Drive Planning CEO Sentenced to 20 Years for $380M Ponzi Scheme

Todd Burkhalter, founder and CEO of the Alpharetta-based financial advisory firm Drive Planning, was sentenced Friday, August 15, 2026, to 20 years in federal prison for orchestrating a $380 million Ponzi scheme. According to the U.S. Attorney’s Office for the Northern District of Georgia, Burkhalter defrauded more than 2,000 investors between 2020 and 2024 by promising guaranteed 10% returns every three months.

The collapse of Drive Planning leaves a massive liquidity void for thousands of retail investors, many of whom liquidated retirement accounts or borrowed at high interest rates to participate.

Maximum Sentencing for Georgia’s Largest Ponzi Scheme

Federal prosecutors secured the maximum sentence allowed by law for Burkhalter, 55, who pleaded guilty in January to conspiracy to commit wire fraud. In addition to the 20-year prison term, the court ordered Burkhalter to pay nearly $234 million in restitution to his victims. The sentence will be served without the possibility of parole, as parole has been abolished in the federal system, according to the U.S. attorney’s office.

The scale of the fraud is historic. Marlo Graham, special agent in charge of FBI Atlanta, stated that Burkhalter organized what is likely the largest Ponzi scheme in Georgia history. The scheme operated by marketing “REAL” as a bridge-loan investment vehicle, though U.S. Attorney Theodore Hertzberg noted that the investments Burkhalter lured clients into “didn’t actually exist.”

Burkhalter’s appetite for capital extended beyond standard investment pitches. Hertzberg stated that the CEO ruthlessly encouraged investors to deplete children’s college funds and take early distributions from retirement accounts to feed the scheme.

The Cost of Extravagance and Corporate Collusion

While investors believed their capital was securing 10% returns every three months, the funds were diverted to support a high-end lifestyle. UPI reports that Burkhalter spent investor money on a $2 million yacht, a $2.1 million luxury condo in Cabo San Lucas, Mexico, and $800,000 in vehicles.

Burkhalter did not act alone. Two other high-ranking executives at Drive Planning received sentences earlier this week for their roles in the conspiracy:

• David Bradford: The Chief Operating Officer was sentenced to four years and three months in prison and ordered to pay nearly $4,298,000 in restitution after pleading guilty to conspiracy to commit wire fraud.
• Julie Edwards: The Chief Administrative Officer received a two-year prison sentence and was ordered to pay $630,000 in restitution for laundering proceeds of the scheme.

Continued Solicitation Under Federal Investigation

One of the most aggressive aspects of the fraud occurred in early 2024. According to the U.S. Attorney’s Office for the Northern District of Georgia, Burkhalter and others continued to solicit tens of millions of dollars from investors even after the Securities and Exchange Commission (SEC) had launched an investigation into Drive Planning.

Market Implications for Financial Advisory Standards

The Drive Planning case serves as a reminder of the risks associated with “guaranteed” high-yield returns. Any promise of a consistent 10% return every three months should be viewed as a red flag for fraud.