Screengrab (prison bars added) and headline: New York Times, 7/11/2025
Isabella Kwai reports:
The Securities and Exchange Commission on Thursday accused Edwin Brant Frost IV, a high-profile Republican in Georgia, of running a Ponzi scheme that defrauded 300 investors of at least $140 million.
The civil complaint, filed in a federal court in Georgia, accused Mr. Frost of violating antifraud laws and misappropriating investor money via the firm he founded, First Liberty Building and Loan.
It also accused Mr. Frost, 67, a donor to Republican causes and a prominent backer of the party in Georgia, of using investor funds to give more than $570,000 in political donations. It did not say to whom.
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