January 23, 2026 – A St. Petersburg-based financial advisor has pleaded guilty to defrauding over 2,000 investors out of approximately $380 million between 2020 and 2024, according to the U.S. attorney of the Northern District of Georgia. Todd Burkahlter lived in St. Petersburg while serving as CEO of Drive Planning, a financial advisor group that offered loans to real estate developers in the Atlanta metro area. U.S. Attorney Theodore Hertzberg said Burkhalter bought a yacht, a condo in Cabo San Lucas, Mexico, luxury vehicles, private jet charters and jewelry, while orchestrating what was likely the largest Ponzi scheme in Georgia history.<\/p>\n
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