The Georgia Hour, episode 118: Georgia Implodes in $140M Ponzi Scandal: Will It Cost The GOP the 2026 Senate Race?

The 2026 Geor­gia Sen­ate race heats up as incum­bent Demo­c­rat Jon Ossoff sets a fundrais­ing record. Under Josh McK­oon’s lead­er­ship, the GAGOP faces back­lash over ties to the Frost fam­i­ly’s $140M Ponzi scheme through First Lib­er­ty Build­ing & Loan. Brant Frost V, entan­gled in the scan­dal, launched Heart­land Cap­i­tal despite ongo­ing inves­ti­ga­tions, rais­ing ques­tions about state over­sight. Sec­re­tary of State Brad Raf­fensperg­er urges return of taint­ed dona­tions, while Amy Kre­mer demands the Frost fam­i­ly’s removal from GOP lead­er­ship. Will this scan­dal tip the scales for Ossoff and Democ­rats aim­ing to nar­row Repub­li­can majori­ties?

• In Geor­gia we have a sen­ate race in 2026. In the state of Geor­gia Don­ald Trump won the state, the per­cent­age that he won by was not impres­sive. A lot of peo­ple talk about black men shift­ed for Trump. The guy that may end up being the demo­c­rat can­di­date, Esteves, he will shut down black men mov­ing over to repub­li­can. As we start talk­ing about the implo­sion that is hap­pen­ing with­in the GAGOP. John Ossoff is the demo­c­rat incum­bent for US Sen­ate and he is set­ting a record pace in fundrais­ing. The mon­ey has arrived because they smell blood in the water. They plan on keep­ing the seat and they plan an extra one or two and plan to nar­row the majori­ties in the House and Sen­ate. Now the GAGOP has implod­ed under the lead­er­ship of Josh McK­oon as he caters to the Frost fam­i­ly who par­tic­i­pat­ed in a $140M Ponzi scheme. As soon as the net­works need this to be a top sto­ry, it will turn into one. The AJC is pulling it along. 
• There are arti­cles that Brant V was in on the scheme. He is very entan­gled in the GAGOP. He was the face of the fam­i­ly and in the orga­ni­za­tion, First Lib­er­ty Build­ing & Loan. Brant V solicit­ed GA repub­li­can par­ty state del­e­gates, com­mit­tee mem­bers, and he issued pay­ments and made deals. Brant V was doing PR work across the coun­try for the com­pa­ny. 
• The polit­i­cal con­tri­bu­tions came from every­one in the fam­i­ly includ­ing the chil­dren and from the com­pa­ny and GRA PAC. Brant con­trolled the PAC. Brant Frost V is the cur­rent Cowe­ta Coun­ty chair and part of the state com­mit­tee. When Brant V was not the sec­ond vice chair he con­trolled the vot­ing in the state com­mit­tees. He was the guy that made sure there was a screen­shot and hand­ed out the click­ers, with names on the click­ers. They knew they were going to need to take pic­tures of how cer­tain peo­ple vot­ed on res­o­lu­tions. 
• Actions speak loud­er than words, to Josh McK­oon he is more con­cerned about the Frost fam­i­ly rather than the vic­tims. 
• Can we find out if around June 10th if Brant Frost V left the coun­try, did he go to Europe? 
• First Lib­er­ty founder’s son launch­es new lend­ing firm after col­lapse. Brant V cre­at­ed Heart­land Cap­i­tal on July 3, 2025. You can’t make this up. 
• The SOS has a civ­il inves­ti­ga­tion into First Lib­er­ty Build­ing and Loan. Write Brad Raf­fensperg­er and Gabe Ster­ling to say: We under­stand that the SOS has an inves­ti­ga­tion into FLBL and the $140M Ponzi scheme. How could the state of GA issue and reg­is­ter a new busi­ness for Brant V basi­cal­ly hav­ing the same busi­ness mod­el that is being shut down? 
• Remem­ber there are vic­tims in this. That should be the pri­or­i­ty and we have an elec­tion com­ing up. 
• Just two days ago, Josh McK­oon, Michael What­ley, Alex Kauf­man, Den­nis Futch met for lunch. We are also hear­ing Jason Thomp­son, Gin­ger Howard and Bet­sy Kramer were at the table. What was talked about? The Con­sent Judge­ment is filed and it is ordered that FLBL to pay $34K to Alex Kauf­man, the same attor­ney for GAGOP Inc, where the Frost fam­i­ly is entwined in the GAGOP and also the GAGOP received funds and in-kind dona­tions from the Frost fam­i­ly.  Josh McK­oon should come out to ask for the res­ig­na­tion of the Frost fam­i­ly and cut a check for the AJC to report. The rumor is that GAGOP is set­ting mon­ey aside. But Josh could make an exam­ple and put the vic­tims first. 
• Brad Raf­fensperg­er and Gabe Ster­ling are get­ting the wins on this for doing the right thing. Of all peo­ple Brad Raf­fensperg­er is the one doing the right thing. Just a month ago the GAGOP was ready to get rid of him and the AJC is report­ing him as a Top Repub­li­can Offi­cial. Now he is get­ting his pic­ture, giv­ing the check return­ing the dona­tions by the Frost fam­i­ly. Why are lead­ers not step­ping up? The base votes and knows this is hap­pen­ing. 
• This is courage and doing the right thing. Amy Kre­mer, RNC nation­al com­mit­tee woman of GA is ask­ing for the removal of the Frost fam­i­ly from the GAGOP lead­er­ship posi­tions and com­mit­tee posi­tions. She is also ask­ing for a full refund of all dona­tions and con­tri­bu­tions to the GAGOP made by the Frost fam­i­ly, FLBL and all affil­i­at­ed enti­ties and PACs to be direct­ed to the court-appoint­ed receiv­er.   
• GAGOP has a prob­lem. You think the democ­rats are leav­ing the can­di­dates alone right now. As soon as the tim­ing is right and they need to ensure John Ossoff needs the win, don’t be caught off guard when all the net­works and social media explode. Wait for the mail­ers for your can­di­date. 
• Michael What­ley, RNC chair, does not care about rigged elec­tions. He knows what hap­pened in GA. 
• Was Josh McK­oon the reg­is­tered attor­ney for Brant Frost IV in his legal alter­ca­tion with the Cowe­ta Coun­ty Board of Edu­ca­tion? 
• Kan­diss Tay­lor seems to be the last con­trib­u­tor from the Frost cook­ie jar receiv­ing $3500 from Krista Frost and report­ing shows she only has $3000 in the bank. Was the con­tri­bu­tion a pay­off after she was on the nom­i­nat­ing com­mit­tee with Krista Frost and Katie Frost? Is she going to give the mon­ey back? 
• Has the Frost fam­i­ly built a file on the politi­cians? There are rumors that invest­ments have been made so you can’t con­nect it to the politi­cians.