U.S. Attorney for the Northern District of Georgia Theodore S. Hertzberg announced the plea, stating, “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.”
Drive Planning LLC, based in Alpharetta, Georgia—a suburb north of Atlanta—operated as a financial advisory firm that Burkhalter controlled exclusively. The company marketed several fraudulent investment products, primarily the “Real Estate Acceleration Loan” (REAL) opportunity and the “Cash Out Real Estate Fund” (CORE Fund). Burkhalter pitched these as low-risk, high-return ventures tied to real estate, assuring investors of guaranteed returns and full collateralization.
The REAL program, Drive Planning's flagship offering, was falsely presented as a “bridge loan” opportunity promising a 10% return every three months. Burkhalter encouraged prospective investors—many of whom were everyday individuals tapping retirement accounts, IRAs, savings, or even lines of credit—to view the investment as “easy and simple.” Promotional materials and sales agents trained by Burkhalter emphasized passive income and security backed by real estate properties.
In reality, the scheme operated as a classic Ponzi structure: new investor funds were used to pay purported returns to earlier participants, creating the illusion of profitability. Prosecutors revealed that from the outset, Burkhalter used incoming money to satisfy withdrawals rather than generating legitimate returns through actual investments. The first documented instance occurred in 2020 when $50,000 from early REAL investors was partially diverted to repay a prior investor's $21,000 principal plus returns.
Burkhalter sustained the deception through elaborate falsehoods. He claimed investments were fully collateralized by real estate, fabricating “collateral sheets” that listed nonexistent or unrelated properties. He exaggerated ties to prominent Georgia real estate developers, falsely asserting that funds were secured by portfolios from these developers. For the CORE Fund, which attracted at least $4.1 million, Burkhalter promised “100% Passive Income from Tax Liens” with 10% returns every six months or 22% annually for up to three years—none of which materialized through legitimate activity.
While the fraud generated massive inflows—over $372 million raised according to bank records and internal spreadsheets—Burkhalter diverted substantial sums to fuel an extravagant personal lifestyle. Expenditures included a $2 million yacht, a $2.1 million luxury condominium in Cabo San Lucas, Mexico, and nearly $800,000 on high-end vehicles such as a 2020 Prevost Marathon motorcoach and two 2024 Land Rovers. Additional lavish spending covered private jet charters, millions in luxury travel, $320,000 on clothing, jewelry, and beauty treatments, and even $80,000 to cover his ex-wife's legal fees and recreational vehicle costs.
The scheme's audacity extended to public visibility. In a bold marketing move, Burkhalter paid the Tampa Bay Rays $400,000 for premium sponsorship space behind home plate at Tropicana Field. Bright orange Drive Planning advertisements appeared during broadcasts, bearing the slogan “Keep more, make more and live more.” A June 2024 photo Burkhalter posted from a Rays game against the Chicago Cubs showcased the signage. Following the fraud's exposure, the Rays returned half the payment as part of a court settlement, according to local reports from ABC affiliate WFTS in Tampa Bay.
The unraveling began with regulatory scrutiny. The U.S. Securities and Exchange Commission (SEC) launched an investigation in March 2024, filing a civil complaint in August 2024 detailing the fraud and seeking injunctive relief. Despite this, Burkhalter continued soliciting tens of millions in new investments through September 2024, with daily applications exceeding $1 million at peak times driven by a network of over 100 sales agents.
Burkhalter's guilty plea to wire fraud carries a statutory maximum of 20 years in prison, though under the plea agreement, prosecutors will recommend a sentence of 17½ years. Sentencing is scheduled for a later date before Judge Johnson. The plea follows a related guilty plea by David Bradford, Drive Planning's former chief operating officer, who admitted to conspiracy to commit wire fraud.
The case highlights vulnerabilities in unregulated or lightly supervised investment opportunities, particularly those promising guaranteed high returns in real estate amid economic uncertainty. Victims spanned at least 48 U.S. states and several countries, with significant losses from retirement savings—$66.9 million from such accounts alone as of mid-2024. Many investors were drawn in through seminars, word-of-mouth referrals, and aggressive sales tactics.
Prosecutors emphasized the human toll: shattered retirements, eroded trust in financial advisors, and widespread financial devastation. The FBI, IRS Criminal Investigation, and SEC collaborated on the probe, underscoring interagency efforts to combat large-scale investment fraud.
As restitution proceedings and asset forfeiture efforts continue, authorities are working to recover funds for victims. Drive Planning's operations have ceased, and the company's lack of proper accounting—relying solely on spreadsheets rather than standard financial software—complicated tracking but ultimately aided investigators in mapping the flow of illicit funds.
Burkhalter's case serves as a stark reminder of the risks in high-yield investment schemes and the importance of due diligence, independent verification, and skepticism toward promises of guaranteed returns. Federal officials continue urging affected individuals to contact authorities for assistance in potential victim compensation processes.
