Todd Burkhalter, Wire Fraud, Georgia 2024

ATLANTA – A lavish lifestyle, built on deceit and lies, came crashing down for Todd Burkhalter, the founder and CEO of Drive Planning LLC, as he pleaded guilty to wire fraud for orchestrating a massive Ponzi scheme that left thousands of investors high and dry.

Burkhalter’s scheme, which lasted for years, saw him promise investors a 10% return every three months on their investments in the "Real Estate Acceleration Loan" opportunity, known as REAL. He falsely claimed that the investments were fully collateralized by real estate, and even prepared fraudulent "collateral sheets" to back up his lies.

In reality, Burkhalter was running a classic Ponzi scheme, using money from new investors to pay off earlier investors, while lining his own pockets with the proceeds. He also used the names of reputable real estate developers to give his scheme a veneer of legitimacy.

The scheme, which began in September 2020, eventually came to an end in June 2024, when Burkhalter was raided by federal agents and his operation was shut down. In total, Burkhalter and his team managed to scam over 2,000 investors out of $380 million.

According to officials, Burkhalter’s scheme was so brazen that he even continued to scam his victims while under federal investigation. "Todd Burkhalter perpetrated what is likely the largest Ponzi scheme in Georgia history," said U.S. Attorney Theodore S. Hertzberg. "Unbelievably, Burkhalter shamelessly continued to scam his victims even while under federal investigation."

The FBI, which led the investigation, was quick to praise the efforts of its agents in bringing Burkhalter to justice. "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," said Paul Brown, Special Agent in Charge of FBI Atlanta. "The FBI will continue to aggressively pursue those who weaponize fraud and deception against investors, and we are committed to holding them fully accountable and seeking justice for every victim harmed."

As Burkhalter awaits sentencing, he is likely to face a long stretch in prison for his crimes. His guilty plea is a significant step towards justice for the thousands of victims who were left to pick up the pieces after his scheme came crashing down.

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