Georgia Republican Accused of $140 Million Ponzi Scheme

Federal officials allege that Georgia Republican Brant Frost IV operated a $140 million Ponzi scheme through First Liberty Building and Loan, defrauding 300 investors with false promises of high returns, while spending investor funds on personal luxuries and political contributions. The scheme, which began as a loan business, was exposed as a Ponzi scheme by 2021, leading to investigations and potential legal actions.