Receivership of
DRIVE PLANNING, LLC

Securities and Exchange Commission v.
DRIVE PLANNING, LLC and Todd Burkhalter
C
ASE NO:  1:24-cv-03583-VMC
 
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Receiver
Kenneth D. Murena

Counsels for Receiver
Russell Landy
and
Adriana Pavon

US DISTRICT COURT
NORTHERN DISTRICT OF GA
ATLANTA DIV



LETTERS TO INVESTORS

Dear Drive Planning LLC Investor:

We write to inform you that on August 13, 2024, the Securities Exchange Commission (the "SEC") commenced an enforcement action against Drive Planning, LLC (“Drive Planning”) and their principal Russell Todd Burkhalter. That enforcement action is pending in the District Court for the Northern District of Georgia (Atlanta Division) before the Honorable Victoria Calvert. 

On ​August 13, 2024, Judge Calvert appointed Kenneth D. Murena, Esq. to serve as the Receiver over Drive Planning creating a Receivership Estate. As Receiver, Mr. Murena is charged with complete control and possession over Drive Planning's operations, with marshaling the assets of Drive Planning, and with recovering certain assets from Defendant Burkhalter and the named Relief Defendants for the benefit of the investors. The Order Appointing Receiver and other relevant court filings are available for review under the Court Documents tab.

In accordance with the Order Appointing Receiver, the Receiver will use his best efforts to locate and preserve Drive Planning's funds and assets, determine the value of Drive Planning's investments, recover assets held by Defendant Burkhalter and Relief Defendants, identify and communicate with investors to determine the amount of their losses, pursue Drive Planning's claims against third parties holding its assets, and maximize the value of the Receivership Estate for the benefit of investors.  

As a result of the enforcement action, distributions to investors are indefinitely suspended. Moreover, the Receiver is not able to return any investments at this time. However, the funds recovered by the Receiver will be used to fund a future claims process and distribution for creditors of Drive Planning and to pay the administrative expenses of the Receivership Estate.  The Receiver will cooperate with the SEC in a good faith effort to act in the best interests of the Receivership Estate and to maximize the recovery for the investors.

The Receiver will keep all interested parties updated as to the status of the Receivership Estate through the website www.driveplanningreceivership.com.

Please feel free to contact the Receiver's office by email at driveplanningreceiver@dvcattorneys.com or by telephone at  (786) 706-9916.

Regards,

Kenneth D. Murena, as Receiver

 
 
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