Chief U.S. District Judge Leigh Martin May ordered Edwin Brant Frost IV to serve 15 years in prison followed by three years of supervised release. Frost, 69, of Newnan, Georgia, founded First Liberty Building and Loan. He must also pay $76,454,374.39 in restitution after pleading guilty to wire fraud on May 12.
May imposed the sentence October 26. Frost was originally scheduled to be sentenced August 14. His lawyers asked to move the hearing to October 26, the government did not oppose the request, and May granted it.
Prosecutors said Frost pitched First Liberty to investors as a politically conservative, Christian lender. Between 2021 and July 2025, the company failed to generate enough revenue as loans defaulted, and Frost paid older investors with money from new clients. Investigators said Frost spent $570,000 in investor funds on political contributions…