According to the Complaint, it is alleged that more than 2,000 investors from Indiana and elsewhere were victimized by a Ponzi scheme under which they were induced and encouraged to invest large sums of money with a promised return of ten percent interest every three months. Investors were urged to use whatever money they had, including their savings, IRAs, pension plans, retirement accounts, mortgages and/or open lines of credit to participate in what, unbeknownst to them, was a fraudulent scheme.

The alleged Ponzi scheme was orchestrated and carried out by Drive Planning, LLC and its founder, both of whom have recently been charged by the Securities and Exchange Commission with originating and engaging in a $300 million Ponzi scheme that defrauded over 2,000 investors. According to the SEC’s complaint, filed in the U.S. District Court for the Northern District of Georgia, Drive Planning and its founder lured investors with promises of lucrative returns through purported real estate investments which in reality were unregistered securities in the form of Real Estate Acceleration Loans (REAL).

The Complaint further alleges that Defendants recommended that the Plaintiffs and countless others invest in Drive Planning, ignoring their risk-tolerance and causing them to lose large sums of money. As alleged in the SEC complaint, Drive Planning's founder actually used the unsuspecting investors’ funds to pay earlier investors and to finance his own extravagant lifestyle, including purchasing a multimillion-dollar yacht, luxury cars, and private jets. Defendants were aware, or should have been aware, that their investors’ money was unsecured and that the investment vehicle was nothing more than a massive scheme to defraud.