The former president of the now-defunct First Liberty Building and Loan pled guilty on Tuesday to one count of wire fraud.
First coming to light last summer when the firm suddenly closed, federal regulators accuse those behind it of operating a $140 million Ponzi scheme and defrauding at least 300 people.
Edwin Brant Frost IV was arraigned last month in Atlanta, waiving indictment, and was released on bail. He originally pleaded not guilty but appeared in a federal courtroom in Newnan this week to enter a guilty plea.
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