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newsApr 1, 20261:26

Raffensperger Secures $6.7M for Ponzi Victims, Political Ties Exposed

About this episode

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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Raffensperger Secures $6.7M for Ponzi Victims, Political Ties Exposed

Durham News Today | 2 Min News | The Daily News Now!

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Durham News Today | 2 Min News | The Daily News Now!Raffensperger Secures $6.7M for Ponzi Victims, Political Ties Exposed. Machine-transcribed; use the interactive transcript above to jump the player to any line.

It's April 1st. This is Durham News today, your AI-powered local news. Georgia Secretary of State Brad Raffin's Perger scored a big win this week, announcing that Banker's life agreed to refund $6.7 million. Dollars to 46 investors hit hard by an alleged $156 million Ponzi scheme from first Liberty Building in Lone. The scheme targeted some heavy hitters in Republican circles, including folks from Georgia and Alabama politics, all through a former adviser named Timothy Darnell, who pushed unapproved investments. Raffin's Perger's office pushed the firm, saying they should have supervised him better to avoid this mess. Victims lost big, with grassroots Republicans and even PACs tied to party leaders, feeling the burn, sparked by ads on conservative radio shows. It's got everyone talking, especially since Ponzi scams pop up often, but this one's got that political edge. Raffin's Perger's team already hit three people with $500,000 in civil fines, and referred

them for possible criminal charges. No. One's locked up yet. A court receiver's quang back cash, too, sitting on $5.16 million so far while chasing unpaid loans. Meanwhile, Raffin's Perger's flexing this in his run for governor against the crowded Republican field, fresh off beating back efforts to strip his. These powers and grabbing new tools to repay victims directly.

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