Kenneth Dante Murena was appointed Receiver in the SEC enforcement action over Atlanta-based Drive Planning LLC to halt a $300 million real estate Ponzi scheme impacting more than 2,000 investors. The SEC’s complaint alleges that, from 2020 through at least June 2024, Drive Planning and its CEO, Russell Todd Burkhalter, raised more than $300 million for purported real estate investments, telling investors their money would be used to fund land development projects. The SEC alleges the defendants misappropriated millions of dollars of investor funds to fund Burkhalter’s lavish lifestyle and to make Ponzi-like payments.

Learn More: https://www.sec.gov/newsroom/press-releases/2024-97?utm_medium=email&utm_source=govdelivery