Timothy Burns, ESG Investigated by Securities Attorney

Timothy Burns, an investment professional from the Philadelphia, Pennsylvania area, was charged in a multi-million allegedly fraudulent scheme that involved mail fraud, wire fraud and loan fraud.

Burns owned ESG Family Services and provided bill paying and other personal services to clients. Burns also owned ESG Wealth Management, a company that provided financial management services, all according to the federal prosecutors’ charges.

Burns sought investors who were interested in purchasing shares of Facebook before the company’s initial private offerings and shares of other social media companies, according to charges brought against Burns by the U.S. Attorney’s Office.

Burns himself was reportedly scammed by an individual offering to sell 20 million Facebook shares for $11.2 million, and never received any Facebook shares from the individual after paying him the price, the federal prosecutors alleged.

Tim Burns also converted investor and client money and used it for personal expenses, such as buying a $4 million shore home in Avalon, New Jersey and making a down payment on a commercial office building in Conshohocken, Pennsylvania, according to the U.S. Attorney’s Office.

The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting investors with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.

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In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.