Georgia’s Ethics Commission says a political action committee linked to what federal investigators have called a Ponzi scheme illegally sought to influence elections.
The complaint, filed Wednesday, says the spending came from the now-dissolved Georgia Republican Assembly PAC between 2021 and 2024.
The committee was headed by Edwin Brant Frost V, the son of a man named in a U.S. Securities and Exchange Commission lawsuit as heading a scheme that took at least $140 million from hundreds of investors. A company named First Liberty Building & Loan promised investors big returns from making high-interest loans to businesses with short-term cash needs, but the SEC complaint says Edwin Brant Frost IV skimmed $17 million for himself, his relatives and their affiliated companies.
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