EDWIN BRANT FROST IV and FIRST LIBERTY BUILDING & LOAN, LLC Are Subjects of an SEC Complaint – May Recover Investor Losses

EDWIN BRANT FROST IV and FIRST LIBERTY BUILDING & LOAN, LLC Are Subjects of an SEC Complaint – Goodman & Nekvasil, P.A., May Recover Investor Losses

EDWIN BRANT FROST IV and FIRST LIBERTY BUILDING & LOAN, LLC Are Subjects of an SEC Complaint.

Goodman & Nekvasil, P.A. is currently Investigating the Alleged Ponzi Scheme that Raised at least $140 million from Approximately 300 Investors

According to the SEC’s complaint, from approximately 2014 through June 2025, First Liberty and Frost offered and sold to retail investors promissory notes and loan participation agreements that offered returns of up to 18% by representing that investor funds would be used to make short-term bridge loans to businesses at relatively high interest rates.

The defendants allegedly told investors that very few of these loans had defaulted and that they would be repaid by borrowers via Small Business Administration or other commercial loans.

The complaint also alleges that, while some investor funds were used to make bridge loans, those loans did not perform as represented, and most loans ultimately defaulted and ceased making interest payments.

Call 800-500-4442 if you think that you have received unsuitable investment recommendations from your adviser.

Since at least 2021, First Liberty operated as a Ponzi scheme by using new investor funds to make principal and interest payments to existing investors, according to the complaint. The complaint further alleges that Frost misappropriated investor funds for personal use, including by using investor funds to make over $2.4 million in credit card payments, paying more than $335,000 to a rare coin dealer, and spending $230,000 on family vacations.

EDWIN BRANT FROST IV and FIRST LIBERTY BUILDING & LOAN, LLC Are Subjects of an SEC Complaint – Goodman & Nekvasil, P.A., May Recover Investor Losses

Goodman & Nekvasil, P.A., is investigating brokers who may have unsuitably recommended investments to their clients.

St. Petersburg, Florida law firm Goodman & Nekvasil, P.A., has a national practice representing victimized investors. The firm continues to investigate brokerage firms that placed elderly retirees and other conservative investors in unsuitable investments.

Goodman & Nekvasil, P.A., has filed numerous cases against brokerage firms selling high-risk investments and has recovered more than $400 million dollars on behalf of victimized investors.

We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives.

There is no charge for an evaluation of your case. We handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee.

If you incurred losses on your investment and would like your case evaluated by a securities attorney, please contact us.

Some of the information in this blog post was obtained from FINRA on 10/17/24. If you believe this information was reported incorrectly, please contact our firm: 1-800-500-4442.

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EDWIN BRANT FROST IV and FIRST LIBERTY BUILDING & LOAN, LLC Are Subjects of an SEC Complaint – Goodman & Nekvasil, P.A., May Recover Investor Losses

Call 800-500-4442 if you think that you have received unsuitable investment recommendations from your adviser.

Goodman & Nekvasil, P.A., is investigating brokers who may have unsuitably recommended investments to their clients.

Contact Us Today!