ATLANTA — Federal prosecutors charged the founder of a Georgia investment vehicle with wire fraud Thursday in connection with an alleged Ponzi scheme. Edwin Brant Frost IV, owner and president of the defunct First Liberty Building and Loan, allegedly scammed those in his orbit in what the FBI and prosecutors described as a “classic” Ponzi […] ATLANTA — Federal prosecutors charged the founder of a Georgia investment vehicle with wire fraud Thursday in connection with an alleged Ponzi scheme. Edwin Brant Frost IV, owner and president of the defunct First Liberty Building and Loan, allegedly scammed those in his orbit in what the FBI and prosecutors described as a “classic” Ponzi scheme, using new investor funds to pay earlier investors while concealing significant financial losses. “Frost abused the trust of his clients, family, and friends by allegedly soliciting investors with promises of sizable returns, while knowing the money raised would instead be used for his personal expenses and to pay early investors to maintain the illusion of profits,” U.S. Attorney Theodore S. Hertzberg said in a statement Thursday after Frost IV was arraigned in federal court in Atlanta. Frost IV, 68,

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