First Liberty Building & Loan, LLC

The SEC has charged First Liberty Building & Loan, LLC and its founder, Edwin Brant Frost IV, with operating a $140 million Ponzi scheme that defrauded approximately 300 investors over a period spanning more than ten years. The Newnan, Georgia-based company is accused of selling fraudulent promissory notes and loan participation agreements under the guise of funding short-term business loans.

From 2014 through June 2025, investors were promised returns as high as 18 percent. However, according to the SEC, most of the loans made by First Liberty defaulted. Since at least 2021, the firm allegedly used money from new investors to pay interest and principal to earlier investors. This type of activity is a hallmark of a Ponzi scheme.

The complaint also states that Frost misappropriated millions of dollars in investor funds for personal use, including paying credit card bills, purchasing rare coins, and funding luxury travel. In response to the charges, the court has ordered an asset freeze, the appointment of a receiver, and other emergency measures.

Investors who were harmed by this scheme may be able to pursue recovery not only through the SEC’s efforts but also by filing claims against third parties who may have assisted or enabled the fraud. These may include brokers, advisors, custodians, or others who failed to act in your best interest.

If you invested with First Liberty Building & Loan or Edwin Brant Frost IV, contact ChapmanAlbin to find out if you may be eligible for compensation.

Call 1-877-410-8172 or visit chapmanalbin.com to schedule a free consultation.