WASHINGTON, Oct. 26 -- The U.S. Department of Justice's U.S. Attorney's office for XXXXXX (insert district) issued the following press release:
NEWNAN, Ga. - Edwin Brant Frost IV has been sentenced to 15 years in federal prison for operating a massive Ponzi scheme that victimized more than 300 investors and caused a loss of over $76 million.
"Like a false prophet and ravenous wolf in sheep's clothing, Frost used religion, politics, and promises of profitable returns to lure investors into giving him their hard-earned money. He wickedly exploited their faith to plunder their accounts and enrich himself," said U.S. Attorney Theodore S. Hertzberg. "This was a stunning, sinful, and sacrilegious abuse of trust that wrecked hundreds of investor...