Business
CEO Todd Burkhalter pleads guilty in Georgia Ponzi scheme fraud case
Check out what’s clicking on FoxBusiness.com.
The CEO of a financial advisory empire accused of masterminding Georgia’s largest Ponzi scheme to fund a life of opulent extravagance has pleaded guilty to “shamelessly” bilking investors out of a staggering $380 million, authorities announced Wednesday.
The U.S. Attorney’s Office for the Northern District of Georgia said 54-year-old Todd Burkhalther, founder of Drive Planning LLC, defrauded more than 2,000 people between September 2020 and June 2024.
He reportedly used the stolen funds to charter private jets and buy a yacht, a multimillion-dollar condo in Mexico, a lavish wardrobe and luxury vehicles like Land Rovers and an RV.
The former trusted advisor of St. Petersburg, Florida, pleaded guilty to wire fraud, according to officials. He is one of two executives, including the company’s former COO, who admitted playing a role in the yearslong Ponzi scheme, the attorney’s office said.
TEXAS COUPLE LABELED FAKE ‘CHIP AND JOANNA GAINES’ ADMITS $5M DREAM HOME RENOVATION SCAM
Todd Burkhalther smiles after a trip through Boston, New Hampshire, New Jersey and Philadelphia, according to his Instagram. (@toddburkhalter/Instagram)
“Todd Burkhalter perpetrated what is likely the largest Ponzi scheme in Georgia history,” U.S. Attorney Theodore S. Hertzberg said. “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.”
“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,” Paul Brown, special agent in charge of FBI Atlanta, said.
According to federal investigators, Drive Planning lured ordinary people by claiming they did not need to be accredited investors to participate and encouraged them to invest money from retirement accounts, savings and lines of credit.
Todd Burkhalther prepares to fly to Houston, Texas, in a chartered private jet. (@toddburkhalter/Instagram)
Burkhalter then promised high returns, including a 10% return every three months from a fabricated real estate loan and a 22% annual return from tax liens, while falsely claiming that investors’ money was government-protected or fully collateralized by real estate, officials said.
To perpetuate the lies, Burkhalter reportedly created a list of imaginary or irrelevant properties with fabricated valuations to present as collateral.
OLDER AMERICANS LOST UP TO $81.5 BILLION IN THE PAST YEAR TO FINANCIAL FRAUD, FTC REPORT SAYS
Todd Burkhalther stands up to give a speech in front of a large gathering during dinner. (Todd Burkhalther/Instagram)
Burkhalter and Drive Planning also misrepresented the scope of their relationships with real estate developers, federal investigators said. For instance, a prominent Atlanta developer reportedly discovered that Burkhalter was using a property’s name to promote Drive Planning and subsequently sued the company.
Authorities said Burkhalter did not use investors’ money for its intended purpose. Within the first few months of marketing his real estate offerings, he allegedly used the funds to repay an earlier Drive Planning investor, cover his ex-wife’s legal fees and pay expenses related to recreational vehicles.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
If Burkhalter meets the conditions of his plea agreement, prosecutors will recommend that the judge sentence him to at least 17 years in prison.
His former colleague, David Bradford, also pleaded guilty to conspiracy to commit wire fraud Dec. 16, 2025, officials said. His sentencing hearing is scheduled for March 17.
