Updated · The Atlanta Journal Constitution · Aug 14
Todd Burkhalter Gets 20 Years for $380 Million Drive Planning Ponzi Fraud
Updated
Updated · The Atlanta Journal Constitution · Aug 14
Todd Burkhalter Gets 20 Years for $380 Million Drive Planning Ponzi Fraud
3 articles · Updated · The Atlanta Journal Constitution · Aug 14
Summary
20 years in prison was imposed on Todd Burkhalter after he pleaded guilty to wire fraud in a scheme prosecutors said stole about $380 million from more than 2,000 investors.
Drive Planning, the Alpharetta firm Burkhalter founded, promised returns through loans and real-estate investments but prosecutors said it was a sham from inception, using new investor money to pay earlier investors and commissions.
Judge Tiffany Johnson said victims lost retirement savings, college funds and homes; Burkhalter was also ordered to pay restitution and serve three years of supervised release after prison.
Two other Drive Planning executives were sentenced earlier this week, and the SEC has had the firm in receivership since 2024 as a court-appointed receiver pursues asset sales and investor recoveries.
How did financial watchdogs and auditors completely miss the glaring red flags in Georgia's largest $400 million Ponzi scheme?
With nearly $400 million stolen and only $230 million ordered in restitution, where is the rest of the missing fortune hidden?
Will the devastated victims who drained their life savings be able to recover their money by suing the banks that enabled this fraud?
The $380 Million Drive Planning Ponzi Scheme: Anatomy, Aftermath, and Lessons from Georgia’s Largest Financial Fraud
Overview
From 2020 to 2024, Russell Todd Burkhalter ran a $380 million Ponzi scheme through Drive Planning LLC, defrauding over 2,000 investors with fake real estate programs and unregistered securities. After pleading guilty to wire fraud, Burkhalter was sentenced to 20 years in prison and ordered to pay over $233 million in restitution. His top executives also received prison terms. The court-appointed receiver recovered and liquidated luxury assets, gathering over $73 million for partial victim compensation. Meanwhile, financial advisors and brokers who failed to perform due diligence are now facing lawsuits and arbitration from defrauded investors seeking further recovery.