Financial Advisor’s Massive Ponzi Scheme Exposed: Luxury Lifestyle Funded by $380 Million Fraud

In a shocking case that has rocked the financial world, Todd Burkhalter, a once-trusted financial advisor, has pleaded guilty to orchestrating what prosecutors are calling the largest Ponzi scheme in Georgia’s history. Between September 2020 and June 2024, Burkhalter defrauded more than 2,000 victims out of a staggering $380 million through his advisory firm, Drive Planning LLC, based in Alpharetta, Georgia. U.S. Attorney Theodore S. Hertzberg emphasized the brazen nature of the crime, noting that “Unbelievably, Burkhalter shamelessly continued to scam his victims even while under federal investigation.” The 54-year-old Florida native now faces the consequences of his actions, with prosecutors seeking a 17.5-year prison sentence as part of his plea deal. This case serves as a sobering reminder of how financial predators can exploit trust and promise unrealistic returns to devastate the financial security of thousands.

The mechanics of Burkhalter’s scheme reveal a calculated approach to targeting vulnerable investors and their life savings. Through Drive Planning LLC, he marketed several seemingly attractive investment opportunities, primarily the “Real Estate Acceleration Loan” (REAL) and the “Cash Out Real Estate Fund” (CORE Fund). Burkhalter pitched these investments as “easy and simple” opportunities, specifically encouraging people to invest funds from their retirement and savings accounts—often representing decades of hard-earned money and financial security. The REAL program, which became Drive Planning’s primary investment vehicle, was falsely advertised as a bridge loan that guaranteed investors an impressive 10% return every three months. Similarly deceptive was the CORE Fund, which promised “100% Passive Income from Tax Liens” with guaranteed returns of 10% every six months or 22% annually for up to three years. These promises of extraordinary, guaranteed returns—far exceeding typical market performance—should have been a red flag, but Burkhalter’s persuasive tactics and professional appearance convinced many to entrust him with their financial futures.

To maintain the illusion of legitimacy and security, Burkhalter created an elaborate web of falsehoods designed to reassure investors. He repeatedly claimed that investments were fully collateralized by real estate, fabricating bogus “collateral sheets” that identified properties supposedly backing the investments—some of which never actually existed. In a particularly audacious move, Burkhalter exaggerated his relationships with prominent real estate developers throughout Georgia, falsely claiming that investments were secured by properties in these developers’ portfolios. This name-dropping of respected developers lent an air of credibility and exclusivity to his schemes. The deception was comprehensive and calculated, with prosecutors discovering that Burkhalter’s fraudulent activities began with the very inception of Drive Planning, when he used the first $50,000 from the REAL program to pay off an early investor’s $21,000 debt in 2020—establishing the classic Ponzi scheme structure where new investor money pays returns to earlier investors, creating the illusion of successful investments while no legitimate investment activity occurs.

The most galling aspect of this financial fraud is how Burkhalter shamelessly used his ill-gotten gains to fund an extravagantly lavish lifestyle, all while his victims faced financial ruin. Court records detail how he spent millions on luxury purchases, including a $2 million yacht and a $2.1 million luxury condo in Cabo San Lucas, Mexico. His automotive collection grew to include multiple luxury vehicles worth approximately $800,000, including a 2020 Prevost Marathon motorcoach and two 2024 Land Rovers. When not enjoying his land and sea vehicles, Burkhalter took to the air, spending extravagantly on private jet charters. His personal indulgences extended to approximately $320,000 on clothing, jewelry, and beauty treatments. In a particularly personal misuse of funds, he directed at least $80,000 of investor money to pay his ex-wife’s attorneys and recreational vehicle expenses. While thousands of victims watched their retirement savings and financial security evaporate, Burkhalter was living a life of extraordinary excess—all funded by their misplaced trust and hard-earned money.

What makes this case particularly disturbing is Burkhalter’s persistence in continuing the scheme even as investigations closed in. The Securities and Exchange Commission (SEC) launched an investigation into Drive Planning in March 2024, yet Burkhalter brazenly continued to solicit and accept tens of millions of dollars from new victims until September of that year. This demonstrates not only a calculating criminal mind but a profound disregard for his victims and the law. The human cost of Burkhalter’s actions cannot be overstated—more than 2,000 individuals and families have had their financial security shattered, their retirement plans destroyed, and their trust in financial advisors deeply damaged. Many victims likely face years or decades of financial recovery, if full recovery is possible at all. For elderly victims, the opportunity to rebuild their savings may be permanently lost. Behind each dollar figure in this case is a human story of betrayal, loss, and profound financial anxiety.

The legal consequences are now unfolding for those involved in this massive fraud. While a sentencing hearing for Burkhalter has not yet been scheduled, prosecutors’ recommendation of a 17.5-year sentence reflects the magnitude of his crimes. The investigation has also implicated others within Drive Planning’s leadership, with former chief operating officer David Bradford pleading guilty to conspiracy to commit wire fraud on December 16, 2025. His sentencing is scheduled for March 17. U.S. Attorney Hertzberg emphasized that Burkhalter’s guilty plea represents “just the first step in holding Burkhalter accountable for the considerable harm he caused.” For the victims, however, accountability extends beyond prison sentences—the more pressing concern is whether any meaningful recovery of their lost funds will be possible. As this case progresses through the justice system, it stands as a powerful reminder of the devastating impact of financial fraud and the importance of regulatory oversight in the investment advisory industry. For potential investors everywhere, it reinforces the age-old wisdom that promises of guaranteed high returns should always be approached with extreme caution and thorough due diligence.