Prominent Georgia Republican gets 15 years in prison after pleading guilty in Ponzi scheme

A federal judge has sent Edwin Brant Frost IV, a well-known Georgia Republican and evangelical power broker, to prison for 15 years over a Ponzi scheme. Prosecutors said the fraud cost more than 300 victims over $76 million, and Frost must repay that amount. He is 69 and had pleaded guilty to wire fraud in May. The case grew out of an investigation that started after his company, First Liberty Building and Loan, failed in June 2025, according to ABC News.

Chief U.S. District Judge Leigh Martin May told the court the term reflected how much harm was done, according to The Atlanta Journal-Constitution. Frost, who has apologized in public, told the hearing that hearing from victims was painful and acknowledged he had damaged many lives.

The Newnan-based firm drew investors partly through conservative talk shows hosted by Erick Erickson, Hugh Hewitt and Charlie Kirk, advertising returns as high as 16% from loans to businesses. A Securities and Exchange Commission lawsuit says Frost diverted $17 million to himself, relatives and their companies. Investigators said $570,000 of investor money went to political donations. U.S. Attorney Theodore S. Hertzberg said Frost exploited faith and politics to prey on retirees and seniors.

Summarized by PolitiKool from ABC News’s reporting. Read the full story at ABC News →