The SEC alleges that First Liberty, a Georgia-based investment firm, operated as a Ponzi scheme, misappropriating over $5 million in investor funds. Founder Brant Frost IV used the money for personal expenses, including luxury items and political donations. The SEC is seeking a receiver to manage the company's assets and recoup funds for investors. First Liberty has ceased operations and cooperated with the SEC investigation. The firm targeted conservative investors through marketing campaigns across various media platforms, exploiting trust built on shared political and religious beliefs.

Prepared by Christopher Adams and reviewed by editorial team.