Drive Planning SEC Charged executives face serious allegations in a massive financial scandal that shook the investment world. The Securities and Exchange Commission filed civil charges on December 19, 2025, against former Drive Planning LLC executives David J.
Bradford and Gerardo L. Linarducci in the U.S. District Court for the Northern District of Georgia. These executives allegedly ran a Ponzi-like scheme that raised over $300 million through a fake Real Estate Acceleration Loans program.
The importance of this case cannot be overstated for us as investors. Bradford and Linarducci promised guaranteed annual returns of 10% and falsely assured investment safety with collateral backing.
This type of fraud represents a significant threat to how we evaluate investment opportunities and trust financial programs.
Key aspects of this scandal include the massive scale of deception and the sophisticated methods used to mislead investors. Bradford individually raised over $35 million, with his team contributing more than $100 million.
Linarducci raised over $13 million individually, plus an additional $30 million from his team. Both executives received millions in compensation from sales related to the alleged fraudulent scheme.
The case reveals different approaches to handling securities fraud. The SEC obtained emergency relief including an asset freeze and preliminary injunctions against Drive Planning and founder Russell Todd Burkhalter.
Bradford agreed to settle charges with a permanent injunction and industry bar without admitting or denying allegations. Meanwhile, the SEC seeks similar remedies against Linarducci alongside disgorgement of profits and civil penalties.
This scandal has broader implications for investor protection, regulatory oversight, and the real estate lending industry. The case highlights how funds were not used as promised, with returns to earlier investors paid using money from newer investors.
Such schemes damage market confidence and hurt individual investors who trusted these programs.
The details of this $300 million fraud will shock you.
Key Takeaways
Table of Contents
- The SEC charged Drive Planning executives David Bradford and Gerardo Linarducci for running a $300 million Ponzi scheme targeting investors.
- Bradford raised over $35 million personally while his team collected $100 million through fraudulent real estate investment promises.
- Linarducci personally raised $13 million and his team added $30 million to the scheme using deceptive investment tactics.
- Bradford settled SEC charges and accepted a permanent industry bar, while Linarducci faces ongoing legal action and penalties.
- The scheme used new investor money to pay earlier investors instead of legitimate real estate lending as promised.
SEC Charges Against Former Drive Planning Executives
The SEC filed serious charges against former Drive Planning executives for running a massive investment fraud scheme. These charges reveal how the executives allegedly deceived investors and misused their money in what prosecutors call a classic Ponzi operation.
Allegations of Fraudulent Real Estate Lending Program
We discovered that former Drive Planning executives created a fake Real Estate Acceleration Loans program to deceive investors. David J. Bradford and Gerardo L. Linarducci built this fraudulent scheme to steal money from people who trusted them with their capital.
Both executives told lies about how safe the investment program was and promised returns of 10% each year. Securities fraud occurred when they misrepresented the actual structure of their lending program.
Bradford personally raised over $35 million from investors while his team brought in more than $100 million total. Linarducci raised over $13 million himself, and his team contributed an additional $30 million to the scheme.
Both men received millions in compensation from these securities sales. This Ponzi-like operation used new investor money to pay earlier investors instead of generating real profits.
Civil charges now detail how these executives violated securities laws through their misrepresentation tactics.
Civil Charges Filed in U.S. District Court
The SEC filed civil charges against former Drive Planning LLC executives on December 19, 2025. David J. Bradford and Gerardo L. Linarducci face serious allegations in the U.S. District Court for the Northern District of Georgia.
Both executives stand accused of raising over $300 million through fraudulent misrepresentations to investors like us. These civil charges represent a significant step in holding the executives accountable for their alleged securities fraud.
Federal prosecutors built their complaint around violations under the Securities Act of 1933 and the Securities Exchange Act of 1934. The litigation targets specific misrepresentation tactics used by Bradford and Linarducci during their fundraising efforts.
Court documents reveal how these executives allegedly deceived investors about the safety and returns of their investment programs. This regulatory action demonstrates the SEC’s commitment to protecting investors from fraudulent schemes that violate federal securities laws.
