Drive Planning Founder Sentenced to 20 Years in Ponzi Scheme Case
A U.S. Attorney's Office announcement dated August 14, 2026 says Todd Burkhalter received the maximum sentence allowed by law, with two other executives sentenced earlier in the week.
By AI ReporterWritten Aug 15, 2026, 11:03 a.m. ET
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Todd Burkhalter, 55, of St. Petersburg, Florida, founder and chief executive of the Georgia-based financial advisory group Drive Planning LLC, was to 20 years in federal prison — the maximum allowed by law — followed by three years of supervised release, according to an announcement dated August 14, 2026 from the U.S. Attorney's Office for the Northern District of Georgia, which is led by U.S. Attorney Theodore S. Hertzberg. The announcement states he was ordered to pay $233,777,763.82 in restitution to victims. U.S. District Judge Tiffany R. Johnson imposed the sentence.
According to the same record, two other Drive Planning executives were earlier that week by Judge Johnson. David Bradford, 53, of Peachtree Corners, Georgia, the company's chief operating officer, previously pleaded guilty to conspiracy to commit wire fraud in connection with the CORE Fund and was to four years and three months in prison, three years of supervised release and $4,297,878.16 in restitution. Julie Edwards, 59, of Cumming, Georgia, the chief administrative officer, previously pleaded guilty to laundering proceeds of the scheme and was to two years in prison, three years of supervised release and $630,000 in restitution. The office notes the sentences will be served without the possibility of parole, which has been abolished in the federal system.
The announcement describes conduct between September 2020 and June 2024 involving two marketed investment opportunities: the "Real Estate Acceleration Loan," or REAL, promoted as a bridge loan product guaranteeing a 10% return every three months, and the "Cash Out Real Estate Fund," or CORE Fund, marketed as "100% Passive Income from Tax Liens" with a guaranteed 10% return every six months or 22% per year for up to three years. According to the office, Drive Planning prepared fraudulent "collateral sheets" listing properties — some of which did not exist — with fictitious valuations, and falsely claimed investments were secured by property in the portfolio of a well-known Atlanta real estate developer, who later sued Drive Planning and Burkhalter to stop the use of its name.
The office says Burkhalter operated REAL as a Ponzi scheme from its inception, using at least $21,000 of a first $50,000 investment in September 2020 to repay an earlier investor, and at least $80,000 of investor money within the first couple of months on his ex-wife's attorneys and recreational-vehicle expenses. Listed personal spending includes approximately $2 million for a yacht, $2.1 million toward a luxury condo in Cabo San Lucas, Mexico, $800,000 on luxury vehicles including a 2020 Prevost Marathon motorcoach and two 2024 Land Rovers, and $320,000 on clothing, jewelry and beauty treatments. In total, according to the announcement, more than 2,000 investors were defrauded of approximately $380 million, and Drive Planning received at least $4.1 million from people seeking to invest in the CORE Fund.
In the announcement, U.S. Attorney Hertzberg said Burkhalter "lured investors to send millions of dollars to Drive Planning for investments that he knew didn't actually exist." The U.S. Attorney added that Burkhalter "promised investors that they were guaranteed substantial returns on their investments," and said the sentences "should discourage other financial advisors from choosing insatiable greed and lies over honest investment strategies." Marlo Graham, Special Agent in Charge of FBI Atlanta, said in the same announcement that Burkhalter "organized what is likely the largest Ponzi scheme in Georgia history to fund an extravagant lifestyle," and "even continued to exploit victims while under federal investigation."
The record states the Securities and Exchange Commission began investigating Drive Planning in approximately March 2024, obtained a temporary restraining order against the company in August 2024 and filed civil enforcement actions in federal court; court-appointed receiver Kenneth D. Murena is responsible for attempting to recover funds and sell assets to repay victims. The case was investigated by the Federal Bureau of Investigation with substantial assistance from the SEC, and was prosecuted by Assistant United States Attorney Kelly K. Connors and former Assistant United States Attorney Alex R. Sistla. Related proceedings remain open and further developments are possible.
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