The former president of the now-defunct Newnan-based First Liberty Building & Loan was charged by federal prosecutors on Thursday for his role in orchestrating a “massive, multi-million dollar” Ponzi scheme.
Edwin Brant Frost IV, 68, has been accused of swindling at least $140 million from at least 300 investors.
According to the U.S. Attorney’s Office for the Northern District of Georgia, from 2021 to roughly July 2025, Frost solicited investments in Bridge Loans, which he marketed as short-term business loans for businesses seeking immediate funding.
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