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INDIANAPOLIS (WISH) — 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 sho...
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