Core Insights - Todd Burkhalter operated a Ponzi scheme through his company Drive Planning LLC, defrauding approximately 2,000 clients out of $380 million, marking it as potentially the largest Ponzi scheme in Georgia's history [2][4] - The fraudulent scheme involved two main products: the "Real Estate Acceleration Loan" (REAL), promising 10% returns every three months, and the "Cash Out Real Estate Fund" (CORE Fund), claiming 10% returns every six months [2][3] - Burkhalter misappropriated funds for personal luxuries, including $2 million on a yacht and $2.1 million on a condo in Cabo San Lucas, Mexico [3] Company Overview - Drive Planning LLC was established to offer high-yielding real estate loans but instead engaged in deceptive practices from September 2020 to June 2024 [2] - The company’s operations were centered around misleading investment opportunities that ultimately served to pay off earlier investors rather than generate legitimate returns [3] Industry Context - In 2024, the Federal Trade Commission reported that $12.5 billion was lost to fraud, with $5.7 billion attributed to deceptive investment schemes, reflecting a 24% increase from 2023 [5] - Research indicates that the most vulnerable targets of Ponzi schemes are not the wealthy but rather the elderly, affinity groups, and friends or family of victims, with 46% of examined schemes involving such demographics [6]

Core Insights - A Georgia-based financial advisor, Todd Burkhalter, pleaded guilty to a $380 million fraud, potentially the largest Ponzi scheme in Georgia's history [2] - Burkhalter's firm, Drive Planning, marketed investment opportunities such as the "Real Estate Acceleration Loan" (REAL) and the "Cash Out Real Estate Fund" (CORE) [2][5] - The scheme involved false claims about guaranteed returns and collateralization of investments, misleading thousands of investors [4][5] Investment Scheme Details - Burkhalter falsely represented REAL as a bridge loan fund for real estate developers, while it operated as a Ponzi scheme [3] - Investors were promised 10% guaranteed returns every three months, with claims that their funds were secured by real estate [4] - The CORE Fund was marketed as providing 100% passive income from tax liens, with similar return promises, but funds were not invested as claimed [5] Misuse of Funds - Burkhalter misappropriated investor funds for personal expenses, including $80,000 for legal fees and luxury purchases [6] - Significant expenditures included $2 million on a yacht, $2.1 million on a luxury condo in Cabo San Lucas, and $800,000 on luxury vehicles [7] - The scheme involved using new investors' funds to pay existing investors, characteristic of a Ponzi structure [6]