Fugitive Georgia investment adviser ordered to pay $12 million

It’s unclear, though, how much, if anything, Burns’ victims will ever see. Federal court documents indicate that there was some money in various bank accounts for his businesses, frozen by court order after his disappearance. And Burns’ ex-wife previously agreed to disgorge $320,000 in funds he had transferred to her.

But federal officials say most of the investors’ money was spent to fund Burns’ lifestyle, pay business expenses and repay earlier investors, to create the appearance that investments he sold were profitable.

The SEC declined comment. Attorneys representing investors in a separate lawsuit did not respond to a request for

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I inherited ‘a sizable amount’ from my mom. A monetary adviser took me out for a free meal at an investment seminar and produced ‘some good, appealing points.’ Really should I be cautious?

Let’s hope you enjoyed your meals but did not swallow far too a lot of that investment decision guidance.

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Obtaining good, dependable financial assistance is hard. In some cases people today luck into a advice from a friend or acquaintance. Other individuals carry out comprehensive on the internet analysis to discover a professional money manager. Then there are people investors who get a glossy postcard in the mail presenting a totally free steak meal and the possibility to fulfill a savvy economic planner at an “investment seminar.”

Have a issue about how to take care of an problem

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