GAGOP Returns Frostopus Cash to Receiver
A few days ago I got a tip from a source with knowledge that the Georgia Republican Party was in the process of setting aside money they had received from the Frost Family. I thought that was awesome and I took to Twitter to say so.
On the latest podcast, I mentioned that our posture is to give the court appointed receiver, Greg Hays, time to get started before we shined a light on those who refuse to do the right thing and return these ill-gotten gains to the victims of the Frost Ponzi Scheme (Frostopus).
We got a weird call from the GAGOP Treasurer shortly after tweeting, demanding to know the source of our information, all the while telling us our tweet was false. That if there was anyone who would know if this was going to happen, it’d be her.
And then yesterday I got tagged in yet another claim that it wasn’t going to happen by Georgia National Committee Woman’s daughter. She told us that no money had been set aside for this purpose. I only mention this to point out in this political world, not everyone is credible.
Except us. Our sources are undefeated.
This statement from GAGOP Chairman, Josh McKoon just hit our inbox:
In a proactive effort to support the recovery process, our legal counsel initiated communication with the Receiver, who is diligently working to sort through the records related to First Liberty’s collapse. The Receiver’s initiative aims to recover assets and restore the losses suffered by hundreds of investors.
Today, just 10 calendar days after the Receiver’s appointment, the Georgia Republican Party has completed its diligent review of its records dating to 2021, communicated collaboratively with the Receiver to determine the maximum amount of contributions to be returned, and has delivered a payment of $36,843.97 to Receiver Gregory Hays, representing all contributions received from Brant Frost IV and his immediate family members from January 1, 2021, to the present.
Through this proactive cooperation with the Receiver, the Georgia Republican Party has taken a significant step in addressing the unfortunate circumstances surrounding the collapse of First Liberty.
While we were under no legal obligation to take this action, we voluntarily complied with the Receiver’s suggestion regarding the timeframe and scope of the donations. This decision reflects our commitment to doing what is right for the victims of this unfortunate situation.
On behalf of our Party, I am profoundly saddened that members of our conservative movement, along with many others, were misled by false promises of safe investments. This has left countless Georgians facing uncertain futures and financial distress.
I want to emphasize that the Party’s action is rooted in compassion and integrity, aimed at supporting the victims and their families. It has not been made at the demand of any level of government or any candidate for office, but rather is the discharge of our moral duty to do our part to assist those who have been affected by this tragedy.
The Georgia Republican Party remains dedicated to ensuring that the interests of our constituents are prioritized, and we will continue to vigorously advocate for those who have suffered as a result of these events.
So I will say it again, kudos, GAGOP. Well done!
There are a couple of things worth pointing out in Chairman McKoon’s statement. First, they are not only returning contributions received from Quattro, but his immediate family members as well. It does not fully answer the question about whether there will be consequences for other members of the Frost Family, but it is good to hear that these are also being returned. The second is that the party is under no legal requirement to participate, but just doing the right thing.
If there isn’t a legal obligation, there oughta be. If I was still in the House, I’d have already called legislative counsel to draft legislation.
But let’s not let this take anything away from lifting the party up for doing what’s right by the victims of the Frostopus. Everyone who voluntarily reaches out to make it right deserves the same kudos.
Oh, and what’s up with the Treasurer not knowing? eh… never mind. I don’t really care.
