ALPHARETTA, GA — The founder of a metro Atlanta-based financial advisory group has been sentenced to 20 years in federal prison for running what the FBI calls likely the largest Ponzi scheme in Georgia history.

Officials say Todd Burkhalter, 55, was also ordered to pay nearly $234 million in restitution after prosecutors said more than 2,000 investors lost about $380 million. The scheme operated from 2020 through 2024, according to federal prosecutors.

U.S. Attorney Theodore S. Hertzberg said Burkhalter encouraged investors to use retirement savings, college funds and high-interest loans to invest in opportunities prosecutors say did not exist.

“Mr. Burkhalter lured investors to send millions of dollars to Drive Planning for investments that he knew didn’t actually exist,” Hertzberg said.

FBI Atlanta Special Agent in Charge Marlo Graham said Burkhalter used the scheme to fund an extravagant lifestyle and continued soliciting investors while under federal investigation.

“Todd Burkhalter organized what is likely the largest Ponzi scheme in Georgia history to fund an extravagant lifestyle,” Graham said.

According to prosecutors, investor money was used to pay earlier investors and cover personal expenses, including about $2 million for a yacht, $2.1 million toward a luxury condo in Mexico and $800,000 on luxury vehicles.

Two other Drive Planning executives were also sentenced for their roles in the scheme.

David Bradford received four years and three months in prison, while Julie Edwards was sentenced to two years, according to officials.