SEC Accuses Burkhalter and Company of $300 Million Ponzi Scheme
Publication Time:2024-08-14 22:21:06
The US Securities and Exchange Commission (SEC) has announced today the acquisition of an injunction, asset freeze, and other emergency relief against Drive Planning LLC, based in Atlanta, and its founder and CEO Russell Todd Burkhalter, to halt a $300 million real estate Ponzi scheme affecting over 2,000 investors. The SEC alleges that the defendants misused millions of dollars in investor funds to finance Burkhalter's lavish lifestyle and make Ponzi-like payments. In addition, a receiver has been appointed for Drive Planning.
SEC
Ponzi Scheme
Russell Todd Burkhalter
Drive Planning LLC