Georgia Ponzi Scheme Exposed: $380 Million Swindled from Hardworking Americans
A Georgia financial adviser admitted guilt in a $380 million Ponzi scheme, devastating over 2,000 investors and exposing critical gaps in financial oversight that put ordinary Americans at risk.
In a striking example of how reckless financial crimes continue to threaten American families, Todd Burkhalter, founder and CEO of Drive Planning LLC, pleaded guilty to wire fraud on Wednesday for orchestrating a Ponzi scheme that defrauded more than 2,000 investors out of a staggering $380 million. This case is not just about one man’s greed—it exposes the wider failure of regulatory safeguards meant to protect hardworking Americans’ retirement savings and life investments. How Did Washington Fail Our Investors? Burkhalter promised short-term loans to real estate developers with generous returns of 10% every three months. To lure victims—many encouraged to...
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