The head of a purported real estate investment firm — and author of a personal finance book titled Bullet Proof Your Finances — has been sentenced to 20 years in federal prison for orchestrating a massive Ponzi scheme.
Todd Burkhalter received the sentence Friday in the Northern District of Georgia after prosecutors said he cheated more than 2,000 investors out of roughly $380 million.
The 20-year term is the maximum punishment available under his charges, and Burkhalter will serve it without the possibility of parole.
Burkhalter led Drive Planning LLC, a Georgia-based financial advisory business that, according to prosecutors, promoted fake investment opportunities for years while using money from newer investors to pay earlier ones.
‘Todd Burkhalter lured investors to send millions of dollars to Drive Planning for investments that he knew didn’t actually exist,’ US Attorney Theodore Hertzberg said in a statement released by the US Attorney’s Office.
‘The sentences in this case should discourage other financial advisors from choosing insatiable greed and lies over honest investment strategies,’ Hertzberg added.
Marlo Graham, special agent in charge of FBI Atlanta, said Burkhalter used ‘what is likely the largest Ponzi scheme in Georgia history to fund an extravagant lifestyle.’
Prosecutors said Burkhalter spent investor money lavishly, including $2 million on a yacht, $800,000 on luxury vehicles — among them two 2024 Land Rovers and a 2020 Prevost Marathon motorcoach — and $320,000 on clothing, jewelry and beauty treatments.
Todd Burkhalter, the CEO of a fraudulent real estate investment company, has been sentenced to 20 years in federal prison for running a Ponzi scheme
Burkhalter was convicted of defrauding more than 2,000 victims out of around $380 million. He is pictured on a beach
Burkhalter (second left) spent millions of dollars of investor money to fund an extravagant lifestyle. He is pictured in front of a private jet
He also spent $2.1 million to cover part of the purchase of a luxury condo in Mexico and millions more on luxury travel, including chartering private jets.
In April 2020, about half a year before he began his Ponzi scheme, Burkhalter published ‘Bullet Proof Your Finances,’ a financial advice book that was marketed as ‘a step by step guide to designing the financial life that you desire.’
Between September 2020 and June 2024, Burkhalter encouraged people to invest in two primary fake real estate investment opportunities at Drive Planning.
The schemes were called the ‘Real Estate Acceleration Loan’ or ‘REAL,’ and the ‘Cash Out Real Estate Fund’ or ‘CORE Fund.’
The fraudster promised a 10 percent return every three months for REAL, and a 10 percent return every six months, or a 22 percent return every year for up to three years, for the CORE Fund.
He encouraged people to take money from their children’s college funds and retirement accounts, and to take out loans at high interest rates, so they could invest in the opportunities, prosecutors said.
Burkhalter claimed that REAL offered short-term loans to developers who needed immediate cash to complete existing projects or fund new ones.
He convinced victims that the opportunity was safe by claiming any investments were fully protected by collateralized real estate.
Burkhalter (right) convinced people to invest by providing fake proof that all investments were collateralized by real estate properties. He is pictured promoting his Ponzi scheme
Burkhalter (left) marketed two main fraudulent investment opportunities between September 2020 and June 2024. He is pictured at a company event
The fraudster would show prospective investors ‘collateral sheets’ with properties they would receive if their investments went south, but he either did not own the properties or they simply did not exist.
The CORE Fund falsely claimed that its returns were provided by ‘100% Passive Income from Tax Liens,’ and duped investors by saying it was government-protected and fully collateralized.
An Atlanta-based realtor sued Burkhalter and Drive Planning after realizing that they were using the realtor’s name and property portfolio in their fake collateral sheets.
From the start, REAL operated as a Ponzi scheme, according to prosecutors. After the fund received its first $50,000 investment, Burkhalter used $21,000 to pay off a previous investor.
Within the first few months of marketing REAL, Burkhalter used at least $80,000 to pay his ex-wife’s attorneys and cover expenses related to recreational vehicles.
Not a single dollar invested in REAL actually went to real estate investment opportunities as claimed, prosecutors said.
Even after the Securities and Exchange Commission (SEC) began investigating Drive Planning and its CEO in March 2024, the company continued to operate its Ponzi scheme and solicited tens of millions of dollars in additional investments.
The SEC finally put a stop to the fraud in August 2024 when it obtained a temporary restraining order against Drive Planning and filed civil enforcement actions in federal court against the company.
Within the first few months of his scheme, Burkhalter used $80,000 of investor money to pay his ex-wife’s attorneys and cover expenses related to recreational vehicles
In April 2020, Burkhalter published a book called ‘Bulletproof Your Finances’ that was marketed as ‘a step by step guide to designing the financial life that you desire’
On top of his 20-year sentence, Burkhalter has also been ordered to pay nearly $234 million in restitution to victims. He will be placed on three years of supervised release after getting out of prison.
Two other former executives at Drive Planning were also sentenced to prison earlier this week.
David Bradford, the company’s chief operating officer, was sentenced to four years and three months in prison and ordered to pay nearly $4.3 million in restitution to victims after pleading guilty to conspiracy to commit wire fraud.
Julie Edwards, Drive Planning’s chief administrative officer, was sentenced to two years in prison and ordered to pay $630,000 in restitution to victims after pleading guilty to laundering proceeds of the Ponzi scheme.
A court-appointed receiver has been placed in charge of attempting to recover the funds and selling Drive Planning’s assets to repay the company’s more than 2,000 victims.
