Tr?id=566623520170033&ev=PageView&noscript=1

Drive Planning Founder Pleads Guilty to $380 Million Ponzi Scheme

Posted on February 23rd, 2026 at 2:01 PM
Drive Planning Founder Pleads Guilty to $380 Million Ponzi Scheme

From the desk of Jim Eccleston at Eccleston Law

Todd Burkhalter, founder and chief executive officer of Drive Planning LLC, has pleaded guilty to wire fraud after admitting he orchestrated a $380 million Ponzi scheme that defrauded more than 2,000 investors.

According to Financial Advisor News, authorities described the fraud as the largest Ponzi scheme uncovered in Georgia. The scheme took place between 2020 and 2024. Prosecutors alleged that Burkhalter used his Alpharetta-based advisory firm to market fraudulent investment strategies centered on real estate and tax lien opportunities that promised consistent, high returns.

Drive Planning promoted two primary investment programs: the Real Estate Acceleration Loan program, known as REAL, and the Cash Out Real Estate Fund, known as the CORE Fund. Financial Advisor News reports that prosecutors stated that both programs were marketed as low-risk investment opportunities, but neither operated as represented.

Federal authorities stated that Burkhalter used investor funds to sustain the scheme and finance personal expenditures. Prosecutors alleged that Burkhalter paid earlier investors with funds obtained from newer investors and paid commissions to sales agents.

Under the plea agreement, federal prosecutors plan to recommend a 17½-year prison sentence for Burkhalter, though the sentencing judge retains discretion over the final penalty. Burkhalter previously held a Series 65 investment adviser license and worked with several firms through 2014. However, he was not registered with the SEC or FINRA during the period when Drive Planning marketed the unregistered securities at issue, according to Financial Advisor News.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, drive planning

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

Fantastic news!!!!  Your professionalism, support and expertise were greatly appreciated.  You made a difficult situation much more bearable.

Marci M.

LATEST NEWS AND ARTICLES

L
May 21, 2026
Edward Jones Faces Federal Privacy Lawsuits Over Alleged Data Sharing With Tech Companies

Edward Jones is facing multiple lawsuits alleging that the firm improperly shared clients' personal and financial information with third-party technology companies for targeted advertising purposes, according to reporting by Financial Planning.

1779287606 Law
May 20, 2026
FINRA Sanctions Ameriprise for Supervisory Failures in Variable Annuity Exchanges

The Financial Industry Regulatory Authority (FINRA) has fined Ameriprise Financial Services and ordered restitution to resolve allegations that the firm failed to adequately supervise certain variable annuity exchange recommendations.

1779216500 Law
May 19, 2026
SEC Fines Ally Invest Advisors Over Undisclosed Robo-Advisor Conflict

The Securities and Exchange Commission (SEC) imposed a $500,000 penalty on Ally Invest Advisors after finding that the firm failed to disclose a material conflict of interest tied to its Cash-Enhanced robo-advisor accounts.