Todd Burkhalter, founder of Drive Planning LLC, was sentenced to 20 years in federal prison for masterminding a $380 million Ponzi scheme. Operating between September 2020 and June 2024, the Georgia financial firm defrauded more than 2,000 investors to fund an extravagant lifestyle of private jets, yachts, and luxury real estate.
A Georgia financial advising executive received a 20-year federal prison sentence for orchestrating what federal authorities describe as likely the largest Ponzi scheme in Georgia history. Todd Burkhalter, 59, the founder of the defunct Alpharetta-based investment firm Drive Planning LLC, learned his fate Friday from U.S. District Judge Tiffany R. Johnson.
Federal prosecutors stated that the scheme defrauded more than 2,000 victims out of approximately $380 million between September 2020 and June 2024. While Burkhalter’s defense attorneys requested a 14-year prison term, federal prosecutors pushed for 17 and a half years pursuant to a January plea deal. Judge Johnson imposed the 20-year sentence.
How Drive Planning Lured Investors With Fabricated Real Estate Schemes
Drive Planning marketed high-yield investment options directly to ordinary individuals without requiring accredited investor status, encouraging targets to draw funds from personal savings, lines of credit, and retirement accounts. The firm’s primary investment vehicles were the Real Estate Acceleration Loan—known as REAL—which promised short-term bridge loans for real estate developers, and the Cash Out Real Estate Fund, marketed as the CORE Fund for passive income from tax liens.
According to the U.S. Representatives falsely claimed the investments carried government protection or full collateralization through real estate. To sustain the fiction, Burkhalter directed staff to compile fraudulent collateral sheets listing inflated valuations for properties, some of which did not exist.
Investigators noted that the operation relied heavily on classic Ponzi mechanics. Within the first few months of marketing the real estate offerings, Burkhalter used incoming capital to pay off earlier investors rather than funding active development projects. The enterprise also drew scrutiny from real estate professionals; a prominent Atlanta developer filed a lawsuit against Drive Planning after discovering the firm was using the developer’s property names without authorization to promote investments.
Yachts, Private Jets, and High-End Personal Spending
Rather than deploying capital into legitimate real estate ventures, Burkhalter diverted millions of dollars from the investor pool into personal luxuries. Federal authorities detailed a spending spree that included purchasing a $2 million yacht, acquiring a $2.1 million condominium in Cabo San Lucas, Mexico, and spending $800,000 on vehicles such as two Land Rovers and a motorcoach.
The financial inflows also financed private jet charters, an $800,000 payment toward his ex-wife’s legal fees, and $320,000 dedicated to jewelry, designer clothing, and beauty treatments. Law enforcement officials emphasized the brazen nature of the operation, pointing out that Burkhalter continued soliciting money even as federal investigators closed in.
“Todd Burkhalter perpetrated what is likely the largest Ponzi scheme in Georgia history. 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.”
Theodore S. Hertzberg, U.S. Attorney for the Northern District of Georgia
Special Agent in Charge of FBI Atlanta Marlo Graham echoed those sentiments, stating that Burkhalter organized the massive fraud to sustain an extravagant lifestyle while exploiting victims throughout the federal probe.
Sentences Handed Down to Drive Planning Executives
The collapse of Drive Planning resulted in guilty pleas and prison terms for multiple members of its leadership team. David Bradford, a 53-year-old pastor and father of six who admitted helping orchestrate the CORE Fund ruse that stole $4.1 million from investors, was sentenced Wednesday in Atlanta federal court to just over four years in prison.
Bradford, who met several victims through church ties, addressed the court regarding his participation in the conspiracy.
“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.”
David Bradford
Judge Johnson ordered Bradford to pay $4,297,878.16 in restitution. Additionally, Chief Administrative Officer Julie Edwards received a two-year prison sentence for laundering proceeds from the enterprise, including using $630,000 of investor funds to buy a home in Cumming, Georgia. All three convicted executives face three years of supervised release following their prison terms, while Drive Planning itself remains wrapped up in court-ordered receivership.
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