Integrity Wealth Partners (IWP) Ponzi Scheme Case

$IWP investors filed a claim against Integrity Wealth Partners for promoting fraudulent investments in a Ponzi scheme, causing significant financial losses.

• On August 13, 2024, the SEC got a court order against Drive Planning, revealing a $300 million Ponzi scheme that affected more than 2,000 investors.

• Affected $IWP investors may join the claim to be notified about potential recovery.

On September 22, 2020, Drive Planning, began offering "Real Estate Acceleration Loans (REAL)" to investors, promising a 10% return every three months.

• The investments were unregistered securities used to fund a Ponzi scheme.

According to the SEC, the scheme was orchestrated by Drive Planning's founder, Russell Todd Burkhalter, who used investors’ money to finance a lavish lifestyle, including buying a multimillion-dollar yacht, luxury cars, and private jets.

• Integrity Wealth Partners, led by Gerardo Lorenzo Linarducci, recommended these investments to clients, ignoring their financial risk tolerance.

On this news, $IWP investors suffered substantial losses as their funds were never secured or invested in real assets.

Based on these events, $IWP stockholders filed a claim against Integrity Wealth Partners and its leaders, accusing them of the following details:

• Promoting fraudulent investment schemes without disclosing the risks.

• Misleading investors about the security and legitimacy of the "REAL" investments, which were unregistered securities.

Considering these allegations, investors have reason to believe that Integrity Wealth Partners knowingly promoted a Ponzi scheme, leading to significant financial losses.

One of $IWP’s investors has already filed a claim against Integrity Wealth Partners in the U.S. District Court for the Southern District of Indiana