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First Liberty Building & Loan, owner accused by US SEC of operating $140 million Ponzi scheme

( July 10, 2025, 22:31 GMT | Official Statement) -- MLex Summary: First Liberty Building & Loan and its founder and owner Edwin Brant Frost IV have been accused by the US Securities and Exchange Commission of engaging in a Ponzi scheme that defrauded approximately 300 investors of at least $140 million. According to the complaint, from approximately 2014 through June 2025, First Liberty and Frost offered and sold to retail investors promissory notes and loan participation agreements that offered returns of up to 18 percent by representing that investor funds would be used to make short-term bridge loans to businesses at relatively high interest rates. Statement follows in full. Also see attached file. ...

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