SEC targets Edwin Brant Frost IV over alleged Ponzi scheme

The US Securities and Exchange Committee filed a complaint against Edwin Brant Frost IV of Georgia and his first building and his freedom loan, Bosni Anas, who claimed that the work was run as a Bonzi scheme.

The document confirms that Frost and his company “collected at least $ 140 million from about 300 investors by selling loan sharing agreements and earnings that provided annual returns from 8 % to 18 %.

“As of the year 2021, approximately 80 % of the main benefits and payments of investors from the new investor funds were obtained, and not from the interest payments of the bridge loan or the main payment,” SEC complaints claim.

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The Securities and Stock Exchange Commission claimed that the investor’s money will spend in various ways, some of which included the provision of more than $ 570,000 of political donations, the purchase of an hour worth $ 20,800 and reaps “more than $ 2.4 million of payments for credit cards issued to it and for commercial entities.”

The Associated Press indicated that the frost is Republican.

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The elephant, a symbol of the Republican Party, is in a rug in the lobby of the Republican Party headquarters in Washington. (Brooks Kraft LLC/Corbis via Getty Images)

“The promise of the high return on investment is the red flag that would make all potential investors think twice or maybe three times before investing their money,” said Justin Jeffrez, Assistant Director of the Regional Office in Atlanta, according to a press statement.

“Unfortunately, we have seen this film before-Sayun’s representatives attracting investors with excessive returns-and it does not end well.”

Lawyer Joshua Miz represents Robbins Allinfante Littlefield LLC frost on this issue, and Fox News Digital made a statement from Frost, which he admitted to be misled.

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US bills burn in London August 8, 2011 (Tom Stodart/Getty Emose)

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“I take full responsibility for my actions and decide to spend the rest of my life in an attempt to pay as much as I can for many people who have misled and took us. I will cooperate with the recipient and federal authorities and ask everyone to allow the future of the time to count things and do his best to fix the damage that I created,” I noticed in the statement.

“I would like to apologize personally to those who have been harmed, but I am under restrictions that prevent me from doing so. While I am not worth it, I am grateful to support friends and family and I face this position that I created.”