When Newnan businessman Edwin Brant Frost IV appears for sentencing Monday, October 26, federal prosecutors will ask for 14 years in prison for his role in the First Liberty Ponzi scheme. His attorneys will ask for five. The competing recommendations come in two sentencing memoranda filed October 19 in U.S. District Court. They present sharply different accounts of the 69-year-old businessman who pleaded guilty in May to one count of wire fraud. Frost’s attorneys submitted more than 80 character letters from family members, pastors, political associates, business owners, and longtime friends. They describe a generous Christian community leader who helped struggling businesses, supported charitable causes, and devoted considerable time to helping others. Federal prosecutors describe a man who used religious and political connections to gain investors’ trust, ultimately causing more than $76 million in losses to more than 300 victims. Several victims say they can no longer afford to retire. Others describe broken friendships, damaged health, and the loss of financial security built over decades. Both sides agree that Frost should go to prison. The question before Chief U.S. District Judge Leigh Martin May is for how long. Frost’s defense attorneys argue that his criminal conduct should be considered against the backdrop of decades of community service, charitable activities, and previously legitimate business operations. Attorneys Marc Mukasey and Nicholas Lotito argue that a…
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