Regulatory Alerts2023-09-22
Added · Updated
Order to Cease and Desist, Order to Make Restitution, and Notice of Intent to Fine Against Burns Capital Investments LLC and Thomas Zachary Burns
The Connecticut Banking Commissioner orders Burns Capital Investments LLC and Thomas Zachary Burns to cease and desist from violating the Connecticut Uniform Securities Act, including offering unregistered securities, engaging in fraudulent and dishonest practices, and operating as an unregistered investment adviser. The Respondents are required to make restitution to investors from whom they raised at least $148,000 through misrepresentations regarding a cryptocurrency fund and artificial intelligence trading. The Commissioner also issues a notice of intent to impose fines for these violations and for the Respondents' failure to comply with investigative subpoenas.
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