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A prominent Georgia Republican who ran a Ponzi scheme that federal prosecutors said caused losses of more than $76 million to more than 300 victims has been sentenced to spend 15 years in federal prison.
Edwin Brant Frost IV, 69, had pleaded guilty in May to a charge of wire fraud that resulted from an investigation that began after First Liberty Building and Loan collapsed in June 2025. Frost, who has publicly apologized for his role, was also ordered to pay more than $76 million in restitution
It promised returns of up to 16% by making high-interest loans to businesses. Frost, an evangelical powerbroker, touted "Wall Street returns for Main Street investors." But he skimmed $17 million for himself, his relatives and their affiliated companies, and loaned millions more that borrowers never repaid, a U.S. Securities and Exchange Commission lawsuit said.
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Edwin Brant Frost IV, 69, had pleaded guilty in May to a charge of wire fraud that resulted from an investigation that began after First Liberty Building and Loan collapsed in June 2025. Frost, who has publicly apologized for his role, was also ordered to pay more than $76 million in restitution
It promised returns of up to 16% by making high-interest loans to businesses. Frost, an evangelical powerbroker, touted "Wall Street returns for Main Street investors." But he skimmed $17 million for himself, his relatives and their affiliated companies, and loaned millions more that borrowers never repaid, a U.S. Securities and Exchange Commission lawsuit said.
Prominent Georgia Republican gets 15 years in prison after pleading guilty in Ponzi scheme
(AP) — A prominent Georgia Republican who ran a Ponzi scheme that federal prosecutors said caused losses of more than $76 million to more than 300 victims has been sentenced to spend 15 years in feder...
