CEO Todd Burkhalter pleads responsible in Georgia Ponzi scheme fraud case

The CEO of a monetary advisory empire accused of masterminding Georgia’s largest Ponzi scheme to fund a lifetime of opulent extravagance has pleaded responsible to “shamelessly” bilking buyers out of a staggering $380 million, authorities introduced Wednesday.

The U.S. Attorney’s Office for the Northern District of Georgia mentioned 54-year-old Todd Burkhalther, founding father of Drive Planning LLC, defrauded greater than 2,000 folks between September 2020 and June 2024. 

He reportedly used the stolen funds to constitution non-public jets and purchase a yacht, a multimillion-dollar rental in Mexico, a lavish wardrobe and luxurious autos like Land Rovers and an RV.

The former trusted advisor of St. Petersburg, Florida, pleaded responsible to wire fraud, in accordance with officers. He is considered one of two executives, together with the corporate’s former COO, who admitted taking part in a task within the yearslong Ponzi scheme, the legal professional’s workplace mentioned.

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“Todd Burkhalter perpetrated what is likely the largest Ponzi scheme in Georgia history,” U.S. Attorney Theodore S. Hertzberg mentioned. “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,” Paul Brown, particular agent accountable for FBI Atlanta, mentioned.  

According to federal investigators, Drive Planning lured abnormal folks by claiming they didn’t must be accredited buyers to take part and inspired them to speculate cash from retirement accounts, financial savings and features of credit score.

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Burkhalter then promised excessive returns, together with a ten% return each three months from a fabricated real estate loan and a 22% annual return from tax liens, whereas falsely claiming that buyers’ cash was government-protected or absolutely collateralized by actual property, officers mentioned.

To perpetuate the lies, Burkhalter reportedly created a listing of imaginary or irrelevant properties with fabricated valuations to current as collateral.  

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Burkhalter and Drive Planning additionally misrepresented the scope of their relationships with actual property builders, federal investigators mentioned. For occasion, a distinguished Atlanta developer reportedly found that Burkhalter was utilizing a property’s title to advertise Drive Planning and subsequently sued the corporate.

Authorities mentioned Burkhalter didn’t use buyers’ cash for its meant objective. Within the primary few months of promoting his actual property choices, he allegedly used the funds to repay an earlier Drive Planning investor, cowl his ex-wife’s authorized charges and pay bills associated to leisure autos.

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If Burkhalter meets the circumstances of his plea settlement, prosecutors will advocate that the decide sentence him to not less than 17 years in jail.

His former colleague, David Bradford, additionally pleaded responsible to conspiracy to commit wire fraud Dec. 16, 2025, officers mentioned. His sentencing listening to is scheduled for March 17.