CEO Sentenced To 20 Years For $380 Million Ponzi Scheme

A CEO who wrote a book on making finances "bulletproof" has just been sentenced to 20 years in prison for scamming thousands of people out of $380 million. Todd Burkhalter received this maximum penalty on Friday at the Northern District of Georgia federal court after prosecutors proved he ran a Ponzi scheme that defrauded more than 2,000 investors. He will serve his time without the possibility of parole.

Burkhalter led Drive Planning LLC, a Georgia-based financial advisory group that marketed fake investment deals for years. These fraudulent opportunities simply paid previous investors using money from new victims. US Attorney Theodore Hertzberg stated in a press release that Burkhalter "lured investors to send millions of dollars to Drive Planning for investments that he knew didn't actually exist."

Hertzberg added that these sentences should warn other financial advisors against choosing greed and lies over honest strategies. Marlo Graham, the special agent in charge of FBI Atlanta, called it likely the largest Ponzi scheme in Georgia history used to fund an extravagant lifestyle. Burkhalter spent $2 million of stolen funds on a yacht alone.

He also bought luxury vehicles worth $800,000, including two 2024 Land Rovers and a 2020 Prevost Marathon motorcoach. The fraudster splurged another $320,000 on clothing, jewelry, and beauty treatments. He spent even more to cover part of a luxury condo purchase in Mexico and millions on private jet charters for global travel.

In April 2020, about six months before starting the scam, Burkhalter published his book, 'Bullet Proof Your Finances.' It was marketed as a guide to designing the financial life you desire. Between September 2020 and June 2024, he pushed people to invest in two fake real estate deals called REAL and CORE Fund.

The fraudster promised investors a 10 percent return every three months for REAL. For the CORE Fund, he offered a 10 percent return every six months or 22 percent annually for up to three years. Prosecutors said he urged victims to pull money from children's college funds and retirement accounts to invest. He even told them to take out high-interest loans just to buy in.

Burkhalter claimed his REAL deal offered short-term loans to developers needing cash for projects. He convinced everyone the opportunity was safe by saying investments were fully protected by real estate collateral. The evidence showed he used fake proof that all investments backed actual property when they did not exist at all.

The man pictured at a corporate gathering was actually orchestrating a massive theft from unsuspecting people. He handed prospective investors fake collateral sheets promising properties they would get if their money went south. Those properties either never existed or he did not own them at all. The CORE Fund lied by claiming returns came entirely from 100% passive tax lien income. Prosecutors say it was government protected and fully backed, which turned out to be a complete fabrication.

An Atlanta-based realtor eventually caught on after seeing their name and property portfolio used in these forged documents. They sued Burkhalter and Drive Planning immediately upon realizing the deception. From day one, REAL functioned as a classic Ponzi scheme according to federal prosecutors. Once the fund took its first $50,000 investment, Burkhalter handed $21,000 back to pay off an earlier investor just to keep the illusion alive.

Within months of marketing this scam, Burkalter spent at least $80,000 on legal fees for his ex-wife and recreational vehicle costs using investor cash. Not a single dollar invested actually funded real estate opportunities as promised by the fraudsters. Even after the Securities and Exchange Commission launched an investigation in March 2024, Drive Planning kept taking tens of millions more. The SEC finally stopped this chaos in August 2024 with a temporary restraining order and federal civil enforcement actions.

Burkhalter published a book titled Bulletproof Your Finances back in April 2020 to sell his fake financial expertise. It marketed itself as a step-by-step guide to designing the financial life anyone desired, but it was built on lies. He faces nearly $234 million in restitution orders alongside a twenty-year prison sentence after getting caught. Three years of supervised release await him once he leaves federal custody next year.

Two other former leaders from Drive Planning also landed behind bars earlier this week. David Bradford served as chief operating officer and received four years and three months for conspiring to commit wire fraud. He must pay back nearly $4.3 million to the victims who trusted his promises. Julie Edwards, the chief administrative officer, got two years in prison after pleading guilty to laundering scheme proceeds. She owes $630,000 to repay those she defrauded during her time with the company.

A court-appointed receiver now manages efforts to recover funds and sell Drive Planning assets for repayment. The goal is to make things right for more than 2,000 victims who lost their life savings. This story shows how quickly financial advice can turn into criminal activity when greed takes over completely.