In what has unfolded as Georgia's perhaps largest Ponzi scheme, financial advisor Todd Burkhalter has pled guilty to wire fraud, as reported by the U.S. Attorney's Office for the Northern District of Georgia. Burkhalter, the chief executive of Drive Planning LLC, orchestrated a massive $380 million scam that bilked over 2,000 investors.
According to U.S. Attorney Theodore S. Hertzberg, Burkhalter shamelessly continued his fraudulent activities even while under federal investigation. Hertzberg stated, "Todd Burkhalter perpetrated what is likely the largest Ponzi scheme in Georgia history," as reported by the U.S. Attorney's Office. In pursuit of luxury and excess, the scheme allowed Burkhalter to accumulate a lavish hoard, including yachts and luxury condos, under the guise of misleading investment vehicles such as the "Real Estate Acceleration Loan" and the "Cash Out Real Estate Fund."
Investors were told by Drive Planning that they did not need to be accredited to participate in the investment opportunities offered. "Guaranteed" returns of 10% every three months for the REAL opportunity and 10% every six months for the CORE Fund were advertised, a robust promise upon which these financial products utterly failed to deliver. Furthermore, the investments were purportedly secured, with collateral sheets showing real estate that simply didn't exist, and relationships with developers that were grossly misrepresented if not entirely fabricated.
Despite the deeply fraudulent nature of the operations, Todd Burkhalter lavishly spent investor money on personal luxuries such as a $2.1 million luxury condo in Mexico and approximately $320,000 on clothing and beauty treatments. With the facade of profitability, the firm continued to solicit multimillion-dollar investments even when the FBI, as Special Agent in Charge Paul Brown of FBI Atlanta detailed, "will continue to aggressively pursue those who weaponize fraud and deception against investors," as noted by the U.S. Attorney's Office.
While Burkhalter has pled guilty to the charges, sentencing remains on the horizon, with the court to consider the U.S. Sentencing Guidelines among other factors. Alongside Burkhalter, David Bradford, former COO of Drive Planning, has also pled guilty for his involvement and awaits sentencing on March 17, 2026. The case, involving integral assistance from the SEC, is being prosecuted by Assistant U.S. Attorney Alex R. Sistla, with the FBI leading the investigations.
