Georgia GOP Leadership Faces Crisis Amid Financial Scandal Involving Prominent Family
A deepening financial scandal linked to a prominent family in Georgia’s Republican Party is threatening a leadership crisis within the state party. On July 10, the U.S. Securities and Exchange Commission (SEC) filed a civil lawsuit against Newnan-based First Liberty Building & Loan, LLC and its founder, Brant Frost IV, alleging a staggering $140 million Ponzi scheme that defrauded over 300 investors.
The SEC claims that Frost IV misused investor funds to line his own pockets and those of family members, amounting to more than $5 million. Additionally, the lawsuit alleges he funneled over $570,000 into political contributions during the 11-year scheme. The SEC has secured a court order to freeze the company’s assets and appointed a receiver to recuperate losses for affected investors.
Brant Frost IV has been a significant figure in Georgia politics since 1988 and has family members occupying key positions in the GOP. His son, Brant Frost V, is the chair of the Coweta County Republican Party, and his wife holds an executive role within the state party. Federal records reveal a pattern of political donations from the Frost family to state and federal GOP campaigns.
Georgia Secretary of State Brad Raffensperger has urged political beneficiaries of the Frosts’ contributions to return any "ill-gotten gains" to the victims.
Calls for accountability are intensifying, with Upson County Republican Chairman Lisa Pierce advocating for a resolution to ban the Frost family from the GOP. Her appeal follows allegations of impropriety during the recent state convention, raising questions about fairness within party leadership. While the resolution is gaining traction among local party members, it has yet to be formalized or addressed by state leaders.
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