Regulatory Alerts2024-04-05
Added · Updated
Bulletin 3137 - April 5, 2024
The Connecticut Department of Banking imposed permanent cease-and-desist orders and fines against Burns Capital Investments LLC and Thomas Zachary Burns for raising $148,000 through an unregistered and fraudulent cryptocurrency fund, requiring $700,000 in joint restitution and penalties. The Department also fined Archer Micro Cap Value Fund $10,000 and Artemis Capital Group L.L.C. $20,000 for selling unregistered securities and operating as an unregistered investment adviser. Additionally, Better Local Capital, LLC filed an application for a business and industrial development corporation license.
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