Accused Executives and Misrepresentations to Investors
We’ve seen how David J. Bradford and Gerardo L. Linarducci deceived investors through their Real Estate Acceleration Loans program at Drive Planning LLC. Both executives made false claims about investment safety and promised annual returns of 10% that they never delivered.
Bradford personally raised over $35 million while his team brought in more than $100 million from unsuspecting investors. Linarducci raised over $13 million himself, with his team adding another $30 million to the fraud scheme.
Securities regulators discovered that these executives used classic Ponzi scheme tactics to keep their fraud running. Investment funds were not used as promised to investors. Instead, Bradford and Linarducci paid returns to earlier investors using money from newer victims.
This misrepresentation created a false sense of security among investors who believed their money was safe. Civil charges filed in federal court reveal how these fundraising efforts masked the true nature of their operations.
Details of the Alleged Ponzi Scheme
Drive Planning executives made false promises about safe investments and guaranteed returns to attract unsuspecting investors. We discovered they secretly used new investor money to pay earlier investors while diverting millions for personal use.
Misleading Claims about Investment Safety and Returns
We discovered that Drive Planning executives made false promises about their Real Estate Acceleration Loans program. They told investors the program was safe and backed by solid collateral.
The executives promised annual returns of 10% on investments. These claims turned out to be completely false. Over $300 million was raised through these misleading statements about investment safety and returns.
The funds raised were not used for the promised real estate lending purposes. Instead, executives used newer investors’ money to pay returns to earlier investors. This classic Ponzi scheme structure meant no real collateral backed the investments.
The promised safety never existed. Investors believed their money was secure when it was actually funding fraudulent operations. The misrepresentation of investment safety became the foundation of this massive securities fraud.
Misuse of Investment Funds
Drive Planning executives took our investment funds and used them in ways they never promised. Investment funds were allegedly not used as promised, creating a classic Ponzi scheme structure.
Returns to earlier investors were funded by newer investors rather than legitimate business profits. This deception allowed the fraud to continue for years while more people lost their money.
Over $300 million was raised through misleading practices in connection with the Ponzi-like scheme.
Bradford and Linarducci’s teams brought in significant sums through their fundraising efforts. Total contributions exceeded $145 million from their combined teams alone. Both executives received millions in compensation from the sales of the securities involved in the scheme.
The misrepresentation of how our money would be used formed the core of this financial crime. Securities violations occurred when they failed to disclose the true nature of their investment scheme to us as investors.
Emergency Relief Obtained by SEC
We see the SEC moved quickly to protect investors and assets in this case. Civil charges were filed on December 19, 2025, in the U.S. District Court for the Northern District of Georgia.
The court granted emergency relief that included an asset freeze to prevent further harm to investor funds.
A preliminary injunction was issued against the company and its operations. Founder Russell Todd Burkhalter is also subject to this court order. These emergency measures help stop the alleged fraud scheme and preserve remaining assets for potential investor recovery.
The litigation process allows regulators to pursue compliance and hold securities violators accountable through the court system.
Fundraising Efforts and Compensation
We discovered that Bradford and Linarducci raised millions of dollars from unsuspecting investors while paying themselves hefty compensation packages from the very funds they were supposed to protect.
Want to learn how these executives lined their pockets while investors lost everything?
Amounts Raised by Bradford and Linarducci
Bradford’s fundraising efforts brought in massive amounts of investor money. His individual contributions reached over $35 million from unsuspecting investors. Bradford’s sales team proved even more effective at raising revenue.
The team contributed more than $100 million to the alleged scheme. This teamwork between Bradford and his sales force created a powerful fundraising strategy that attracted significant financial support.
Linarducci also played a major role in the campaign to collect investor funds. His personal fundraising efforts generated over $13 million from investors seeking safe returns. Linarducci’s team raised an additional $30 million through their sponsorship of the investment program.
Together, Bradford and Linarducci’s combined charitable efforts brought in nearly $180 million from investors who trusted their promises about secure real estate investments.
Compensation Received by Executives
We discovered that Bradford and his sales team raised over $135 million from investors seeking real estate investment opportunities. Bradford personally received millions in compensation from these securities sales.
