A prominent Georgia Republican was running a Ponzi scheme that defrauded 300 investors of at least $140 million, federal officials alleged in a complaint filed Thursday.The civil lawsuit by the U.S. Securities and Exchange Commission said First Liberty Building and Loan,

Edwin Brant Frost IV, a well-known Republican, is accused of defrauding 300 investors of $140 million, and using some funds for political donations. He said he took “full responsibility.”