Former First Liberty founder charged in federal court over alleged Ponzi scheme
Prosecutors say Edwin Brant Frost IV defrauded at hundreds of investors, including many grassroots Republicans, of at least $140 million before going bust in 2025.
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Prosecutors say Edwin Brant Frost IV defrauded at hundreds of investors, including many grassroots Republicans, of at least $140 million before going bust in 2025.
Forty-six victims of what was allegedly Georgia's largest Ponzi scheme will get millions of dollars back, according to Secretary of State Brad Raffensperger.
State bars Timothy Nathaniel Darnell from securities activities and imposes a $500,000 penalty, citing alleged violations related to the First Liberty collapse and losses suffered by senior investors.
Edwin Brant Frost V, the son of First Liberty Building and Loan founder and former chairman of the Coweta County Republican Party, was fined $500,000 and could face charges for his role in an alleged $140 million Ponzi scheme
Prosecutors say that the Ponzi scheme led by the financial advisor is likely the largest in Georgia history.
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