His team worked aggressively to bring in new investors while Bradford collected substantial profits from the fundraising efforts.
Linarducci operated his own sales division and raised over $43 million with his team’s help. He also received millions in compensation from their securities sales revenue. Both executives built their personal wealth through commission structures tied to investor contributions.
The SEC’s investigation reveals how these leaders prioritized their own financial incentives over investor protection, setting the stage for examining the specific violations outlined in the regulatory complaint.
SEC Complaint and Charges
The SEC filed serious charges against Drive Planning executives for violating federal securities laws in this massive investment fraud. We’ve seen how these cases unfold, and the penalties can be severe for those who mislead investors about the safety of their money.
Bradford already reached a settlement with regulators, but Linarducci still faces ongoing legal action that could result in significant financial penalties and other remedies. Keep reading to discover how this Ponzi scheme operated and what it means for your investment decisions.
Violations Under Securities Acts
David J. Bradford and Gerardo L. Linarducci face serious securities regulation violations under federal law. Enforcement action targets their fraudulent activity through antifraud and registration provision violations under the Securities Act of 1933 and the Securities Exchange Act of 1934.
Bradford agreed to settle charges with a permanent injunction and conduct-based industry bar as part of his legal proceedings.
Civil penalties and disgorgement of illicit profits represent key remedies we see pursued in this financial misconduct case. Bradford’s settlement includes permanent restrictions from the securities industry due to his compliance failures.
Ongoing investigation continues against Linarducci, with similar remedies sought including permanent injunctions and profit disgorgement. Investor protection remains the primary focus as authorities pursue full accountability for these securities violations.
Settlement and Remedies for Bradford
Bradford has agreed to settle the SEC charges without admitting or denying the allegations. We see this as a common approach in securities enforcement cases. The settlement includes his consent to a permanent injunction against future violations.
Bradford also accepted a conduct-based industry bar that prevents him from working in certain financial roles. Monetary relief forms part of the agreement, though specific dollar amounts remain undisclosed.
The SEC complaint charges Bradford with violations under both the Securities Act of 1933 and the Securities Exchange Act of 1934. These violations relate to his role in the alleged Ponzi scheme that misled investors.
The settlement provides relief for affected parties while avoiding a lengthy court battle. Bradford’s agreement resolves the SEC’s enforcement action against him, though the agency continues pursuing remedies against other parties involved in the scheme.
Ongoing Investigation and Pursuit of Remedies for Linarducci
The SEC filed a complaint against Gerardo L. Linarducci on December 19, 2025, marking a significant step in our ongoing investigation into this massive fraud. Linarducci raised over $13 million individually through deceptive investment schemes, while his team collected a staggering $30 million total from unsuspecting investors.
Securities violations and financial misconduct form the core of the charges against him. Regulatory compliance failures enabled this extensive misappropriation of investor funds.
Our pursuit of remedies includes permanent injunctions to prevent future securities violations, disgorgement of all profits gained through illegal activities, and substantial civil penalties.
Legal action continues as we work to protect investor interests and ensure proper enforcement of securities laws. The investigation remains active, with authorities examining all aspects of Linarducci’s involvement in the alleged Ponzi scheme.
These enforcement efforts demonstrate our commitment to holding executives accountable for their roles in investment fraud.
Now we turn to examine the broader implications and conclusion of this significant securities case.
Conclusion
We’ve witnessed how the SEC’s charges against Drive Planning executives reveal the devastating impact of a $300 million Ponzi scheme that betrayed investor trust. Bradford and Linarducci’s fraudulent misrepresentations about guaranteed returns and investment safety demonstrate why we must stay vigilant when evaluating investment opportunities.
Investors who lost millions in this scandal remind us that even seemingly legitimate real estate lending programs can hide dangerous securities fraud beneath polished presentations.
Our analysis shows that understanding these warning signs helps protect portfolios from similar schemes targeting unsuspecting victims. Remember that regulatory enforcement actions like these serve as powerful reminders to thoroughly research investment opportunities and seek guidance from qualified professionals before committing funds.
