(MENAFN- EIN Presswire)
Attorney Marc Fitapelli
MDF Law is investigating investor complaints against Gerry Linarducci related to his sale of "Real Estate Acceleration Loans" through Drive Planning.
Call our law office at 800-767-8040 if you invested with Gerry Linarducci and Drive Planning. We are interested in speaking with investors in Indiana and nationwide.” - Marc D. Fitapelli, Esq YORK, NY, UNITED STATES, September 4, 2024 /EINPresswire / -- MDF Law is investigating investor complaints against Gerry Linarducci related to his marketing and sale of REAL (Real Estate Acceleration Loans) through a company called Drive Planning. On August 13, 2024, the Securities and Exchange Commission charged various individuals and companies with orchestrating a $300 million ponzi scheme through a company called Drive Planning. The case citation is Securities and Exchange Commission v. Drive Planning, LLC and Russell Todd Burkhalter, No. 1:24-cv-03583 (N.D. Ga. filed Aug. 13, 2024).
Gerry Linarducci was not named in the SEC 's complaint, but he was involved in the offer and sale of Drive Planning. Mr. Linarducci produced marketing materials for Drive Planning and actively marketed the investment to his clients in Indiana. He often produced YouTube videos for Drive Planning.
The SEC's complaint claims that from 2020 until at least June 2024, Drive Planning raised over $300 million for supposed real estate investments, telling investors their funds would be used for land development projects. They promised a 10% return every three months and urged investors to use their savings, retirement accounts, and even take out lines of credit to invest. However, Drive Planning allegedly lacked a business that could deliver the promised returns and instead used investor funds to make Ponzi-style payments. The complaint also accuses Drive Planning's owners with misappropriating investor money to finance his extravagant lifestyle, including purchasing a $3.1 million yacht, spending $4.6 million on private jets and luxury car services, and $2 million on a luxury condo.
The SEC filed the complaint in the U.S. District Court for the Northern District of Georgia, charging Drive Planning and other defendants with violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5. Along with emergency relief, which the defendants did not contest, the SEC is seeking permanent injunctions, the return of unlawfully obtained funds with interest, civil penalties, and a ban on Burkhalter serving as an officer or director. The complaint also names Burkhalter's spouse, Jacqueline Burkhalter, and related entities as relief defendants, seeking the return of illegally acquired gains from them.
MDF Law is a national law firm that represents investors. The firm has offices in California and New York. The firm is interested in speaking with customers of Gerry Linarducci, including those who live in Indiana. If you want to know more about this investigation, please call (800) 767-8040 or visit .
MDF Law PLLC
Phone number: 800-767-8040
New York City Office: 28 Liberty Street, 30th Floor, New York, NY 10005
California Office: 1902 Wright Place, Suite 200, Carlsbad, CA 92008
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Marc Fitapelli
MDF Law
+1 212-203-9300
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Video of Gerry Linarducci Marketing Drive Planning
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