The U.S. Securities and Exchange Commission (SEC) says that a Georgia man allegedly defrauded 300 investors in a Ponzi scheme after his loan business fell apart.
In a new press release, the SEC is accusing Edwin Brant Frost IV and his business, First Liberty Building & Loan, of running a Ponzi scheme by misappropriating funds and misleading investors.
According to authorities, between 2014 and June 2025, the firm operated by offering investors promissory notes and loan participation agreements with returns of up to 18% for short-term loans to businesses at high interest rates that rarely defaulted. Frost and his company allegedly assured investors that the defaulted loans would be repaid by borrowers using funds from the Small Business Administration or other commercial lenders.
But since
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