Dozens of victims who lost their money in an alleged Georgia-based Ponzi scheme will get it all back as part of a $6.7 million agreement with the retirement and insurance firm, Bankers Life. First Liberty Building and Loan and its owners, Brant Frost IV and Brant Frost V, are under investigation by state and federal authorities. The SEC said First Liberty is a $140 million Ponzi scheme that targeted Christian conservatives and was closely connected to Georgia Republican leaders. Former Bankers Life financial adviser Nathaniel Darnell allegedly steered 46 of his investment clients to move money into First Liberty, and now Bankers Life has agreed to pay all those clients back for any losses. “I want to sincerely thank Bankers Life for acting with integrity. They, as a company, chose to do the right thing and help the Georgians who lost everything in this alleged Ponzi scheme,” said Georgia Secretary of State Brad Raffensperger. The Secretary of State’s Office said Darnell knowingly misled investors for five years at his job and recruited them into First Liberty. The majority of those Darnell clients were senior citizens. Victims’ money in alleged $140M Georgia Ponzi scheme difficult
