Seven months after the collapse of an alleged $140 million Ponzi scheme that touched the top ranks of Republican politics in Georgia and Alabama, some investors are impatient to get their money back.
“We feel like we’re never going to see it, as old as we are,” Thomas Todd, a 77-year-old retired business owner, told Georgia Secretary of State Brad Raffensperger in a meeting Monday.
Raffensperger says his office is stepping up efforts even as Republican state lawmakers want to transfer securities regulation to the Georgia Department of Banking and Finance, faulting the secretary of state’s securities division for not detecting wrongdoing at First Liberty Building & Loan before it went bust.
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