Founder of Georgia financial advisory firm sentenced to 20 years in $380M Ponzi scheme

August 17, 2026 - 01:15

Federal authorities announced that Todd Burkhalter, the founder of the Georgia-based financial advisory firm Drive Planning, has been sentenced to 20 years in prison. The sentence stems from his role in operating a massive Ponzi scheme that defrauded over 2,000 investors out of roughly $380 million.

Prosecutors detailed how Burkhalter used the stolen funds to support an extravagant lifestyle. Court documents show that investor money paid for a luxury yacht, high-end real estate purchases, a collection of vehicles, and extensive personal travel. The scheme, which ran for several years, promised steady returns but instead used new investor deposits to pay off earlier clients, a classic hallmark of a Ponzi structure.

The sentencing brings an end to a case that shook the local financial advisory community. Many of the victims were retirees and middle-class families who had trusted Burkhalter with their life savings. In addition to the prison term, the court ordered Burkhalter to forfeit assets and pay restitution. The U.S. Attorney's office noted that the investigation remains ongoing, and they are working to trace additional funds that may have been hidden overseas. Burkhalter's defense team had argued for a lighter sentence, citing his cooperation, but the judge emphasized the scale of the betrayal and the lasting harm caused to thousands of families.