Georgia Republican donor gets 15 years in $76 million Ponzi scheme
Republican donor Edwin Brant Frost IV in Georgia has been sentenced to 15 years in prison in a $76 million Ponzi scheme.
According to federal prosecutors, Frost lured investors with promises of high returns.
Prosecutors said he used money from new investors to pay earlier investors — the method at the centre of the Ponzi scheme.
He also used investors' money to fund personal expenses, federal prosecutors said.
His sentence in the case is 15 years. The total amount in the scheme was put at $76 million in the prosecutors' account.
