A federal receiver is on the hunt to recover $140 million lost in an alleged Ponzi scheme that benefited some Republicans in the top ranks of their party in Georgia and Alabama. He’s looking to claw back funds, including almost 1,000 political donations totaling more than $1 million, that often backed far-right Republican insurgents.
Some of these same politicians say they too lost money, but others left holding the bag for First Liberty Building & Loan are rank-and-file conservatives, swayed by talk show pundits who promoted it as an opportunity for Christians and “America First MAGA patriots.”
First Liberty had promised returns up to 16% by making high-interest loans to businesses. Brant Frost IV, 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 claims.
If I was clever and motivated, I’d get into this business. Come up with random maga schemes and just grift. It’ll be like taking candy from a baby.
Except the babies in this case deserve it
Anytime something has liberty or patriot or freedom or anything like that in the name I feel like it’s a giant red flag now.
Anytime I see anything with an American flag on it I get the same impression.
Because you aren’t the target.
The whole MAGA “movement” had always been nothing but a grift. I have zero sympathy for any of those rubes.
I get ads for patriot generators and foods all the time. I keep thinking the same thing.
Patriot Ponzy would be a hilarious name for… well. I’m not sure what kind of band. Maybe like, weird al goes death metal?
weird al goes death metal?
It’d have to be slopcore.
This works.
Hahahahhaha wait… No. Hahahaha
My response is the same but with way more Ahah ha ha ha ha’s.
Same but with jajaja’s
Lemme throw a lolz in there
They should know by now what a target rich environment for rubes they are. They should, but they don’t. That’s what makes them such good targets.
If I was a scumbag grifter. I’d focus on the conservative crowd first. Libs are fairly easy to upset but much harder to open their wallets.
Besides the “will they ever learn?” I want to know how they haven’t gone bankrupt yet.
I’m wondering if the Frost family involved in this scam has any relation to the Frost family who started Frost Bank in Texas.
