Prominent GOP family in GA swindle scam: SEC alleges $140 M Ponzi scheme. [View all]

Sorry, paywalled but a recap:

https://www.ajc.com/politics/2025/07/sec-accuses-gop-linked-georgia-lender-of-140m-ponzi-scheme

The complaint alleges that First Liberty founder Brant Frost IV misappropriated investor funds, making payments to himself and relatives of more than $5 million and used other funds for operations of several affiliated companies, which were also named as defendants in the suit. The SEC said Frost used investor money to make more than $2.4 million in credit card payments, another $335,000 to a rare coin dealer, $230,000 on family vacations at a rental home in Maine and $20,800 for a Patek Philippe watch.

Frost also allegedly used investor money to make more than $570,000 in political donations, the SEC alleges. Brant Frost IV and his children were deeply embedded in grassroots conservative politics in Georgia, with roles in the state party and also a far-right faction that has pushed to ban some Republicans candidates from the party’s ballot.

Promotional materials highlighted appearances on the “Hugh Hewitt Show” and advertisements on the “Erick Erickson Show.” The lender billed its leaders as “authentic followers of Christ” with a penchant for charitable giving to religious causes. Its slogan: “We say yes when the big banks say no.”

Brant Frost V, the founder’s son and a company principal, often promoted the firm on conservative programs as a way for everyday investors to grow the “patriot economy.” Though it had a name that evoked “It’s a Wonderful Life,” First Liberty was not a bank, did not take deposits and was not insured by the Federal Deposit Insurance Corp.

Head scammer, BF IV:

Dweeb son of head scammer, BF V. Such original names. Such horrible genes!