An alleged Georgia-based Ponzi scheme accused of defrauding conservatives, the elderly and churchgoers to the tune of $140 million is now threatening to unravel political alliances in Alabama—reaching into the upper tiers of Republican power.
On August 18, Georgia Secretary of State Brad Raffensperger issued a second round of subpoenas in his office’s expanding investigation into First Liberty Building and Loan. In an interview with WSB-TV Atlanta, Raffensperger said, “We are being diligent, vigorous, robust and we are going to get to the bottom of it.” The subpoenas seek additional financial and investor records, as investigators work to trace the money and uncover the full extent of the alleged $140 million Ponzi scheme.
The alleged mastermind, Brant Frost IV, used the promise of faith-based, high-return investments to attract more than 300 victims. According to federal regulators, he siphoned millions into rare coins, travel and political donations. By the time the scheme collapsed, less than $3 million remained in company accounts.
But the fallout didn’t stop at the Georgia state line.
In Alabama, Secretary of State Wes Allen has called on political figures to return any donations tied to Frost or his firms. Allen said in a statement that “these are dollars taken from hardworking investors under false pretenses, and they should be made available for restitution.”
Among those identified as recipients of Frost-linked contributions are Representative Benjamin Harrison of Elkmont, Alabama State Board of Education member Allen Long of Florence, and State Auditor Andrew Sorrell, along with his political committee, Alabama Christian Citizens. Sorrell has said he is in the process of returning the funds.
Behind the scenes, however, multiple sources tell APR that the scheme’s reach in Alabama politics runs much deeper. One GOP operative familiar with the matter said “there are individuals who were encouraging investments into First Liberty because they were getting a kick-back on each investment.” The source described a tightly woven network of influence in which political credibility was used to give the scheme a veneer of legitimacy.
Another longtime Republican insider said “some of these folks were promoting the deal in churches and GOP circles—pushing it like it was a mission, not a scam.” The insider suggested the pitch was carefully designed to appeal to Christian and patriotic values, making it harder for skeptics to question.
Several high-ranking Republican officials believed to be connected to Frost have declined to respond to requests for comment.
Despite the growing controversy, Alabama Attorney General Steve Marshall has yet to announce an investigation. One source with knowledge of the party’s internal politics said “don’t expect Steve Marshall to launch an investigation because he doesn’t want to step on any big toes.” That silence, especially in contrast to Georgia’s aggressive posture, is raising serious questions about Marshall’s willingness to hold political allies accountable.
Meanwhile, a federal court has frozen Frost’s assets and appointed a receiver to recover what remains for investors. The SEC’s civil complaint paints a picture of a decade-long con that used Christian language, Republican trust and community connections to harvest millions—then funneled that money into luxury and politics.
As Georgia regulators widen their probe and more subpoenas are issued, Alabama officials may soon have to reckon with their proximity to one of the largest financial frauds in the region’s recent history.
APR will continue to follow the money, the silence and the fallout.
(Except for the headline, this story has not been edited by PostX News and is published from a syndicated feed.)
