Raffensperger Secures $6.7M for Ponzi Victims, Political Ties Exposed
Durham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Georgias Secretary of State, Brad Raffensperger, secured a significant victory as Bankers Life agreed to refund $6.7 million to 46 investors affected by a $156 million Ponzi scheme involving First Liberty Building and Loan. The scheme targeted prominent Republicans, including Georgia and Alabama political figures, through a former adviser, Timothy Darnell. Raffenspergers office held the firm accountable for not properly supervising Darnell. Victims, including grassroots Republicans and PACs linked to party leaders, suffered substantial losses due to ads on conservative radio shows. Raffenspergers team imposed $500,000 in civil fines and referred individuals for potential criminal charges. A court receiver has recovered $5.16 million so far while pursuing unpaid loans. Raffensperger is leveraging this achievement in his gubernatorial campaign, having successfully defended his securities powers and gained new tools to reimburse victims directly.
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