A monetary advisor is accused of working the biggest Ponzi scheme in Georgia’s historical past to fund a lavish life-style, which included buying a yacht, a multi-million-dollar apartment in Mexico, luxurious autos, jewellery, and chartering non-public jets.
Todd Burkhalter pleaded responsible to defrauding over 2,000 victims for greater than $380 million between September 2020 and June 2024, in line with US Legal professional Theodore S. Hertzberg on Wednesday.
“Unbelievably, Burkhalter shamelessly continued to rip-off his victims even whereas below federal investigation,” Hertzberg stated. “Right this moment’s responsible plea is simply step one in holding Burkhalter accountable for the appreciable hurt he triggered.”
The 54-year-old Florida native based advisory agency Drive Planning LLC and used the corporate — based mostly in Alpharetta, Ga. — to focus on a number of funding alternatives, together with the “Actual Property Acceleration Mortgage” alternative (“REAL”) and the “Money Out Actual Property Fund” (“CORE Fund”).
Burkhalter informed potential buyers that it was “straightforward and easy” to put money into the funds and inspired them to make use of funds from retirement and financial savings accounts.
Burkhalter used the REAL as Drive Planning’s main funding automobile and “fraudulently marketed as a bridge mortgage” that assured buyers a ten% return each three months.
All through the rip-off, Burkhalter profitted off of buyers and mortgage funds to make private purchases to gasoline his luxurious life-style.
He deceived buyers by claiming the corporate was totally collateralized by actual property, and backed the lies by creating bogus “collateral sheets” that recognized the properties, a few of which by no means existed.
Burkhalter additionally exaggerated his relationship with outstanding actual property builders round Georgia, falsely claiming the investments have been secured by properties within the developer’s portfolio.
The deceitful firm falsely claimed it supplied “100% Passive Earnings from Tax Liens” from the CORE Fund and assured buyers a return of 10% each six months or a 22% return per yr for as much as three years.
The corporate acquired not less than $4.1 million from buyers within the CORE Fund.
Prosecutors discovered Burkhalter’s deceptions started from the inception of Drive Planning, the place he used the primary $50,000 from REAL to repay an early investor’s $21,000 in 2020.
Burkhalter used the cash he scammed from buyers to make lavish purchases for his private life, together with a $2 million yacht, $2.1 million luxurious apartment in Cabo San Lucas, Mexico and $800,000 spent on a number of luxurious autos that included a 2020 Prevost Marathon motorcoach and two 2024 Land Rovers.
Burkhalter additionally spent thousands and thousands on luxurious journey, chartering non-public jets and $320,000 on clothes, jewellery and sweetness remedies.
He would later use not less than $80,000 in investor funds to repay his ex-wife’s attorneys and leisure automobile bills.
The Securities and Change Fee (SEC) launched an investigation into the conman’s firm in March 2024, however Burkhalter continued taking tens of thousands and thousands of {dollars} by means of the scheme till September of that yr.
Prosecutors are searching for a 17 and a half yr jail sentence for Burkhalter as a part of his plea deal.
A sentencing listening to hasn’t been scheduled.
Drive Planning’s former chief working officer, David Bradford, pleaded responsible to conspiracy to commit wire fraud on December 16, 2025. His sentencing is scheduled for March 17.
