Georgia CEO Todd Burkhalter Sentenced to 20 Years for $380M Ponzi Scheme
Todd Burkhalter, the former CEO of Alpharetta-based financial advisory group Drive Planning, was sentenced on Friday, August 15, 2026, to 20 years in federal prison for orchestrating a $380 million Ponzi scheme that defrauded more than 2,000 investors.
The Collapse of Drive Planning and the Federal Sentence
Federal prosecutors in the Northern District of Georgia secured the maximum sentence allowed by law for the 55-year-old executive, who pleaded guilty in January to conspiracy to commit wire fraud. According to the U.S. Attorney’s Office, Burkhalter operated the fraudulent enterprise from September 2020 through June 2024, pitching non-existent investments that allegedly guaranteed a 10% return every three months.
Instead of generating legitimate yield, Burkhalter diverted victim capital to fund an extravagant personal lifestyle. According to yahoo.com, purchases included a $2 million yacht, a $2.1 million luxury condo in Cabo San Lucas, Mexico, and $800,000 in vehicles. In addition to his two-decade prison term without the possibility of parole, Burkhalter is required to pay nearly $234 million in restitution to victims, alongside three years of supervised release.
The scheme targeted retail investors, with prosecutors noting that Burkhalter explicitly pushed clients to liquidate their children’s college funds, take early distributions from retirement accounts, and borrow substantial sums at high interest rates. Even after the U.S. Securities and Exchange Commission initiated an investigation into Drive Planning in early 2024, Burkhalter and others continued soliciting tens of millions of dollars from new participants.
Co-Defendants and Corporate Fallout
The dismantling of Drive Planning involved federal charges against key executives who enabled the fraud. Chief Operating Officer David Bradford, 53, pleaded guilty to conspiracy to commit wire fraud and received a sentence earlier in the week of four years and three months in prison, followed by three years of supervised release. Bradford was ordered to pay nearly $4.298 million in restitution.
Simultaneously, Chief Administrative Officer Julie Edwards, 59, was sentenced to two years in prison followed by three years of supervised release after pleading guilty to laundering proceeds of the Ponzi scheme. Edwards was ordered to pay $630,000 in restitution. Federal authorities emphasized that these custodial terms carry no possibility of parole, as the federal penal system has abolished parole entirely.
Law Enforcement Response and Market Impact
Local and federal agencies underscored the scale of the fraud during Friday’s sentencing announcements. Theodore Hertzberg, the U.S. Attorney for the Northern District of Georgia, characterized Burkhalter’s actions as driven by insatiable greed that deliberately targeted the financial security of everyday families.
Marlo Graham, special agent in charge of FBI Atlanta, noted that Burkhalter organized what is likely the largest Ponzi scheme in Georgia history. Graham highlighted the brazen nature of the operation, pointing out that the former CEO continued exploiting victims even while actively under federal investigation.