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    Home»Crypto News»Alleged Ponzi Fraudster Fleeces $140,000,000 From 300 Traders After Mortgage Enterprise Collapse: SEC – The Every day Hodl
    Alleged Ponzi Fraudster Fleeces 0,000,000 From 300 Traders After Mortgage Enterprise Collapse: SEC – The Every day Hodl
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    Alleged Ponzi Fraudster Fleeces $140,000,000 From 300 Traders After Mortgage Enterprise Collapse: SEC – The Every day Hodl

    By Crypto EditorJuly 14, 2025No Comments3 Mins Read
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    The U.S. Securities and Trade Fee (SEC) says {that a} Georgia man allegedly defrauded 300 buyers in a Ponzi scheme after his mortgage enterprise fell aside.

    In a brand new press launch, the SEC is accusing Edwin Brant Frost IV and his enterprise, First Liberty Constructing & Mortgage, of working a Ponzi scheme by misappropriating funds and deceptive buyers.

    In response to authorities, between 2014 and June 2025, the agency operated by providing buyers promissory notes and mortgage participation agreements with returns of as much as 18% for short-term loans to companies at excessive rates of interest that hardly ever defaulted. Frost and his firm allegedly assured buyers that the defaulted loans can be repaid by debtors utilizing funds from the Small Enterprise Administration or different industrial lenders.

    However since 2021, Frost allegedly ran First Liberty Constructing & Mortgage as a Ponzi scheme after most loans defaulted. The SEC accuses Frost of utilizing new investor capital to make principal and curiosity funds to current buyers.

    The grievance additionally alleges that Frost misappropriated the funds for private use, similar to buying uncommon cash, paying off private debt and occurring holidays. The SEC accuses Frost and First Liberty Constructing & Mortgage of defrauding 300 buyers to the tune of $140 million.

    Says Justin C. Jeffries, Affiliate Director of Enforcement for the SEC’s Atlanta Regional Workplace,

    “The promise of a excessive charge of return on an funding is a pink flag that ought to make all potential buyers suppose twice or possibly even thrice earlier than investing their cash. Sadly, we’ve seen this film earlier than – unhealthy actors luring buyers with guarantees of seemingly over-generous returns– and it doesn’t finish properly.”

    In an announcement to Fox Information, Frost admits his involvement and wrongdoing within the scheme and says he’ll cooperate with investigators.

    “I take full duty for my actions and am resolved to spend the remainder of my life attempting to repay as a lot as I can to the many individuals I misled and let down. I shall be cooperating with the receiver and federal authorities and ask that everybody enable the receiver time to type issues out and do his finest to restore the harm I created.”

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    Alleged Ponzi Fraudster Fleeces $140,000,000 From 300 Traders After Mortgage Enterprise Collapse: SEC – The Every day Hodl

    Disclaimer: Opinions expressed at The Every day Hodl are usually not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any losses chances are you’ll incur are your duty. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in online marketing.

    Featured Picture: Shutterstock/Zapp2Photo



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