The quiet, brick-lined streets of downtown Newnan, Georgia, aren't usually the backdrop for a $140 million federal meltdown. But if you walked past the storefront of First Liberty Building & Loan on a Tuesday morning in early 2025, you would’ve seen a business that looked like the very definition of "Main Street values." There were the Republican campaign signs. There was the sticker on the door declaring the property protected by Jesus Christ.
And right in the middle of it all was Brant Frost V.
He wasn't just another guy in a suit. He was a powerhouse in the local GOP, the chairman of the Coweta County Republican Party, and a former vice-chair of the state party. People trusted him because they knew his family. They’d known them for generations. Honestly, in a place like Newnan, that kind of pedigree is better than a credit score. Then, everything came crashing down.
The First Liberty Collapse and Brant Frost V
When the SEC filed its massive lawsuit in July 2025, the shockwaves didn't just hit the bank accounts of 300 investors; they leveled the political landscape of Georgia. The complaint alleged that First Liberty, run by Brant’s father, Edwin Brant Frost IV, was basically a textbook Ponzi scheme. They promised 18% returns on "bridge loans" to small businesses. Sounds great, right? Except the SEC says those loans weren't really happening—at least not at the scale they claimed.
Instead, the feds say the elder Frost was using new investor money to pay off the old ones. And while his father was the face of the company, Brant Frost V was a principal at the firm. He was in the room. He was the one telling people that investing with them was a way to grow a "patriot economy."
It’s messy.
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The SEC claims the family siphoned off over $5 million for personal use. We're talking jewelry, rare coins, and even six-figure rentals for vacation homes in Maine. When the news broke, Newnan felt small. Suddenly, the "Sunday school teacher" image didn't match the "Aston Martin" lifestyle being described in court documents.
Resignations and the Ethics Fallout
By August 2025, the pressure was too much. Brant Frost V resigned from the Georgia Republican State Committee and stepped down as the head of the Coweta GOP. He said it was to focus on his family and the birth of his first child.
State GOP Chairman Josh McKoon was quick to say the resignation wasn't an admission of guilt. Maybe so. But the timing was impossible to ignore. Shortly after he left his posts, the Georgia Ethics Commission dropped a 24-page complaint against the Georgia Republican Assembly PAC, which Brant headed.
The state says the PAC failed to file nearly two dozen disclosure reports. They're looking for over $200,000 in "missing" expenditures. It turns out, when you run a political organization out of the same office as a company accused of being a Ponzi scheme, people start asking where the campaign cash actually went.
Why the Newnan Connection Matters
You've got to understand the geography here. Newnan isn't just a suburb; it’s the heart of Coweta County. It’s a place where political influence is built over coffee at the square. The Frost family didn't just live there; they influenced the very texture of the town’s conservative identity.
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They weren't just "establishment" Republicans. They were the ones fighting the establishment. They used their First Liberty office as a hub for the Georgia Republican Assembly, a group dedicated to purging "traitors" from the party.
- The Office: 22 Greenville Street in Newnan.
- The Vibe: High-gloss Christian conservatism mixed with aggressive grassroots campaigning.
- The Conflict: Brad Raffensperger, the Secretary of State, has been a frequent target of the Frosts. Now, Raffensperger is the one calling on candidates to return every cent of "ill-gotten" Frost money.
It’s a bizarre twist of fate. The people who spent years questioning the integrity of Georgia’s elections are now having their own financial integrity dismantled by the state and federal government.
The New Life of Brant Frost V
So, where is he now?
In late 2025, reports surfaced that Brant Frost V had pivoted. He’s no longer in the loan business—that’s obviously over. Instead, he obtained an insurance producer's license in Georgia. As of December 2025, he’s reportedly working as an insurance agent in Newnan, focusing on life, accident, and sickness lines.
It’s a stark change from being the kingmaker of the Coweta GOP.
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While his father, Brant IV, issued a public apology through lawyers—taking "full responsibility" for the $140 million hole—Brant V has mostly stayed quiet. He hasn't been named as a defendant in the SEC’s civil suit, though he has been subpoenaed for documents. He’s basically trying to rebuild a life in the same town where his family name is now synonymous with one of the largest financial scandals in local history.
Actionable Steps for Those Affected
If you’re in Newnan or the surrounding Coweta area and you were involved with First Liberty or the Frost family’s political PACs, you aren't just a bystander. There are actual things you need to do.
1. Contact the Receiver
The court appointed S. Gregory Hays as the receiver for First Liberty. If you have money tied up in the company, he is the only person who can help you claw it back. Don't call the old First Liberty number; they aren't answering. Go through the official SEC-appointed channels.
2. Audit Your Political Contributions
If you are a local candidate or run a small PAC and you received money from the Frost family or First Liberty Building & Loan, the Georgia Secretary of State has requested those funds be returned. Holding onto that cash right now is a PR nightmare and a potential legal liability.
3. Verify Insurance Credentials
If you are doing business with any new insurance entities in Coweta County, use the National Association of Insurance Commissioners (NAIC) website to verify licenses. It’s standard practice, but especially relevant given the recent career shifts of former First Liberty principals.
4. Monitor the State Ethics Commission
The investigation into the GRA PAC is ongoing. If you donated to that PAC thinking it was for "grassroots" causes, keep an eye on the itemized expenditure reports that are (hopefully) going to be forced into the public record soon. You have a right to know if your "patriot economy" donation actually paid for a luxury car or a beach house in Maine.
The situation in Newnan is still evolving. Between the federal freeze on assets and the state ethics probes, the full story of the Frost family’s influence—and its cost—is likely to take years to fully untangle.