Thousands of clients trusted Todd Burkhalter to invest their money in high-yield real estate loans. In reality, Burkhalter was running a massive Ponzi scheme while splurging on buses and vacations to Mexico.
These lies came to light in January 2026 when Burkhalter pleaded guilty to wire fraud through his Atlanta-based company Drive Planning LLC. With a total of $380 million coming from 2,000 clients, U.S. Attorney Theodore S. Hertzberg estimates this is “probably the largest Ponzi scheme in Georgia history.”
Burkhalter’s multi-year scam centered on two products that his business, Drive Planning, announced between September 2020 and June 2024. The first, known as the “Real Estate Acceleration Loan” (“REAL”) opportunity, purported to invest in short-term loans to real estate developers and offer returns of 10% every three months.
Drive Planning’s second fraudulent offering was called “Cash Out Real Estate Fund” (“CORE Fund”), which falsely claimed to invest in tax liens to provide 10% returns every six months.
All of the money Todd Burkhalter received from these funds went to pay other investors or make lavish personal purchases, including $2 million on a yacht, $2.1 million on a condo in Cabo San Lucas, Mexico, and hundreds of thousands of dollars on luxury cars, jewelry, and clothing.
According to the U.S. Attorney’s Office for the Northern District of Georgia, Burkhalter could face more than 17 years in prison for his crimes.
For victims of the scheme, there is little hope of getting all of their money back. Although a court-appointed receiver will sell Drive Planning’s assets and redistribute the funds, it will likely not be enough to cover everyone’s investments (1).
Of the $12.5 billion lost to fraud in 2024, the Federal Trade Commission (FTC) found that $5.7 billion was due to deceptive investment deals like Drive Planning. Not only are fraudulent investments the leading cause of lost funds in these cases, but the FTC notes that this is a 24% increase over 2023 data (2).
Research from Emory University conducted in 2015 recently discovered the most likely targets of Ponzi schemes, and they aren’t the ultra-wealthy. According to this data, three groups tend to be at greater risk of falling into these traps: older people, affinity groups (for example, religious or professional associations), and family members or friends of the victims. Approximately 46% of the Ponzi schemes examined in this study involved victims who were elderly or had ties to a group (3).
When looking at the details of Drive Planning’s marketing, it’s easy to see this connection with their calls to retirees and those close to retirement.
Drive Planning deliberately encouraged people to use money from their retirement accounts, savings and even lines of credit to take advantage of their “easy and simple” investments.
Drive Planning also worked hard to build trust by creating fake documents that looked legitimate.
For example, Burkhalter sent “warranty sheets” filled with carefully crafted, but completely fabricated, details about the properties they supposedly owned to provide added security.
Drive Planning also claimed to be working with a real estate developer in Georgia, even though the two companies did not have a relationship, and the developer eventually filed a lawsuit (1).
With such sophisticated documentation, it is understandable why so many people find it difficult to distinguish between genuine investment opportunities and fraudulent schemes. But there are some warning signs that everyone should pay attention to before transferring their funds.
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If it’s too good to be true, it probably is. Although it’s cliché advice, it’s worth keeping in mind when analyzing investment opportunities.
Fraudulent investments are often successful because they are carefully designed to appear safe and legitimate while offering above-average returns. One of the most common ways Ponzi schemes do this is by offering guaranteed or unusually consistent returns, such as the 10% return promised by Drive Planning.
All investments carry some downside risk, but it is generally greater when advertised rates of return are unusually high. If projected returns are above what is currently offered on conservative investments like high-yield savings accounts or certificates of deposit (CDs), be even more suspicious if there is no mention of the volatility involved.
Transparency is essential when evaluating different investment platforms or partners. It shouldn’t be difficult to find someone who claims to be a licensed financial professional. You can use a tool like Broker Check to search for them (4). Financial products for sale as investments can be found in databases such as the federal government’s EDGAR (5). In general, investment firms should not hide how they make money in vague and complex language.
Be very careful if an investment firm emphasizes exclusivity or creates a sense of urgency, because these are common tactics to prevent people from asking too many questions and acting on their emotions.
And remember that Ponzi schemes often target older people or people with ties to a religious or cultural group. Anyone who falls into these categories should be very skeptical about any potential investment opportunities they encounter.
Since recovering money from a Ponzi scheme is difficult and time-consuming, it is best to avoid the problem in the first place by asking plenty of direct questions and enlisting the help of trusted third parties, such as a neutral financial advisor, before making any important decisions.
And if you ever suspect investment fraud or have trouble withdrawing funds, stop sending money immediately and contact regulators like the FTC (6).
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United States Attorney’s Office, Northern District of Georgia (1); Federal Trade Commission (2, 6); Emory University (3); Runner’s check (4); Investor.gov (5)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
