Drive Planning leaders sentenced to federal prison in $380M Ponzi scheme
INDIANAPOLIS (WRTV) — A federal judge sentenced the former CEO of a financial firm that defrauded Indiana families to 20 years in prison Friday in federal court.
The sentencing updates a story Indiana’s I-Team first broke in 2024 regarding Drive Planning LLC. The company operated an office in a coworking space at 8100 E. 106th St. in Fishers and previously planned a new building at 116th Street and Olio Road.
Todd Burkhalter, CEO of the Georgia-based financial advisory group, pleaded guilty to wire fraud. The 20-year sentence represents the maximum penalty allowed by law for orchestrating a yearslong Ponzi scheme that caused thousands of investors to lose nearly $400 million.
“Todd Burkhalter lured investors to send millions of dollars to Drive Planning for investments that he knew didn’t actually exist,” U.S. Attorney Theodore S. Hertzberg said in a statement. “He promised investors that they were guaranteed substantial returns on their investments, and he ruthlessly encouraged them to deplete their kids’ college funds, take early distributions from retirement accounts, and borrow significant sums at high interest rates. The sentences in this case should discourage other financial advisors from choosing insatiable greed and lies over honest investment strategies.”
Patrick and Laura Mcloughlin of Noblesville believed they were investing in their future when they trusted Drive Planning LLC with their money.
“Everything sounded great,” Patrick McLoughlin said. “I thought I was going to get a 10% return every 90 days. That sounds great to me!”
Instead, the couple likely lost $250,000.
“It is still shocking, but we kind of felt like something was going on,” Patrick McLoughlin said. “As things progressed with Drive, and seeing some of the events they hosted and the trips they took, we started questioning what was going on. It didn’t seem right.”
The couple said Drive Planning LLC provided statements that made it appear their investments were making money. Looking back, they said the statements did not seem official.
“Not everything is as good as it sounds,” Patrick McLoughlin said. “If it sounds too good to be true, it probably is.”
The McLoughlins were not alone, as Burkhalter defrauded more than 2,000 investors of roughly $380 million. Throughout the scheme, Burkhalter used investor money to pay other Drive Planning investors, pay commissions to agents, and fund personal luxuries, according to the U.S. Attorney’s Office.
Burkhalter’s expenditures included:
- $2 million for a yacht.
- $2.1 million for a luxury condo in Cabo San Lucas, Mexico.
- $800,000 for luxury vehicles, including a 2020 Prevost Marathon motorcoach and two 2024 Land Rovers.
- Millions of dollars for luxury travel, including private jet charters.
- $320,000 for clothing, jewelry, and beauty treatments.
Earlier this week, a federal judge sentenced two other Drive Planning employees, David Bradford and Julie Edwards.
Bradford, 53, of Georgia, served as the firm’s chief operating officer. He previously pleaded guilty to conspiracy to commit wire fraud. A judge sentenced him to four years and three months in prison, followed by three years of supervised release, and ordered him to pay more than $4.2 million in restitution.
Edwards, 59, of Georgia, was the chief administrative officer. She previously pleaded guilty to laundering proceeds of the Ponzi scheme. A judge sentenced her to two years in prison, followed by three years of supervised release, and ordered her to pay $630,000 in restitution.
No criminal charges have been filed against Gerardo “Gerry” Linarducci, an Indianapolis man who worked as a managing partner for Drive Planning.
The FBI urges anyone who believes they were affected by Drive Planning or has information about the firm to visit its website.
In a separate civil action, the U.S. Securities and Exchange Commission (SEC) charged Linarducci with securities fraud, specifically violations of the Securities Act of 1933 and the Securities Exchange Act of 1934. The SEC also charged Bradford.
According to the complaint, Bradford and Linarducci personally raised more than $35 million and $13 million, respectively. Their sales teams raised more than $100 million and $30 million by selling Real Estate Acceleration Loans (REAL) investments. The complaint alleges Bradford and Linarducci fueled the scheme by falsely telling investors that the 10% rate of return was guaranteed, that investors held interests in collateral, and that Drive Planning partnered with real estate developers in profit-sharing agreements.
The SEC stated Bradford and Linarducci received millions of dollars in compensation from these sales. Indiana’s I-Team attempted to contact Linarducci for comment but has not received a response.
In June 2025, Linarducci filed for Chapter 13 bankruptcy to reorganize and pay off debts over time. His filing lists dozens of creditors, including Indiana investors such as Rachael Williamson of Batesville and Patrick McLoughlin.
The Receiver’s website states all funds collected and proceeds from asset sales will be held in a distribution fund for the benefit of investors and creditors. Indiana’s I-Team is awaiting a response from Linarducci’s bankruptcy attorney.
In March 2025, Linarducci launched Eye Can Coaching LLC, a professional speaking and coaching business. This followed an April 2025 partial settlement between the SEC and Burkhalter, which prohibits Burkhalter from acting as an officer or director of any company registered with the SEC.
In September 2024, Rachael Williamson filed a class action lawsuit alleging Linarducci encouraged “countless” people to invest in Drive Planning, causing them to lose “large sums of money.” The lawsuit claims Linarducci provided promotional materials touting a “10% return” and a “$20,000 minimum” investment.
The class action complaint, filed in the U.S. District Court Southern District of Indiana, also names Integrity Wealth Partners and Ducci Enterprise LLC. A court ruled the lawsuit can proceed against those firms, which Linarducci used to solicit investments. Due to the bankruptcy filing, the lawsuit cannot move forward against Linarducci as an individual.
