NEWNAN, Ga. (AP) — A prominent Georgia Republican who ran a Ponzi scheme that federal prosecutors said caused losses of more than $76 million to more than 300 victims has been sentenced to spend 15 years in federal prison.
Edwin Brant Frost IV, 69, had pleaded guilty in May to a charge of wire fraud that resulted from an investigation that began after First Liberty Building and Loan collapsed in June 2025. Frost, who has publicly apologized for his role, was also ordered to pay more than $76 million in restitution.
Frost spoke during his sentencing hearing, saying it was “difficult to be here and to listen” to victims speak about the harm they suffered, The Atlanta Journal-Constitution reported.
“I have messed up a lot of good people's lives,” he said.
Chief U.S. District Judge Leigh Martin May said the length of the sentence was a reflection of the severity of the damage, the newspaper reported.
Investing in First Liberty was often pitched on talk shows hosted by conservatives, including Erick Erickson, Hugh Hewitt and Charlie Kirk.
It promised returns of up to 16% by making high-interest loans to businesses. Frost, an evangelical powerbroker, touted “Wall Street returns for Main Street investors.” But he skimmed $17 million for himself, his relatives and their affiliated companies, and loaned millions more that borrowers never repaid, a U.S. Securities and Exchange Commission lawsuit said.
The firm’s collapse rocked the religious and political networks that fed cash to the business, based in suburban Newnan, southwest of Atlanta. It also could have ramifications in state Republican politics, cutting off funding to the far-right candidates that Frost and his family have favored. Investigators said Frost spent $570,000 from investor funds on political contributions.
U.S. Attorney Theodore S. Hertzberg likened Frost to a “false prophet and ravenous wolf in sheep's clothing,” using religion, politics and promises of wealth to exploit investors and enrich himself.
“This was a stunning, sinful, and sacrilegious abuse of trust that wrecked hundreds of investors, including retirees and seniors who lost their life savings,” Hertzberg said in a press release.
FILE - The office of First Liberty Building and Loan, which federal officials allege was a Ponzi scheme, is seen on July 10, 2025, in Newnan, Ga. (AP Photo/Jeff Amy, File)
FILE - Edwin Brant Frost IV, a former principal of First Liberty Building and Loan, waits for an elevator, Dec. 22, 2025, in Atlanta. (AP Photo/Jeff Amy, File)
HYDERABAD, India (AP) — Indian authorities Tuesday evacuated tens of thousands of people from vulnerable coastal areas in eastern Andhra Pradesh state as a severe cyclone over the Bay of Bengal was expected to make landfall along the country’s east coast, authorities said.
The India Meteorological Department said Cyclone Arnab strengthened into a “very severe” cyclonic storm and was expected to make landfall along the Andhra Pradesh coast by early Wednesday morning with gusting winds and heavy rain.
According to officials at the state's disaster management authority, Cyclone Arnab’s outer bands began lashing parts of the Andhra Pradesh coast late Tuesday as the storm intensified over the Bay of Bengal and moved toward an earlier-than-expected landfall. Officials previously had predicted a landfall later in the morning.
“There is a possibility it will fully reach the coast between 2 a.m. and 4 a.m. local time,” said Prakhar Jain, a top disaster management official in Andhra Pradesh. He said “heavy to very heavy” rainfall was expected in several districts under the influence of the cyclone.
“These critical hours require utmost vigilance,” Jain said.
Authorities placed all the state's coastal districts on high alert and began evacuating people from low-lying and flood-prone areas ahead of its expected landfall. They also canceled some train services as heavy rain and gusty winds had already started lashing parts of the coast, officials said. At least 89,000 people have so far been evacuated in Andhra Pradesh, according to an official statement.
The state’s disaster management authority said more than 12 million people live along the cyclone’s expected path.
Jain said the cyclone was moving at about 20 kph (12 mph).
“Extremely heavy rains and strong gusty winds” are likely in parts of the coastal region on Tuesday and Wednesday, he said. Officials warned that winds of up to 140 kph (87 mph) could accompany the storm at the time of landfall.
Authorities set up over 2,000 cyclone shelters across 20 districts, while emergency alerts were being sent to the mobile phones of millions of residents, Jain said, according to the Press Trust of India news agency. More than 30,000 fishing boats were secured along the coast, while nearly 1,100 medical teams were deployed across affected areas to provide emergency assistance, he added.
In neighboring Odisha, officials planned to evacuate about 48,000 people from areas likely to be affected by the storm.
This screen grab, taken from the India Meteorological Department website, shows the storm Arnab over west central Bay of Bengal, India, Tuesday, Oct. 27, 2026. (India Meteorological Department via AP)
People use umbrellas to shield themselves from strong winds as Cyclone Arnab approaches the Andhra Pradesh coast, in Visakhapatnam, India, Tuesday, Oct. 27, 2026. (AP Photo)
