Judge William M. Ray II entered a default judgement in favor of the SEC in its lawsuit against Burns, Investus Advisers, Investus Financial, and Peer Connect.
The once-prominent advisor finalized a divorce agreement and disappeared the next day, when he was supposed to hand over documents to regulators. He is accused of bilking more than 90 investors out of millions of dollars to fund his fancy lifestyle.
His car was found abandoned in a parking lot, but law enforcement has not been able to locate him since.