Financial Advisor Accused of Massive Ponzi Scheme
A financial advisor stands accused of orchestrating the largest Ponzi scheme in Georgia’s history, channeling funds into a luxurious lifestyle that included yachts, multimillion-dollar condos in Mexico, luxury vehicles, jewelry, and private jet charters.
Todd Burkhalter has reportedly admitted to defrauding over 2,000 victims, amassing more than $380 million between September 2020 and June 2024. This was stated by United States Attorney Theodore S. Hertzberg recently.
Hertzberg remarked, “Incredibly, Mr. Burkhalter shamelessly continued to deceive his victims while under federal investigation. Today’s guilty plea is just the first step in holding Mr. Burkhalter accountable for the tremendous harm he has caused.”
Burkhalter, a 54-year-old from Florida, founded an advisory firm called Drive Planning LLC in Alpharetta, Georgia. He targeted various investment opportunities, including Real Estate Accelerated Loans (REAL) and Cash-Out Real Estate Funds (CORE Funds).
He often portrayed investing in the fund as “easy and simple,” coaxing potential investors to use their retirement or savings accounts.
Burkhalter utilized REAL as the major investment tool and fraudulently marketed it as a bridging loan to investors, ensuring a return of 10% every three months.
Through these fraudulent means, he managed to benefit personally from the investors’ funds, living a lavish lifestyle.
He misled investors by claiming that the company was entirely secured by real estate and supported this falsehood by fabricating “collateral documents” that identified certain properties, many of which didn’t exist.
Additionally, Burkhalter exaggerated his connections with well-known real estate developers in Georgia and falsely asserted that his investments were backed by properties in their portfolios.
The fraudulent firm falsely promised “100% passive income from tax liens” via the CORE Fund, guaranteeing a 10% return every six months, or a 22% annual return for up to three years, which snagged at least $4.1 million from investors.
Investigators found that Burkhalter’s deceit started right from the onset of Drive Planning, using the first $50,000 from REAL to pay back initial investors $21,000 in 2020.
He used the funds he misappropriated to fund extravagant personal purchases—including a $2 million yacht, a $2.1 million luxury condo in Cabo San Lucas, Mexico, and $800,000 on multiple high-end vehicles like a 2020 Prevost Marathon motorcoach and two 2024 Land Rovers.
He also splurged millions on private jet charters and $320,000 on clothing, jewelry, and beauty treatments.
In addition, he allocated at least $80,000 of investor money to cover his ex-wife’s legal fees and the costs for a recreational vehicle.
The Securities and Exchange Commission (SEC) began its inquiry into Burkhalter’s company in March 2024; however, he continued to rake in tens of millions of dollars through this scheme until September of the same year.
Prosecutors are pursuing a sentence of 17 and a half years in prison for Burkhalter as part of a plea agreement.
At this moment, a sentencing hearing is yet to be scheduled.
Additionally, David Bradford, the former chief operating officer of Drive Planning, pleaded guilty to conspiracy to commit wire fraud on December 16, 2025, with his sentencing set for March 17.
