Bryan Robinson, CEO Provident Capital at DreamVision ceremony.
THE SHOALS – Provident Global Capital CEO Bryan Robinson of Killen has been ordered to cease and desist selling real estate investments. The order came to light Tuesday, even though it was made official the week before Christmas of 2015.
It does not have any connection with Robinson’s part in the suggested DreamVision SoundScape theme park, which was the subject of a highly produced, Hollywood-style announcement ceremony held almost a year ago at the Marriott Shoals Convention Center.
Instead, the cease and desist order references some allegedly improper real estate/mortgage deals of a number of Madison County properties. The State says Robinson’s company, Robinson Capital Investments, LLC, sold securities to investors in 2014, and allegedly promised investors 11 per-cent yearly interest. One news source says that the 11 per-cent was monthly interest, however the order only states that the interest payments were to be broken down into monthly payments (See the attached PDF). According to the complaint, these properties were never actually purchased. Several investors allegedly conveyed to Robinson’s company hundreds of thousands of dollars in return for promissory notes.
Additionally, the Commission says that neither Robinson, nor his company is registered to conduct business in the securities industry in Alabama. The order required Robinson and his company to immediately cease and desist from any further offers or sales of any securities connected with Alabama properties.
Robinson could not be reached by the Quad-Cities Daily for comment. It has been widely reported by other news media that Robinson claims that the properties were connected with default mortgages, and the legal issues came from a simple filing error. It is reported that he claims the Madison County Probate Office recordings were erroneously filed prematurely, and that he is working with the Commission to resolve the issues and pay back investors. He has 28 days from the date of the complaint to respond to the Alabama Securities Commission.
DreamVision CEO, Rick Silanskas; Bryan Robinson, DreamVision COO, Ron Logan
As for DreamVision SoundScape, the $3.5-Billion project, the Texas-based company has missed the December 2015 deadline on which it promised to provide substantially more information on its investors and development plans.
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