A Georgia financial advising CEO was sentenced Friday to 20 years behind bars for masterminding a $380 million Ponzi scheme to fund his lavish lifestyle of yachts, private jets and luxury shopping.
Todd Burkhalter, the founder of Atlanta-area Drive Planning LLC, orchestrated one of Georgia’s largest schemes and stole millions from over 2,000 investors in the years-long con.
Burkhalter, 59, was ordered to serve two decades in federal prison by US District Court Judge Tiffany R. Johnson, while two of his executives were sentenced to less than five years for their roles this week.
Burkhalter’s attorneys had asked for a 14-year sentence while federal prosecutors recommended 17 and a half years as part of a plea deal back in January.
“Todd Burkhalter organized what is likely the largest Ponzi scheme in Georgia history to fund an extravagant lifestyle. He even continued to exploit victims while under federal investigation,” Special Agent in Charge of FBI Atlanta Marlo Graham said.
The Florida executive had pleaded to wire fraud charges following a years-long investigation into the shady ventures.
Between September 2020 and June 2024, Drive Planning marketed investment opportunities to potential investors to secure nearly $400 million in funds, even immediately using the money to pay off early investors.
Burkhalter then used the pool of cash for high-end personal spending, including buying a $2 million yacht, a $2.1 million condo in Cabo San Lucas, Mexico, dropped $800,000 on vehicles, including a motorcoach and two Land Rovers.
He also spent millions on luxury travel, chartering private jets, $800,000 to pay his ex-wife’s attorney and another $320,000 on clothing, jewelry, and beauty treatments.
Two of the investment options pushed on victims were the “Real Estate Acceleration Loan” opportunity (“REAL”) and the “Cash Out Real Estate Fund” (“CORE Fund”)
Burkhalter and crew claimed the investments were “easy and simple,” and encouraged their victims to use money from retirement accounts, savings, and lines of credit.
REAL was the primary investment vehicle Burkhalter used in the scheme as short term-loans – bridge loans – while CORE Fund was promised to provide “100% Passive Income from Tax Liens.”
“Burkhalter and Drive Planning deceived investors into believing their investments were safe by claiming they were fully collateralized by real estate,” the Northern Georgia US Attorney’s Office said. “To perpetuate these lies, Burkhalter directed Drive Planning to prepare fraudulent ‘collateral sheets’ identifying properties—some of which did not even exist— with fictitious valuations that purportedly served as collateral for investments.”
Drive Planning COO David Bradford helped Burkhalter in the CORE Fund ruse that stole $4.1 million from investors
Bradford, a 53-year-old pastor and father of six, pleaded guilty in December to conspiracy to commit wire fraud.
He was sentenced to four years behind bars and was ordered to pay $4,297,878.16 in restitution to victims, some of whom he had met in church.
Bradford branded himself a “coward” for being a part of the scheme.
“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,” he said during his sentencing hearing.
Drive Planning Chief Administrative Officer Julie Edwards was sentenced to two years in federal prison for her role in the scheme of laundering proceeds and used $630,000 of the investors’ funds to purchase a home in Cumming, Ga.
All three con artists will face three years of supervised release after their prison sentences.
