Drive Planning CEO Gets 20 Years for $380 Million Georgia Ponzi Scheme
Updated
Updated · The Augusta Press · Aug 17
Drive Planning CEO Gets 20 Years for $380 Million Georgia Ponzi Scheme
3 articles · Updated · The Augusta Press · Aug 17
Summary
$380 million fraud brought a 20-year federal prison sentence for Drive Planning CEO Todd Burkhalter after he pleaded guilty to wire fraud.
More than 2,000 investors were defrauded in what authorities described as possibly the largest Ponzi scheme in Georgia history.
Burkhalter pleaded guilty in January and was ordered to pay $234 million in restitution.
Two other Drive Planning employees were also sentenced, extending the fallout from a scheme that used false promises and funded yachts, luxury vehicles and private jets.