$140M Political Ponzi Scheme Exposes “Affinity Fraud” in Georgia GOP Circle
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Another major political Ponzi scheme. This stuff breaks my heart. It really does. I’ve explained this to people before. I’ve been going after carnivorous fraudsters for decades now, and I lose. Honestly, I freaking lose all the time. I preach and I talk.
and I try to explain and I warn people, I point them out on the podcast, I point them out on my radio show, people get in contact with me, I warn them. And people don’t listen. They wanna believe. They want to believe. And then, know, after the fact, well, you know, he was big in politics and he was great in the community and he was on that Kristin show and…
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Again, my job is pretty much an exercise of futility for the most part. I’ve come to recognize that it is what it is. This out of Atlanta, Georgia, a very big political player in Republican Georgia politics. Edwin Brandt Frost, the fourth. Yeah, the fourth. His family has been involved in Georgia politics for some time.
Former president of the now defunct First Liberty Building and Loan LLC. Massive, multi-million dollar Ponzi scheme. He solicited investors in the state of Georgia. You’re talking altogether, what was it? It was $140 million.
that he raised from 300 investors. Basically saying that, hey, I’m raising this money and it’s going to be used to fund loans to businesses, bridge loans. Bridge loans to businesses and you’re gonna make anywhere between eight to 18 % on your money. Interesting, usually.
bridge loans and again, they used to be used a hell of a lot more back in the 1990s prior to Glass-Steagall prior to IPOs. It’s a lot of paperwork involved with this stuff. You know the company that you’re lending it to and you can actually take a look at it. This is something completely different. 300 investors, he was pulling this off for four years. Four years of the money. Some of it was used to pay off initial investors Ponzi scheme.
230,000 went to rent a vacation home in Maine $140,000 for him to purchase jewelry 20,800 for a Patek believe watch 2 million on credit card bills and 570,000 on political contributions. Let’s let that hang there for a second. And Bernie Moreno Chip Roy.
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all sorts of politicians did not give a lot to the president, but I’m curious to see, because we’re going to be watching for this, if this guy magically gets pardoned. This guy magically could happen. Could happen. Family’s got a lot of money. Family has a lot of money. That’s how justice works in this country today. Well, they use the word justice, but there is no justice.
Again, he ripped off $140 million. $140 million. I’m gonna wait and see. I’m gonna see how long before this guy, again, I’m predicting, pardon, let’s just leave it at that. This guy, this guy was a veteran Georgia Republican operative. Major ties to the party. He actually coordinated Pat Robertson’s 1988,
presidential campaign in Georgia. Both his kids holding leadership roles in Georgia GOP politics. He was appearing, peering on Christian YouTube channels praising a once in a century miracle of Republican control of the White House, saying it, you know, it’s a faith based and
conservative thing, we have a patriot economy. First liberty. This is what we call affinity fraud. This is what we call affinity fraud. It marketed itself to conservative Christian investors, aligning with Trump-era MAGA and faith-based appeals.
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I see this all the See this all the time. I think like you, I vote like you, therefore you can trust me.
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same shit different day.
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Now, a day doesn’t go by, I don’t see another one of these things. These smooth frickin’ operators, working people at churches, various different annuities, scams, whatever it may be, one thing after another.
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$140 million Ponzi scheme targeting people.
Christian YouTube stations. I don’t what to tell you people. I really don’t. I hope there is some sort of justice here. His family has a lot of money. Has a lot of money, but I’m sure that they’re, you know, protected from having to pay people back. But yeah, I don’t…
I don’t know how many more as I said, I see this guy come up on a pardon list. I said I got to put it. I got to put a frickin heavy bag here in my office. Watchdog on Wall Street.com.
