First Liberty Building & Loan Ponzi Scheme: Rep. Scott Blasts SEC's Oversight

First Liberty Building & Loan Ponzi scheme: Rep. Scott blasts SEC's oversight

Congressman David Scott demands a thorough investigation into the SEC's failure to detect First Liberty's $140 million Ponzi scheme.

David Scott Demands SEC Accountability and Transparency for Massive Georgia Ponzi Scheme Operation

WASHINGTON D.C. – Today, Congressman David Scott (GA-13), a senior member of the House Financial Services Committee, sent a letter to Securities and Exchange Commission (SEC) Chair Paul Atkins demanding answers over the agency’s failure to detect the sprawling $140 million Ponzi scheme orchestrated by Georgia-based lender First Liberty Building and Loan. The letter calls for greater transparency and accountability following the SEC’s federal sei…