💨 Abstract

A federal receiver is seeking to recover $140 million lost in a suspected Ponzi scheme involving First Liberty Building & Loan, which benefited some Republicans in Georgia and Alabama. Nearly 1,000 political donations totaling over $1 million have been identified. Prominent conservatives promoted the scheme, targeting "America First MAGA patriots." Brant Frost IV, the scheme mastermind, diverted millions, including at least $17 million for personal use.

Courtesy: WTOP Staff