COWETA COUNTY, Ga. — Luxury cars seized from the family behind an alleged Georgia-based Ponzi scheme are being auctioned off, with the proceeds going toward efforts to repay victims.
Channel 2 Consumer Investigator Justin Gray got an exclusive look at the Aston Martin, Cadillac Escalade and three Land Rovers that were owned by the Frost family and are now available to the highest bidder at auction.
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“We’ve worked hard to try to make sure we can put as much money on the table to get to right whatever wrongs have happened,” said auctioneer Scott Schwartz of Bullseye Auction and Appraisal.
The SEC shut down First Liberty over the summer, saying that investors’ money was being diverted to conservative political donations and luxury items like cars and jewelry.
Investigators allege First Liberty targeted conservative Christians and Republican donors with investment opportunities that were actually a $140 million Ponzi scheme.
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The SEC alleges that more than $5 million was diverted from investors into the pockets of Brant Frost IV and his family.
Along with the luxury cars, the former First Liberty headquarters in downtown Newnan is also up for auction.
The building auction runs online through January 27.
The auto auction runs through January 22 at 11 a.m.
Click here to view the items up for auction.
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