SEC Charges Burkhalter and Company with 300 million Dollar Ponzi Scheme

On August 14, the Securities Exchange Commission (SEC) announced today that it has obtained preliminary injunctions, asset freezes and other emergency relief against Atlanta-based Drive Planning LLC and its founder and CEO Russell Todd Burkhalter to stop a $300 million real estate Ponzi scheme affecting more than 2,000 investors. In addition, a receiver for Drive Planning was appointed. The Securities Exchange Commission alleges that the defendants misappropriated millions of dollars of investor funds to fund Burkhalter's lavish lifestyle and make Ponzi-like payments.