SEC accuses Georgia Republican of operating $140 million Ponzi scheme

The Securities and Exchange Commission accused a Georgia Republican of running an elaborate Ponzi scheme in a civil lawsuit filed Thursday that scammed 300 investors out of $140 million. Edwin Brant Frost IV is also accused of pocketing $17 million for himself, his family, and affiliated companies, as well as spending $573,000 on political donations to Republicans. On Friday, he issued a public apology. “I take full responsibility for my actions and am resolved to spend the rest of my life trying to repay as much as I can to...