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Georgia Secretary of State Refunds $6.7M to Ponzi Scheme Victims

4/2/2026

Summary

Story summary

Brad Raffensperger, Georgia Secretary of State, announced $6.7 million will be refunded to 46 victims of the First Liberty Building and Loan Ponzi scheme, which allegedly defrauded investors of $140 million.
The scheme involved Nathaniel Darnell, a financial advisor, who misled investors while acting independently of Bankers Life and was promoted on conservative talk shows.
Raffensperger's office has imposed $500,000 in fines and is pursuing criminal charges as investigations continue.

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Story summary

Brad Raffensperger, Georgia Secretary of State, announced $6.7 million will be refunded to 46 victims of the First Liberty Building and Loan Ponzi scheme, which allegedly defrauded investors of $140 million.
The scheme involved Nathaniel Darnell, a financial advisor, who misled investors while acting independently of Bankers Life and was promoted on conservative talk shows.
Raffensperger's office has imposed $500,000 in fines and is pursuing criminal charges as investigations continue.