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The CEO of a monetary advisory empire, accused of masterminding Georgia’s largest Ponzi scheme to fund a lifetime of opulent extravagance, has pleaded responsible to “shamelessly” bilking traders out of a staggering $380 million, authorities introduced Wednesday.
The U.S. Lawyer’s Workplace for the Northern District of Georgia stated 54-year-old Todd Burkhalther, founding father of Drive Planning LLC, defrauded greater than 2,000 individuals between September 2020 and June 2024.
He reportedly used the stolen funds to constitution personal jets, purchase a yacht, a multimillion-dollar apartment in Mexico, lavish wardrobe, and luxurious automobiles equivalent to Land Rovers and a leisure car.
The previous trusted advisor, of St. Petersburg, Florida, pleaded responsible to wire fraud, in response to officers. He’s considered one of two executives, together with the corporate’s former COO, who admitted enjoying a job within the yearslong Ponzi scheme, the lawyer’s workplace stated.
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Todd Burkhalther smiles after a visit via Boston, New Hampshire, New Jersey and Philadelphia, in response to his Instagram. (@toddburkhalter/Instagram)
“Todd Burkhalter perpetrated what is probably going the most important Ponzi scheme in Georgia historical past,” U.S. Lawyer Theodore S. Hertzberg stated. “Unbelievably, Burkhalter shamelessly continued to rip-off his victims even whereas beneath federal investigation. Right now’s responsible plea is simply step one in holding Burkhalter accountable for the appreciable hurt he brought on.”
“Todd Burkhalter constructed an enormous Ponzi scheme on lies, exploiting belief to steal tons of of thousands and thousands of {dollars} from greater than 2,000 victims whereas funding an extravagant way of life,” Paul Brown, particular agent in control of FBI Atlanta, stated.
In response to federal investigators, Drive Planning lured atypical individuals by claiming they didn’t should be accredited traders to take part and inspired them to take a position cash from retirement accounts, financial savings and contours of credit score.
Todd Burkhalther prepares to fly to Houston, Texas, in a chartered personal jet. (@toddburkhalter/Instagram)
Burkhalter then promised excessive returns, together with a ten% return each three months from a fabricated actual property mortgage and a 22% annual return from tax liens, whereas falsely claiming that traders’ cash was government-protected or absolutely collateralized by actual property, officers stated.
To perpetuate the lies, Burkhalter reportedly created a listing of imaginary or irrelevant properties with fabricated valuations to current as collateral.
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Todd Burkhalther stands as much as give a speech in entrance of a giant gathering throughout dinner. (Todd Burkhalther/Instagram)
Burkhalter and Drive Planning additionally misrepresented the scope of their relationships with actual property builders, federal investigators stated. As an example, a distinguished Atlanta developer reportedly found that Burkhalter was utilizing the property’s title to advertise Drive Planning and subsequently sued the corporate.
Authorities stated Burkhalter didn’t use traders’ cash for its supposed function. Throughout the first few months of promoting his actual property choices, he allegedly used the funds to repay an earlier Drive Planning investor, cowl his ex-wife’s authorized charges and pay bills associated to leisure automobiles.
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If Burkhalter meets the situations of his plea settlement, prosecutors will advocate that the choose sentence him to at the very least 17 years in jail.
His former colleague, David Bradford, additionally pleaded responsible to conspiracy to commit wire fraud on Dec. 16, 2025, officers stated. His sentencing listening to is scheduled for March 17.
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