A Shoals businessman who authorities said took more than $7 million from dozens of investors was sentenced to 10 years in prison Tuesday.
Bryan Kevin Robinson of Killen pleaded guilty to a count of securities fraud Tuesday and was sentenced to 10 years in prison. He's also banned from the securities industry in Alabama and has to pay more than $7 million in restitution to more than 40 investors, according to the Alabama Securities Commission.
Robinson's company, Robinson Capital Investments, was hit with a cease and desist order for selling unregistered securities in a real estate program, authorities said. That led to an investigation that uncovered other investments, including a theme park that was planned for Muscle Shoals.
Robinson was accused of taking funds from investors and using them for personal expenses or financing other investments that investors would not have agreed to. Authorities said he also used funds to make Ponzi-style payments to earlier investors.
"Robinson sought to profit by stealing millions of dollars from over 40 Alabama investors who trusted him with their life savings," Alabama Securities Commission Director Joseph Borg said in a news release. "This conduct will not be tolerated in Alabama."
In February 2015, Robinson and Florida-based DreamVision Inc. announced DreamVision Soundscape, a $3.5 billion music-themed amusement park that would be located in Muscle Shoals. They said the park would be 1,400 acres of music-themed rides and entertainment and bring thousands of jobs to the area. DreamVision also had similar plans for a park in Fort Worth, Texas.
A year after the announcement, there were still no details about the park, funding or even a proposed site for a park so large to be located. DreamVision's website had also expired and the company had filed no trademarks for either of its proposed parks, which they had said would be open in 2019.
Robinson was in legal trouble not long after, facing multiple lawsuits for not paying rent on office space and failing to deliver on investment promises in February 2016. He also received a cease-and-desist order from the state securities commission after they said he took thousands of dollars from investors to buy and flip houses on the real estate market and then never followed through.
After sentencing Tuesday, Robinson was booked into the Lauderdale County Detention Center.
A search of Florida corporation listings today shows all DreamVision-related listings -- including an animation company and a music entity -- as inactive.