Timothy D. Burns—Investment Fraud
Timothy D. Burns Allegedly Engaged in $19 Million Financial Fraud after Supposedly Expecting a $15 Million Windfall from Pre-IPO Facebook Shares
Timothy D. Burns, of Montgomery County, Pennsylvania, allegedly engaged in a $19 Million financial fraud after expecting a $15 million windfall from pre-IPO Facebook shares, according to U.S. District Court Documents currently under review by attorneys Jason Kane and Joe Peiffer.
In addition, Burns allegedly purchased a bayside house in Avalon for $4.6 million, and when the Facebook deal did not come to fruition, Burns allegedly absconded with client money in order to pay for the 4,380-square-foot house, according to said Court Documents.
The Peiffer Wolf Carr & Kane securities rights lawyers are currently investigating Timothy D. Burns and his alleged $19 million fraud scheme. Burns, 36, grew up in Phoenixville, graduated from St. Joseph’s University, and worked at Morgan Stanley before founding his own firm in 2005.
Timothy D. Burns Allegedly Took $11.25 Million of Client Money for Pre-IPO Facebook Shares Which Was Then Purportedly Stolen by California-based Troy Stratos
Timothy D. Burns allegedly used $11.25 million of client money for pre-IPO Facebook shares that was, in turn, stolen by Stratos, according to U.S. District Court documents which are currently being reviewed by attorneys Jason Kane and Joe Peiffer.
Stratos, a reported career con man, allegedly used the money to pay off gambling debts and to buy a $92,000 Land Rover, among other luxuries, according to said Court Documents.
A federal jury in California found Stratos guilty in May, thanks in part to Burns’ testimony, which stretched slightly over three weeks, according to statements from U.S. Justice Department officials being examined at present by attorneys Jason Kane and Joe Peiffer.
Securities Rights Lawyers Investigating
The Peiffer Wolf Carr & Kane securities rights lawyers often represent investors who lose money as a result of alleged financial schemes. They are currently investigating Timothy D. Burns for allegedly operating a financial scheme. 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 Timothy D. Burns for his alleged financial investment may contact the investment rights lawyers at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at (585) 310-5140.