Frost family faces GOP scrutiny after First Liberty Building and Loan scandal

Frost family under scrutiny after 'First Liberty' scandal

A Republican National Committee member who represents Georgia says she believes even though they are not named in the lawsuit, three of Frost's family members should be removed from Georgia Republican leadership roles.

NEWNAN, Ga. - Thursday marks a week since federal investigators filed a lawsuit claiming Brant Frost IV and his Newnan company "First Liberty Building and Loan" defrauded investors in a massive $140 million Ponzi scheme.

A Republican National Committee member who represents Georgia says she believes even though they are not named in the lawsuit, three of Frost's family members should be removed from Georgia Republican leadership roles.

What we know:

In a press release posted on ‘X’, Amy Kremer an RNC National Committeewoman from Georgia, says members of the Frost family should be removed from their "leadership positions within the Georgia Republican Party."

In a statement Kremer says "While it will be up to ongoing investigations to determine their individual roles, their continued presence in any capacity within the Georgia Group is unacceptable and inappropriate."

FOX 5 reached out to Kremer who declined a request for an on-camera interview.

A Georgia GOP official also declined an interview request but tells FOX 5 that the state committee does not have the ability to remove two out of the three family members of Frost IV. The official said even if they did just because they are family with someone does not mean they are guilty.

Besides removing the Frost family from Georgia GOP leadership roles, Kremer called on the Georgia Republican Party to return any donations from the Frost family and First Liberty. Georgia Democrats have also made the same request along with Georgia Secretary of State Brad Raffensperger who told us Wednesday he returned donations he received.

What they're saying:

"We say, send the money back. It's the right thing to do," Raffensperger said.

The SEC is not the only agency looking into this, Raffensperger says the state is too.

"We are really active in this with our state investigation, and we will be releasing information as we can, working in conjunction with our federal partners," he said.

The other side:

Frost IV released this statement to FOX 5: 

"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 the many people I misled and let down. I will be cooperating with the receiver and federal authorities and ask that everyone allow the receiver time to sort things out and do his best to repair the damage I created. I would like to apologize personally to those I have harmed, but I am under restrictions which prevent me from doing so. While I do not deserve it, I am grateful for the support of friends and family as I confront this situation I created."