Georgia financial advisor admitted to scamming $380M from 2,000 clients in Ponzi scheme. How to spot shady investments

Thousands of clients trusted Todd Burkhalter to put their wealth successful high-yielding existent property loans. In reality, Burkhalter was moving a monolithic Ponzi strategy portion splurging connected motorcoaches and holidays successful Mexico.

These lies came to airy successful January 2026 erstwhile Burkhalter pleaded blameworthy to ligament fraud done his Atlanta-based institution Drive Planning LLC. With a full of $380 cardinal from 2,000 clients, the U.S. Attorney Theodore S. Hertzberg estimates this is “likely the largest Ponzi strategy successful Georgia history.”

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Burkhalter’s multi-year scam centered connected 2 products that his business, Drive Planning, advertised betwixt September 2020 and June 2024. The first, known arsenic the “Real Estate Acceleration Loan” accidental (“REAL”), claimed to put successful short-term loans to existent property developers and connection returns of 10% each 3 months.

Drive Planning’s 2nd fraudulent offering was called the “Cash Out Real Estate Fund” (“CORE Fund”), which falsely claimed to put successful taxation liens to supply returns of 10% each six months.

Any wealth Todd Burkhalter received from these funds went to wage disconnected different investors oregon for lavish idiosyncratic purchases, including $2 cardinal connected a yacht, $2.1 cardinal connected a condo successful Cabo San Lucas, Mexico, and hundreds of thousands of dollars connected luxury cars, jewelry, and clothes.

According to the U.S. Attorney’s Office Northern District of Georgia, Burkhalter could look much than 17 years successful situation for his crimes.

For the victims of the scheme, determination isn’t overmuch anticipation of recovering each of their money. Although a court-appointed receiver volition merchantability Drive Planning’s assets and redistribute funds, it apt won’t beryllium capable to screen everyone’s investments (1).

Of the $12.5 cardinal mislaid to fraud successful 2024, the Federal Trade Commission (FTC) recovered that $5.7 cardinal was owed to deceptive concern deals similar Drive Planning. Not lone are fraudulent investments the starring origin of mislaid funds successful these cases, the FTC notes that’s an summation of 24% from 2023 information (2).

Research from Emory University successful 2015 precocious uncovered the astir apt targets of Ponzi schemes — and it’s not the ultra-wealthy. According to this data, 3 groups thin to beryllium astir astatine hazard of falling into these traps: the elderly, affinity groups (e.g., spiritual oregon nonrecreational associations), and household oregon friends of the victims. Roughly 46% of Ponzi schemes examined successful this survey progressive victims who were aged oregon had ties to a radical (3).