Todd Burkhalter, founder and CEO of Drive Planning LLC, has pleaded guilty to wire fraud after leading a Ponzi scheme that resulted in losses of hundreds of millions of dollars for thousands of investors. The announcement was made by the U.S. Attorney for the Northern District of Georgia, which serves as the principal federal law enforcement agency in the region and handles both criminal prosecutions and civil cases on behalf of the United States. The office is based in Atlanta and manages cases with both national and international reach, serving about 7.5 million residents across north Georgia, including the Atlanta suburbs and areas bordering Alabama and the Carolinas, according to its official website.
“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. Today’s guilty plea is just the first step in holding Burkhalter accountable for the considerable harm he caused.”
Paul Brown, Special Agent in Charge of FBI Atlanta, stated: “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. 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.”
According to court documents presented by U.S. Attorney Hertzberg, between September 2020 and June 2024 Drive Planning promoted investment opportunities such as “Real Estate Acceleration Loan” (REAL) and “Cash Out Real Estate Fund” (CORE Fund). These were marketed as simple investments not requiring accreditation status from participants, with claims that funds could come from retirement accounts or savings.
Drive Planning falsely claimed that REAL was a bridge loan opportunity guaranteeing a 10% return every three months with full collateralization by real estate assets. To support these claims, fraudulent collateral sheets were prepared listing properties—some fictitious—with false valuations.
The company also misrepresented its relationship with real estate developers by falsely stating investments were secured by properties belonging to a well-known developer (“Real Estate Developer-1”). When this developer learned their name was being used without authorization they took legal action against Drive Planning.
For CORE Fund investors were told they would receive passive income from tax liens with guaranteed returns up to 22% per year over three years; however funds were not invested as promised after December 9, 2022.
Burkhalter operated REAL as a Ponzi scheme from its start—using new investor money to pay earlier ones—and diverted funds for personal use including purchasing luxury items such as yachts ($2 million), condos ($2.1 million), vehicles ($800,000), private jet travel (millions), clothing/jewelry/beauty treatments ($320,000), among other expenditures.
Even after an SEC investigation began in March 2024 Burkhalter continued soliciting tens of millions more in investments. In total over $380 million was defrauded from more than 2,000 investors.
In August 2024 the SEC obtained a temporary restraining order against Drive Planning and filed civil enforcement actions related to this scheme; court-appointed receiver Kenneth D. Murena is now tasked with recovering funds for victims.
Sentencing for Todd Burkhalter will be set at a later date before U.S. District Judge Tiffany R. Johnson; prosecutors have agreed conditionally to recommend a sentence of seventeen-and-a-half years but final sentencing remains at judicial discretion based on federal guidelines.
David Bradford former chief operating officer at Drive Planning previously pleaded guilty for conspiracy related to CORE Fund activities; his sentencing is scheduled for March 17, 2026.
The case continues under investigation by the Federal Bureau of Investigation with assistance from the Securities and Exchange Commission; prosecution is led by Assistant U.S. Attorney Alex R. Sistla.
More information about the work handled by the U.S. Attorney’s Office—including efforts focused on prosecuting threats like fraud—is available on their website.
