Georgia · Atlanta, Fulton County · Crime & Courts

Todd Burkhalter Sentenced to 20 Years: Alpharetta GA Ponzi Case, Drive Planning

The Drive Planning founder drew the longest term the law allowed on Friday in federal court in Atlanta, and was ordered to pay $233.8 million back to victims. Two other executives of the Alpharetta firm were sentenced earlier in the week.

What happened in the Drive Planning case?

The founder and chief executive of the Alpharetta investment firm Drive Planning LLC was sentenced Friday to 20 years in federal prison for running what federal prosecutors call likely the largest Ponzi scheme in Georgia history.

Todd Burkhalter, 55, was also ordered to serve three years of supervised release and to pay $233,777,763.82 in restitution to victims, the U.S. Attorney’s Office for the Northern District of Georgia said. The office described the 20-year term as the maximum the law allowed.

U.S. District Judge Tiffany R. Johnson imposed the sentence in Atlanta. The Atlanta Journal-Constitution reported that Burkhalter was the third Drive Planning executive she sentenced this week.

Burkhalter pleaded guilty to wire fraud. The U.S. Attorney’s Office announced that plea on Jan. 21, 2026.

Who is Todd Burkhalter?

Burkhalter founded Drive Planning and ran it as chief executive officer. He lives in St. Petersburg, Florida, and the AJC reported that he moved there several years ago. Forsyth County News identifies him as Russell Todd Burkhalter.

The AJC reported that the firm is now in receivership, and that it has been under investigation by the U.S. Securities and Exchange Commission since 2024.

How big was the scheme?

The U.S. Attorney’s Office states the loss two different ways in the same announcement.

Its opening paragraph says the scheme left thousands of investors “losing nearly $400 million.” Further down, the release says Burkhalter defrauded more than 2,000 investors out of approximately $380 million. The release itself is headlined as a $380 million scheme.

Prosecutors dated the conduct to between September 2020 and June 2024.

What did prosecutors say Drive Planning sold?

According to the U.S. Attorney’s Office, Drive Planning marketed two offerings at Burkhalter’s direction: the “Real Estate Acceleration Loan,” called REAL, and the “Cash Out Real Estate Fund,” called the CORE Fund. Investors were told they did not need to be accredited, and were encouraged to put in money from retirement accounts, savings and lines of credit.

REAL was the primary product. The office said Burkhalter marketed it as a bridge-loan opportunity guaranteeing a 10% return every three months, and that investors were told their money was fully secured by real estate. It said he directed the company to prepare fraudulent “collateral sheets” naming properties — some of which did not exist — carrying fictitious valuations.

The office also said Drive Planning overstated its ties to a well-known Atlanta real estate developer, and told investors in promissory notes that their money was secured by property in that developer’s portfolio. The developer sued Drive Planning and Burkhalter to stop them using its name. The release refers to the company only as “Real Estate Developer-1.”

For the CORE Fund, the office said the firm advertised “100% Passive Income from Tax Liens” and guaranteed a 10% return every six months, or 22% a year for up to three years. It said Drive Planning took in at least $4.1 million from people seeking to invest in that fund, and put no money into the fund after about Dec. 9, 2022.

The office said REAL ran as a Ponzi scheme from the beginning: after the first $50,000 came in during September 2020, at least $21,000 of it was used to repay an earlier investor.

What did prosecutors say the money paid for?

Investor money went to pay off other Drive Planning investors, to pay commissions to the firm’s agents, and to personal spending, the U.S. Attorney’s Office said. It gave the following as approximate amounts Burkhalter spent:

The office said Burkhalter and others kept soliciting tens of millions of dollars for REAL and the CORE Fund even after the SEC began investigating Drive Planning in about March 2024.

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Who else was sentenced this week?

Two other Drive Planning executives were sentenced by Judge Johnson earlier in the week. Three people were sentenced in all.

David Bradford, 53, of Peachtree Corners, was the firm’s chief operating officer. He admitted a charge of conspiring to commit wire fraud over his part in the CORE Fund. Judge Johnson gave him four years and three months, with three years of supervision to follow, and ordered $4,297,878.16 in restitution.

Julie Edwards, 59, of Cumming, was the firm’s chief administrative officer. She admitted laundering proceeds of the scheme. She drew a two-year term, also with three years of supervision afterward, and was ordered to repay $630,000.

