Amidst apologies, are the fraudulent Frosts trying to shield their real estate assets from seizure? 

First Liberty Building and Loan, a non-bank lending firm run by the Frost family that recently collapsed, is currently under investigation by the SEC for allegedly defrauding clients of more than $140 million in what authorities are describing as a Ponzi scheme. 

Edwin Brant Frost IV and his son, Brant Frost V, led a majority of First Liberty’s operations. Both are heavily involved in Georgia’s Christian and conservative circles, with Edwin Frost IV notably managing Pat Robertson’s run for president in 1988. 

The family also holds many assets in the form of residential spaces and lots in Coweta County. Of the properties owned within the county, Frost IV resides in one and his son resides in another one, with other properties including a lot and another residential home. 

As the primary defendant in the SEC case, Edwin Frost IV’s assets were frozen by federal order. However, property records reveal that much of his real estate holdings are filed under his wife’s name, Krista Frost.

According to Coweta County property records, Edwin Brant Frost IV and his wife, Krista Frost, own over 1.4 million dollars in real estate in the county. Of that, Edwin Frost IV owns just one property valued at $318,600; the rest of the properties are under his wife’s name. Altogether, these assets in Coweta County alone equate to 1% of the total funds allegedly defrauded. 

As he faces legal pressure, Frost IV issued an apology through his attorneys.

“I take full responsibility for my actions and am resolved to spend the rest of my life trying to repay as much as I can to the many people I misled and let down,” said Frost. “I will be cooperating with the receiver and federal authorities and ask that everyone allow the receiver time to sort things out and do his best to repair the damage I created.”

Meanwhile, Brant Frost V is taking steps forward. On July 3, Frost V filed paperwork to incorporate a new Newnan-based firm, Heartland Capital, LLC, which will operate as a mortgage and non-mortgage loan brokerage firm. 

The SEC investigation remains ongoing, with a court-appointed receiver assessing the firm’s assets and investigating the possibility of recovering funds for victims.