Fishers, IN — An attorney has issued a call to action for investors who suffered significant financial losses due to a suspected Ponzi scheme operated by a company previously located at 8100 E. 106th St. in Fishers, just off Interstate 69. The financial deception has left many savvy investors in a state of disbelief after being duped by what appeared to be a lucrative opportunity.
Shawn Good, representing the aggrieved former clients of Drive Planning, emphasized that his clients, despite their professional accomplishments and educational backgrounds, fell victim to the scheme which promised considerable returns. “Many of these individuals are highly successful in their careers,” Good said. “They saw what they believed was a golden opportunity that unfortunately turned out to be hollow.”
According to the U.S. Securities and Exchange Commission, Drive Planning, under the direction of CEO Russell Todd Burkhalter, allegedly defrauded investors out of approximately $300 million. The funds were reportedly used to finance Burkhalter’s extravagant lifestyle, including the purchase of a $3.1 million yacht.
For several years, the company, which has since vacated its Fishers office, lured over 2,000 investors from Indiana and beyond with the promise of a 10% return every quarter. Investors were encouraged to pour in their savings, retirement funds, and even borrow against lines of credit. It wasn’t until the scheme collapsed that the extent of the deception was uncovered.
Good expressed uncertainty regarding the potential recovery of the lost investments. “At this stage, it’s difficult to say for certain what can be retrieved. There’s a cautious optimism, but the situation remains complex,” he noted.
The pain of financial loss has been compounded by emotional distress, with many investors feeling ashamed and guilty. However, Good pointed out a small silver lining that some clients were relieved they hadn’t drawn friends or family into the scheme.
In a hopeful discourse on possible fund recovery, Good speculated that the firm may possess tangible assets that could be liquidated to reimburse investors. “I am optimistic that they invested in real estate in booming markets like Florida, Georgia, and Indiana, which could possibly aid in the recovery process if these properties have appreciated in value,” he shared.
Drive Planning had ambitious plans for expansion and was approved by Fishers city officials and the mayor in January to develop a new office at the intersection of 116th Street and Olio Road. However, to date, no construction has commenced at the proposed site.
Requests for comments from the mayor on the developments and Burkhalter went unanswered, leaving former investors and legal representatives awaiting further developments.
As the case unfolds, Good is rallying the victims to file a class-action lawsuit in hopes of recovering some of the lost millions. The outcome of this legal battle could offer vital lessons on the vulnerabilities even seasoned investors face in an increasingly complex financial world.