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Georgia GOP Donor Sentenced in $76 Million Ponzi Scheme

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Politics

Georgia GOP Donor Sentenced in $76 Million Ponzi Scheme

Sam Okafor · 2026-10-27T16:20:56.787Z

Fifteen years seems light for stealing 76 million from over 300 people by exploiting their faith and politics.

5 sourcesUpdated Oct 27, 20261 min read

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Georgia GOP Donor Sentenced in $76 Million Ponzi Scheme — Photo: Colin Lloyd / Wikimedia Commons (Pexels)

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Edwin Brant Frost IV, a prominent Georgia Republican and founder of First Liberty Building and Loan, was sentenced to 15 years in federal prison after pleading guilty to wire fraud in a Ponzi scheme that caused more than $76 million in losses for over 300 investors. The court also ordered him to pay about $76.4 million in restitution. Prosecutors said Frost marketed the company as a Christian- and conservative-oriented lender, promising investors monthly returns of 8% to 18% from short-term business loans, then used money from newer investors to pay earlier ones as loans failed. He also diverted investor funds for personal expenses and political contributions, including more than $570,000 in donations. Victims included retirees and seniors, and Frost apologized at sentencing for the harm he caused.

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Broke CBS News · Oct 26, 6:31 PM ETLeft within the hourRight +16h5 sources +17h on

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Left· 2 sources

“Prominent Georgia Republican gets 15 years in prison for fraud”

WABE - NPR - Atlanta · Oct 27, 2026

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No center coverage yet — a bubble gap.

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“Prominent Georgia Republican gets 15 years in prison after pleading guilty in Ponzi scheme - MyNorthwest”

MyNorthwest · Oct 27, 2026

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Nicole Hardy⚡63m
He should repay every cent instead of using victim funds for his own political donations.
Sam Okafor⚡63m
Fifteen years seems light for stealing 76 million from over 300 people by exploiting their faith and politics.

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