ATLANTA — A federal judge sentenced the founder and chief executive of a Georgia financial advisory firm to 20 years in prison Tuesday after prosecutors said he orchestrated a $380 million Ponzi scheme that victimized more than 2,000 investors across the country.
The U.S. attorney’s office said the sentence — the maximum allowed — was handed down to 55-year-old Todd Burkhalter, the founder of Drive Planning LLC. In addition to the prison term, a judge ordered him to pay more than $233 million in restitution and imposed three years of supervised release following his term.
Allegations, timeline and losses
According to court filings, the scheme ran from September 2020 through June 2024. Prosecutors say Drive Planning raised money from investors by selling interests in purported real estate and tax lien investment funds that, they contend, did not exist. Instead of deploying the funds as promised, authorities allege, Burkhalter and associates diverted investor money to finance a high-end lifestyle.
Federal agents outlined a series of lavish purchases they attribute to the misuse of investor funds, including a $2 million yacht, luxury automobiles, private jet expenses and a condo in Cabo San Lucas. The government said those expenditures were funded by investor capital rather than legitimate business proceeds.
Co-defendants also sentenced
Two other senior executives at Drive Planning received prison terms for their roles in the scheme. David Bradford, the company’s chief operating officer, was sentenced to four years and three months and ordered to pay nearly $4.3 million in restitution. Julie Edwards, who served as chief administrative officer, received a two-year sentence and was ordered to pay $630,000 in restitution for money-laundering charges.
Authorities say the three defendants’ combined conduct contributed to what federal prosecutors described as one of the most significant financial frauds seen in Georgia in recent years.
Prosecutors’ response
"Todd Burkhalter lured investors to send millions of dollars to Drive Planning for investments that he knew didn't actually exist,"
The comment, credited to a U.S. attorney in court filings, said Burkhalter encouraged investors to liquidate retirement accounts, tap college savings and borrow at high interest to fund purported investments. Prosecutors argued the sentences should serve as a deterrent to other financial advisers who might place greed ahead of fiduciary duty.
What victims face now
Federal officials estimate more than 2,000 investors were defrauded. While restitution has been ordered, recovering funds in large-scale fraud cases often takes time, and victims may receive only a fraction of their original investments after asset forfeiture and distribution processes are completed.
Victims of investment fraud typically are notified about recovery processes by the U.S. Attorney’s Office and the court-appointed receiver or trustee. The federal government may seize and liquidate assets tied to the scheme; proceeds are then distributed to eligible victims according to a court-approved plan.
- Sentence for founder/CEO Todd Burkhalter: 20 years in federal prison
- Ordered restitution to victims: $233 million+
- Number of alleged victims: 2,000+
- Co-defendant sentences: David Bradford — 4 years, 3 months; Julie Edwards — 2 years
| Defendant | Role | Sentence | Restitution Ordered |
|---|---|---|---|
| Todd Burkhalter | Founder & CEO, Drive Planning LLC | 20 years; 3 years supervised release | $233,000,000+ |
| David Bradford | Chief Operating Officer | 4 years, 3 months | ~$4,300,000 |
| Julie Edwards | Chief Administrative Officer | 2 years | $630,000 |
Broader implications for Georgia investors
Financial crimes of this scale raise questions for investors about oversight and the due diligence they performed before entrusting advisers with their savings. Federal authorities emphasized that many victims were told their investments were safe and guaranteed, claims prosecutors said were false.
Regulators and law enforcement frequently advise investors to verify credentials, ask for third-party statements of assets, obtain independent valuations and be wary of guaranteed high returns. When suspicious activity is suspected, investors should contact state securities regulators, the Securities and Exchange Commission or the FBI.
The U.S. Attorney’s Office in Atlanta prosecuted the case; sentencing documents and restitution orders are part of the public court record. Federal officials said investigations and efforts to recover assets tied to the scheme remain ongoing.
State and federal authorities continue to encourage anyone with information related to Drive Planning or similar schemes to come forward through established reporting channels.
— Tamara Ellison, State Correspondent
