SEC Charges Russell Todd Burkhalter and His Atlanta-Based Firm With $300 Million Ponzi Scheme and Obtains Emergency Relief
Featured News, Featured Stories, News August 15, 2024
Burkhalter allegedly stole investor funds to buy a $3.1 million yacht and fund a lavish lifestyle. According to public Georgia records, Burkhalter owns multiple properties in Fannin County, Georgia.
Washington D.C., Aug. 14, 2024 —
The Securities and Exchange Commission today announced that it 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 halt a $300 million real estate Ponzi scheme impacting more than 2,000 investors. Additionally, a receiver was appointed over Drive Planning. The SEC alleges the defendants misappropriated millions of dollars of investor funds to fund Burkhalter’s lavish lifestyle and to make Ponzi-like payments.
“Drive Planning and Burkhalter gained the trust of everyday people and encouraged them to invest in this scheme by promising exorbitant returns, but as our complaint alleges, the defendants’ business was nothing more than a classic Ponzi scheme, using new investor money to pay returns to existing investors, with Burkhalter stealing millions to fund a lavish lifestyle,” said Nekia Hackworth Jones, Director of the SEC’s Atlanta Regional Office. “Investors should be vigilant when they encounter aggressive sellers who make over-the-top sales pitches and promise high rates of guaranteed returns.”
The SEC’s complaint alleges that, from 2020 through at least June 2024, Drive Planning and Burkhalter raised more than $300 million for purported real estate investments, telling investors their money would be used to fund land development projects. The defendants promised 10% interest every 3 months and encouraged investors to tap their savings, retirement accounts, and even open lines of credit to invest. In reality, the defendants did not have a business capable of generating the promised returns, and they instead used investor funds to make Ponzi-like payments, according to the complaint. The complaint further alleges that Burkhalter stole investor funds to fund his luxurious lifestyle, including to buy a $3.1 million yacht and spending $4.6 million on chartering private jets and luxury car services and $2 million on a luxury condo. 
The SEC’s complaint, filed in the U.S. District Court for the Northern District of Georgia, charges Drive Planning and Burkhalter with violating the antifraud provisions of the federal securities laws. In addition to the emergency relief granted by the Court, which the defendants did not oppose, the SEC seeks permanent injunctions, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties against the defendants, and an officer-and-director bar against Burkhalter. The complaint also names Jacqueline Burkhalter, Burkhalter’s spouse, and several related entities as relief defendants and seeks disgorgement of ill-gotten gains from them.
The SEC’s ongoing investigation is being conducted by Austin Stephenson and Cody Turley, under the supervision of Peter Diskin and Justin Jeffries, of the SEC’s Atlanta Regional Office. The SEC’s litigation will be led by Pat Huddleston and H.B. Roback, under the supervision of M. Graham Loomis.
Fannin County Republican Party’s 2022 Valentine’s Day Dinner & Candidate Forum
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Indians Struggle at Fannin County
Featured Stories October 24, 2021
The Chattooga Indians took to the road as they traveled to Blue Ridge Georgia to face off against the Rebels of Fannin Co. This Game was referred to by most as the Defacto 7-AA Region Championship Game with the winner having the inside track to the #1 Seed in the Playoffs. This huge game garnered multiple media outlets and a boatload of fans from both sides. In the end the Rebels of Fannin County were victorious with a very impressive 42-7 Win over the Indians from Chattooga.
First Quarter: Chattooga won the coin toss and elected to defer to the second half. Fannin County returned the opening kickoff down to the Indians 30 yard line. Just 5 plays later the Rebels #23 Seth Reece waltzed in from 2 yards out. Pat Was good and that made the score 7-0 Fannin County. Chattooga’s first offensive possession started at their own 40 yard line and ended with a quick punt. Fannin would take over at their own 19 yard line. Fannin drove the field behind a very physical offensive line and scored on a 9 tard touchdown run by # 22 Cason Owensby. That would bring the score to 14-0 Fannin would just over 3 minutes remaining in the quarter. Chattooga Would take the next possession from the the 40 yard line and would be forced to punt after just 3 plays. That would end the quarter with a score of Fannin 14 Chattooga 0.
Second Quarter: Fannin O-line continued where it left off in the first quarter with another quick drive with all runs and ending with a Touchdown run by #4 Bryson Holloway. Chattooga’s Punter #19 Hunter Brown would get another rep and make Fannin start on their own 10 yard line. Chattooga Defense would get a stop and would get the ball back for the Indian offense. Chattooga would take over at their own 30 yard line. One play later the Indians would put the ball on the ground and it would be recovered by the Rebels. Just a few plays later # 23 Seth Reece would run it in untouched from 13 yards out. That would make the Halftime score Fannin County 28 Chattooga 0.
Third Quarter: Chattooga opened the second half with the ball and punted after 3 plays. Fannin would take over at the at the Indians 30 yard line. They would gain a few yards and then on a a third down play the the Indians #22 Rowan Burdick would intercept the pass and end the Fannin Drive. Unfortunately the Indians offense continued to struggle and go three and out once more. Fannin would go on another long drive that ended with another Touchdown by #23 Seth Reece. That would push the score to 35-0 Fannin at the end of the third.
Fourth Quarter: Chattooga opened the 4th quarter with the ball. After another Chattooga punt Fannin started their drive at the 50 yard line. Some of Fannin second team joined in on the action on this drive. In less than 7 plays Fannin would hit paydirt for the last time by # 18 Austin Garland. Score then was Fannin 42 Chattooga 0 with 4 minutes left. Chattooga and Fannin both put subs into the game at this point. Chattooga would score with just a few seconds to go in the game on a 45 yard Touchdown run by #7 Zayden Cook. The PAT was good by #89 Caroline Hodges.
Fannin County was Dominate on both sides of the ball. Offensively they racked up 367 yards on the ground and were led by #23 Seth Reece with 162 yards on 19 Carries. Defensively the Rebels were in the Indian backfield all night which led to the lowest rushing numbers by Chattooga in some time. The Indians rushed 25 time for 96 yards and were led by Freshman # 7 Zayden Cook with 60 Yards and a Touchdown late in the fourth quarter. Chattooga Kicker #89 Caroline Hodges tied the Chattooga all time record for PAT’s made with 58 in her Career.
Chattooga 5-3(4-1) will be back at home next week to face the Pepperell Dragons in a huge game that will decide seeding in the Playoffs. Next Week the Rebels from Fannin 7-1(4-0) will hit the road as they will travel to the Coosa to face off against the Eagles.