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The Money Overview

Fraud & Scams

A financial adviser who pushed 2,000 clients to raid retirement accounts drew the maximum 20 years for a $380 million Ponzi scheme

A federal judge in Atlanta sentenced Todd Burkhalter, founder of the Georgia financial advisory firm Drive Planning LLC, to the statutory maximum of 20 years in prison on Aug. 14 for running a $380 million Ponzi scheme that consumed the retirement savings of more than 2,000 investors. U.S. Attorney Theodore S. Hertzberg said Burkhalter “ruthlessly […]

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Fraud & Scams

A financial adviser who pushed 2,000 clients to raid retirement accounts drew the maximum 20 years for a $380 million Ponzi scheme

A federal judge in Atlanta sentenced Todd Burkhalter, founder of the Georgia financial advisory firm Drive Planning LLC, to the statutory maximum of 20 years in prison on Aug. 14 for running a $380 million Ponzi scheme that consumed the retirement savings of more than 2,000 investors. U.S. Attorney Theodore S. Hertzberg said Burkhalter “ruthlessly […]

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Banking & Credit Cards

Fraud & Scams

A financial adviser who pushed 2,000 clients to raid retirement accounts drew the maximum 20 years for a $380 million Ponzi scheme

A federal judge in Atlanta sentenced Todd Burkhalter, founder of the Georgia financial advisory firm Drive Planning LLC, to the statutory maximum of 20 years...

Fraud & Scams

Locking your Social Security number online blocks new-account identity theft

A thief with a Social Security number and little else can open a credit card, take out a loan, or file a false tax return...

Fraud & Scams

Romance and crypto “pig-butchering” scams are the fastest-growing way thieves drain retirement savings

A stranger’s message lands out of nowhere — a wrong-number text, a dating-app match, a new follower with a friendly comment — and months later,...

Fraud & Scams

Elder-fraud losses hit roughly $7.75 billion last year, a 59% jump

Older Americans reported losing roughly $7.75 billion to fraud last year, a 59% jump over the prior year, according to the FBI’s own tally of...

Fraud & Scams

A Doxim data-breach settlement pays credit-union members up to $5,000, or $100 with no proof, by October 13

A $5.5 million settlement is now open to people notified that their personal information was exposed in a December 2023 data breach at Doxim, Inc.,...

Fraud & Scams

Federal agents caught the accused ringleader of a $250 million gold-and-cash scam that drained older Americans as he tried to flee through JFK airport

A criminal network accused of stripping more than $250 million from older Americans lost its accused top money-mover this week. Authorities caught the man investigators...

Retirement & Taxes

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