Drive Planning founder Todd Burkhalter was sentenced to 20 years in federal prison for masterminding a $380 million Ponzi scheme that defrauded more than 2,000 investors. Federal authorities called the multi-year fraud one of the largest financial cons in Georgia history, fueled by luxury spending on yachts, private jets, and international property.
A Georgia financial advising executive received a 20-year federal prison sentence for orchestrating what investigators describe as the largest Ponzi scheme in the state’s history according to federal court records. Todd Burkhalter, the 59-year-old founder of Atlanta-area Drive Planning LLC, was sentenced by US District Court Judge Tiffany R. Johnson after pleading guilty to wire fraud charges.
The scheme operated between September 2020 and June 2024, during which time Drive Planning marketed investment opportunities that pulled in nearly $400 million from more than 2,000 victims according to the U.S. Attorney’s Office for the Northern District of Georgia. Rather than deploying capital into legitimate real estate ventures, Burkhalter used incoming investor funds to pay off early participants in classic Ponzi fashion while financing an opulent lifestyle.
Extravagant Spending and Fabricated Collateral
Federal investigators detailed how Burkhalter diverted millions of dollars from the pool of investor cash for personal enrichment. His purchases included a $2 million yacht, a $2.1 million condominium in Cabo San Lucas, Mexico, and $800,000 spent on vehicles such as an RV and two Land Rovers as reported by court filings. He also chartered private jets, spent hundreds of thousands on luxury clothing, jewelry, and beauty treatments, and used $800,000 to cover his ex-wife’s attorney fees.
To lure victims, Drive Planning promoted investment vehicles such as the Real Estate Acceleration Loan program, known as REAL, and the Cash Out Real Estate Fund, or CORE Fund. Advisors encouraged investors to tap retirement accounts, personal savings, and lines of credit by falsely promising high returns—including 10% returns every three months and 22% annual returns from tax liens—while claiming the money was fully collateralized by real estate authorities noted.
In reality, Burkhalter directed staff to prepare fraudulent collateral sheets listing fictitious or non-existent properties with inflated valuations prosecutors revealed. When a prominent Atlanta developer discovered that Drive Planning was wrongfully using property names to market investments, the developer subsequently filed a lawsuit against the firm according to federal investigators.
Co-Defendants and Continuing Fraud Under Investigation
The investigation snared other top executives at the firm. David Bradford, the 53-year-old Chief Operating Officer and a pastor who drew victims from church communities, pleaded guilty to conspiracy to commit wire fraud in a proceeding last December. Bradford admitted helping Burkhalter operate the CORE Fund ruse, which stole $4.1 million from investors. He was sentenced to four years in prison and ordered to pay $4,297,878.16 in restitution.
“I participated in that fraud and I benefited from it, and there’s no excuse for what I did. I deceived myself and, in turn, I deceived the people who trusted me.”
David Bradford, Drive Planning COO
Julie Edwards, the company’s Chief Administrative Officer, was sentenced to two years in federal prison for laundering proceeds, including using $630,000 of investor funds to buy a home in Cumming, Georgia federal prosecutors stated. All three convicted executives will face three years of supervised release following their prison terms.
Law enforcement officials emphasized the brazen nature of the operation, noting that Burkhalter pressed forward with his fraudulent enterprise even after federal authorities opened an inquiry.
“Todd Burkhalter perpetrated what is likely the largest Ponzi scheme in Georgia history. 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.”
Theodore S. Hertzberg, U.S. Attorney
Special Agent in Charge of FBI Atlanta Paul Brown echoed those remarks in a statement, stating that Burkhalter exploited deep personal trust to defraud thousands while insulating his personal wealth before federal agents intervened.
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