The state of Alabama is now going after a Newnan investment firm after the SEC accused it of being a Ponzi scheme.
First Liberty Building and Loan’s founder and owner, Edwin Brant Frost IV, advertised heavily on conservative media and with church organizations, claiming to be part of the so-called “patriot economy.”
But feds say Frost kept millions for himself and his family and used more than $500,000 to donate to candidates and political action committees…