#BREAKING : The founder and CEO of what federal prosecutors described as Georgia’s largest Ponzi scheme was sentenced Friday to 20 years in prison after pleading ... Show more
CEO of Alpharetta investment firm sentenced to prison in Ponzi scheme
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fraudulent investment scheme that pays earlier investors with proceeds from later investors
building housing local offices of various government departments and agencies in countries with a federal system
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Key FactsSorrell says Georgia Ponzi scheme ensnared his PAC
Jul 18, 2025 · Reading time: ~45 sec.
Summary created with AI assistance · Source: al.com
Summary created with AI assistance · Source: al.com
- The SEC accused Edwin Brant Frost IV and First Liberty Building and Loan of taking at least $140 million from hundreds of investors, after which Frost accepted responsibility and pledged to pursue repayments.
- Sorrell says he was duped and plans to return the $71,000 in contributions to a court-appointed receiver once the process becomes available.
- In April 2024, Alabama Christian Citizens lent $29,000 to First Liberty Building and Loan, less than two weeks after an Ethics Commission decision found no prohibition when personal and political funds were kept separate.
- On July 15, 2025, Sorrell urged Republican primary opponent Caroleene Dobson to sign a pledge against negative attacks after the scheme became public but before his own involvement was disclosed.
One of the individuals responsible for the scheme donated personally and through his company to dozens of conservative Republican campaigns and political action committees across the southeast, including mine, and I will return the contributions to a court-appointed receiver as soon as the process is available.— Andrew Sorrell, Alabama State Auditor, in a prepared statement first reported by Alabama Reflector
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theguardian.com/us-news/2025/jul/11/georgia-republican-ponzi-scheme
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