⏱ 3 min read
Todd Burkhalter, the CEO of Georgia-based financial advisory group Drive Planning, orchestrated a massive $380 million Ponzi scheme that duped thousands of investors across the country. Between September 2020 and June 2024, Burkhalter and his cohorts marketed fake investment opportunities, including the ‘Real Estate Acceleration Loan’ and ‘Cash Out Real Estate Fund’, promising guaranteed returns to unsuspecting investors in Georgia and beyond. The scheme was fueled by Burkhalter’s insatiable greed, with investors encouraged to deplete their life savings, take out high-interest loans, and even tap into their children’s college funds.
The FBI launched an investigation into Drive Planning, but Burkhalter continued to exploit victims even after being caught. The agency, along with the DOJ, worked tirelessly to bring the perpetrators to justice. U.S. Attorney Theodore S. Hertzberg condemned Burkhalter’s actions, stating that he ‘lured investors to send millions of dollars to Drive Planning for investments that he knew didn’t actually exist’.
As a result of the investigation, Burkhalter was sentenced to 20 years in federal prison, the maximum allowed by law. Two other top executives, David Bradford and Julie Edwards, were also sentenced to federal prison for their roles in the scheme. The sentences serve as a warning to other financial advisors who may be tempted to engage in similar fraudulent activities.
The FBI’s Special Agent in Charge, Marlo Graham, emphasized the agency’s commitment to pursuing fraudsters like Burkhalter and seeking justice for every victim. The $380 million Ponzi scheme is likely the largest in Georgia history, and its collapse has left thousands of investors reeling.
📋 Key Facts
- Crime: White Collar Crime
- Defendant: Georgia
- Location: GA
- Source: DOJ Press Release
