Charges filed against alleged Ponzi scheme that targeted local investors

(INDIANAPOLIS) – Federal charges have been filed against two people who were part of an alleged Ponzi scheme that impacted several victims in Southeast Indiana. 

Drive Planning allegedly made $300M through its “Real Estate Acceleration Loans” program, where investors were given false information. 

Federal authorities say Drive Planning falsely promised investors a 10 percent rate of return, that investors held an underlying collateral as part of their investment, and that profit-sharing agreements with real estate developers would guarantee returns to real investors. 

The Securities and Exchange Commission (SEC) has formally charged Gerardo Linarducci, who served as the head of the Drive Planning’s Indiana office, as well as former COO David Bradford. 

SEC officials say Linarducci raised more than $13 million in investor funds and his sales team raised more than $30 million. 

Bradford allegedly raised $35 million and his sales team raised $100 million, according to the complaint. 

In 2024, The 812 spoke with two anonymous victims from the Batesville and Sunman area who said they were swindled out of thousands of dollars. You can read that story here. 

Linarducci and Bradford have both been charged with several violations of the Securities Act. 

The SEC seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against Bradford and Linarducci. 

Without admitting or denying the allegations in the complaint, Bradford consented to the entry of a final judgment, subject to court approval.

The investigation is ongoing and is being conducted through the SEC’s Atlanta Regional Office.