued by the defendants were illegal because they amounted to unregistered securities under Georgia law.
