SEC Charges Burkhalter and His Company in $300 Million Ponzi Scheme
The Securities and Exchange Commission (SEC) announced today that it has obtained a preliminary injunction, asset freeze 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. A receiver for Drive Planning was also appointed. The SEC alleges that the defendants misappropriated millions of dollars of investor funds to finance Burkhalter's lavish lifestyle and make Ponzi-like payments.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Yearn Finance details the $9 million yETH exploit, confirms partial asset recovery and announces remediation plan
Data: BTC rebounds to $94,000, but the market remains unconvinced
US November New York Fed 1-year inflation expectation at 3.2%, previous value 3.24%
Jupiter platform's WET token public sale shares sold out instantly again
Trending news
MoreCrypto prices
More