The AJC reported on Aug. 12 that Bradford was sentenced that Wednesday, that Edwards was set for Thursday and Burkhalter for Friday, and that all three had pleaded guilty in deals with federal prosecutors.

What was said at sentencing?

Judge Johnson said many investors lost their retirement savings and their children’s college funds, and that others had to remortgage their homes, the AJC reported.

In the sentencing announcement, U.S. Attorney Hertzberg said Burkhalter “lured investors to send millions of dollars” into products he knew were fictitious. He said the sentences should discourage other financial advisers from choosing greed and lies over honest investment strategies.

Marlo Graham, special agent in charge of FBI Atlanta, called it “likely the largest Ponzi scheme in Georgia history.” Graham said Burkhalter ran it to bankroll an extravagant lifestyle, and kept exploiting victims even once federal agents were investigating him.

Is there parole in the federal system?

No. The U.S. Attorney’s Office said the sentences in this case will be served without the possibility of parole, and that parole has been abolished in the federal system.

Supervised release is separate from the prison term. Each of the three executives drew three years of it, and it begins after the prison term ends.

Who is trying to get money back to investors?

The court appointed a receiver, Kenneth D. Murena, to trace and recover money and to sell off assets so that Drive Planning’s victims can be paid back, the U.S. Attorney’s Office said.

The SEC obtained a temporary restraining order against Drive Planning in August 2024 and filed civil enforcement actions in federal court against the firm and others over the scheme, according to the same release.

The case was investigated by the FBI with substantial assistance from the SEC. Assistant U.S. Attorney Kelly K. Connors and former Assistant U.S. Attorney Alex R. Sistla prosecuted it.

What we don’t know yet

How can the court file be read?

Federal criminal dockets are public through PACER, at pacer.uscourts.gov, which covers the U.S. District Court for the Northern District of Georgia. A federal docket carries the charging document, the guilty plea entry, the judgment setting out the sentence and its conditions, and any notice of appeal. Presentence reports and sealed filings are not public.

The U.S. Attorney’s Office for the Northern District of Georgia lists its public affairs contact as [email protected], or (404) 581-6185.

Frequently asked questions

Who is Todd Burkhalter?
Todd Burkhalter, 55, of St. Petersburg, Florida, founded the Alpharetta investment firm Drive Planning LLC and was its chief executive officer. The AJC reported that he moved to Florida several years ago. Forsyth County News identifies him as Russell Todd Burkhalter.

How long is Todd Burkhalter's sentence?
Twenty years in federal prison, followed by three years of supervised release. The U.S. Attorney's Office for the Northern District of Georgia described the 20-year term as the maximum allowed by law.

What did Todd Burkhalter plead guilty to?
Wire fraud. The U.S. Attorney's Office announced the guilty plea on Jan. 21, 2026.

How much restitution was Todd Burkhalter ordered to pay?
$233,777,763.82 to victims, according to the U.S. Attorney's Office.

How big was the Drive Planning Ponzi scheme?
The U.S. Attorney's Office release states the loss two ways. Its opening says the scheme left thousands of investors “losing nearly $400 million.” Further down it says Burkhalter “defrauded more than 2,000 investors out of approximately $380 million.” The release is headlined as a $380 million scheme.

Who else was sentenced in the Drive Planning case?
Two other executives. David Bradford, 53, of Peachtree Corners, the chief operating officer, received four years and three months in prison, three years of supervised release and $4,297,878.16 in restitution. Julie Edwards, 59, of Cumming, the chief administrative officer, received two years in prison, three years of supervised release and $630,000 in restitution. Three people were sentenced in all.

Which judge sentenced the Drive Planning executives?
U.S. District Judge Tiffany R. Johnson, in Atlanta. The AJC reported that Burkhalter was the third Drive Planning executive she sentenced this week.

Where was Drive Planning based?
Alpharetta, in Fulton County. The AJC reported that the firm is now in receivership and has been under investigation by the U.S. Securities and Exchange Commission since 2024.

When did prosecutors say the scheme ran?
Between September 2020 and June 2024, according to the U.S. Attorney's Office.

Is there parole in the federal prison system?
No. The U.S. Attorney's Office said the sentences in this case will be served without the possibility of parole, and that parole has been abolished in the federal system.

Who is trying to recover money for Drive Planning investors?
The court appointed a receiver, Kenneth D. Murena, to trace and recover money and to sell off assets so that victims can be paid back, the U.S. Attorney's Office said.