Todd Burkhalter, founder and CEO of Drive Planning LLC, a Georgia-based financial advisory firm, has pleaded guilty to wire fraud for orchestrating a Ponzi scheme that resulted in losses of hundreds of millions of dollars for thousands of investors.
“Todd Burkhalter perpetrated what is likely the largest Ponzi scheme in Georgia history,” said U.S. Attorney Theodore S. Hertzberg. “Unbelievably, Burkhalter shamelessly continued to scam his victims even while under federal investigation. Today’s guilty plea is just the first step in holding Burkhalter accountable for the considerable harm he caused.”
“Todd Burkhalter built a massive Ponzi scheme on lies, exploiting trust to steal hundreds of millions of dollars from more than 2,000 victims while funding an extravagant lifestyle,” said Paul Brown, Special Agent in Charge of FBI Atlanta. “The FBI will continue to aggressively pursue those who weaponize fraud and deception against investors, and we are committed to holding them fully accountable and seeking justice for every victim harmed.”
According to court documents and statements made by U.S. Attorney Hertzberg, between September 2020 and June 2024, Drive Planning promoted investment opportunities such as the “Real Estate Acceleration Loan” (REAL) and the “Cash Out Real Estate Fund” (CORE Fund). Investors were told they could participate without being accredited and were encouraged to use retirement accounts or other savings.
REAL was presented as a bridge loan opportunity with promises of a 10% return every three months. Investors were told their funds were collateralized by real estate properties; however, some properties listed did not exist or had inflated values. The company also falsely claimed partnerships with known real estate developers.
For the CORE Fund, Drive Planning guaranteed returns up to 22% per year over three years and claimed investments were pooled together, government-protected, and fully collateralized. However, after December 9, 2022, no new investments were made into the fund despite ongoing solicitations.
Funds from new investors were used to pay previous investors or cover personal expenses for Burkhalter—including purchases such as a yacht ($2 million), luxury condo in Mexico ($2.1 million), multiple vehicles ($800,000), private jet travel (millions), and high-end goods ($320,000).
Despite an ongoing Securities and Exchange Commission (SEC) investigation beginning March 2024 into Drive Planning’s activities—during which time civil enforcement actions were filed—Burkhalter continued soliciting investments.
In total, more than 2,000 people lost approximately $380 million through this scheme.
The SEC obtained a temporary restraining order against Drive Planning in August 2024; court-appointed receiver Kenneth D. Murena is now working to recover assets for victims.
Burkhalter faces sentencing before U.S. District Judge Tiffany R. Johnson at a date yet to be determined; prosecutors have agreed to recommend a sentence of seventeen-and-a-half years but final determination rests with the Court under federal guidelines.
David Bradford—Drive Planning’s former chief operating officer—pleaded guilty last December for his role related to the CORE Fund; his sentencing is set for March 17, 2026.
The case was investigated by the Federal Bureau of Investigation with assistance from the SEC and prosecuted by Assistant U.S. Attorney Alex R. Sistla.
The United States Attorney's Office for the Northern District of Georgia operates as the main federal law enforcement agency serving north Georgia—including Atlanta—and handles criminal prosecutions such as this one alongside civil cases on behalf of the United States (official website). The office coordinates efforts with other agencies on cases that can have national or international impact (official website).
For further information contact USAGAN.PressEmails@usdoj.gov or (404) 581-6016.
