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Posted on 01/22/2026 4:02:50 AM PST by DFG
A financial group chief executive is accused of running the largest Ponzi scheme in Georgia’s history to fund a lavish lifestyle, which included purchasing a yacht, a multi-million-dollar condo in Mexico, luxury vehicles, jewelry, and chartering private jets.
Todd Burkhalter, the CEO of Drive Planning LLC., pleaded guilty to defrauding over 2,000 victims for more than $380 million between September 2020 and June 2024, according to US Attorney Theodore S. Hertzberg on Wednesday.
“Unbelievably, Burkhalter shamelessly continued to scam his victims even while under federal investigation,” Hertzberg said. “Today’s guilty plea is just the first step in holding Burkhalter accountable for the considerable harm he caused.”
The 54-year-old Florida native used the company — based in. Alpharetta, Ga., — to target several investment opportunities, including the “Real Estate Acceleration Loan” opportunity (“REAL”) and the “Cash Out Real Estate Fund” (“CORE Fund”).
Burkhalter told prospective investors that it was “easy and simple” to invest in the funds and encouraged them to use funds from retirement and savings accounts.
Burkhalter used the REAL as Drive Planning’s primary investment vehicle and “fraudulently marketed as a bridge loan” that guaranteed investors a 10% return every three months.
Throughout the scam, Burkhalter profitted off of investors and loan funds to make personal purchases to fuel his luxury lifestyle.
He deceived investors by claiming the company was fully collateralized by real estate, and backed the lies by creating bogus “collateral sheets” that identified the properties, some of which never existed.
Burkhalter also exaggerated his relationship with prominent real estate developers around Georgia, falsely claiming the investments were secured by properties in the developer’s portfolio.
(Excerpt) Read more at nypost.com ...
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"Todd Burkhalter pleaded guilty to defrauding over 2,000 victims for more than $380 million between September 2020 and June 2024."
Yeah, he looks as trustworthy as Appalachian gas station sushi
He’ll make an excellent boyfriend for all of the love starved convicts.
> guaranteed investors a 10% return every three months <
If it sounds too good to be true, it’s not true.
Pretty simple, eh?
People that gave him money are as guilty as he is for being so dumb.
He would have delivered if the Nigerian former Prime Minister’s nephew’s personal physician Obianuju Acholonu has deposited the inherited funds in his account. But, alas, the customs people blocked the fund transfers and now the money is still in Swiss banks waiting for some lucky person to fund the legal cost needed to release the funds.
So it was really just a misunderstanding.
If it were my entire retirement funds, which I would never do in the first place, his last worry would be about his potential cell mate.
He’ll sell you a car.
General Burkhalter?
Send him to the Russian Front.
I’m sorry, but we are going to have to start hanging thieves.
There are just too many of them.
😂
Yup—the people he ripped off now get to pay for his room and board with taxes—one final insult.
People that gave him money are as guilty as he is for being so dumb.
“US spot Bitcoin ETFs saw $708.7 million in outflows over three days, marking the largest single-day exit in two months. BlackRock’s ETF led with $356.6 million outflow.”
Would have been safer for him to open up a chain of Somali daycare centers, medical transport companies, Autism centers for children, and home health care companies. Better ROI since he could have used the same address, no employees overhead costs, and just a monthly kickback to regulators and politicians.
Only $380 million!
————————————————— wiki
United States prosecutors called it a three-billion-dollar Ponzi scheme.[11] Allegedly assisting Armstrong in his scheme was the Republic New York Corporation, which produced false account statements to reassure Armstrong’s investors. In 2001, the bank agreed to pay $606 million as restitution for its part in the scandal.[11]
Armstrong was indicted in 1999
Poor guy’s getting hassled by l/e.
Shoulda opened a chain of Somali daycare centers,
<><>medical transport companies,
<><>Autism centers for children,
<><>and home health care companies.
A much better ROI —— mega-tax dollars
<><>he could have used the same address,
<><>there’d be no employees (overhead costs),
<><>just a monthly kickback to govt regulators
<><>and payoffs to politicians.
“Key facts today.
“US spot Bitcoin ETFs saw $708.7 million in outflows over three days, marking the largest single-day exit in two months. BlackRock’s ETF led with $356.6 million outflow.”
Too bad you missed the ride. $1,000 invested in bitcoin back when you said to get out at $5 would be $17,600,000 now!
Looks like the type of guy I wouldn’t give 2 cents of my money to.
His kids must be so mortified.
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