The U.S. Securities and Exchange Commission filed a complaint against Edwin Brant Frost IV of Georgia and his First Liberty Building & Loan, LLC, alleging the business was operated as a Ponzi scheme.The document asserts that Frost and his company "raised at least $140 million from approximately 300 investors through the sale of loan participation agreements and promissory notes that offered annual returns of 8% to 18%."As of 2021, approximately 80% of interest and principal payments to investors were sourced from new investor funds, and not from Bridge Loan interest payments or principal repayments," the SEC complaint claims.WHAT IS A PONZI SCHEME? THE HISTORY OF THE FINANCIAL SCAM FIRST ORCHESTRATED BY CHARLES PONZIThe SEC alleged Frost spent investor funds in various ways, some of which included making more than $570,000 in political donations, buying a $20,800 watch and making "over $2.4 million in payments to credit cards issued to him and his business entities."The Associated Press indicated that Frost is a Republican.KEVIN BACON IS MORE CAREFUL AFTER LOSING MONEY IN INFAMOUS PONZI SCHEME"The promise of a high rate of return on an investment is a red flag that should make all potential investors think twice or maybe even three times before investing their money," said Justin C. Jeffries, associate director of enforcement for the SECs Atlanta regional office, according to a press release."Unfortunately, weve seen this movie before bad actors luring investors with promises of seemingly over-generous returns and it does not end well."Lawyer Joshua Mayes of Robbins Alloy Belinfante Littlefield LLC is representing Frost in the matter, and he provided Fox News Digital with a statement from Frost, who admitted he had misled people.ELON MUSK CALLS SOCIAL SECURITY THE BIGGEST PONZI SCHEME OF ALL TIME"I take full responsibility for my actions and am resolved to spend the rest of my life trying to repay as much as I can to the many people I misled and let down. I will be cooperating with the receiver and federal authorities and ask that everyone allow the receiver time to sort things out and do his best to repair the damage I created," Frost noted in the statement."I would like to apologize personally to those I have harmed, but I am under restrictions which prevent me from doing so. While I do not deserve it, I am grateful for the support of friends and family as I confront this situation I created."

Welcome to the Fox News Politics newsletter, with the latest updates on the Trump administration, Capitol Hill and more Fox News politics content. Here's what's happening-Trump to meet with energy and tech titans in Pennsylvania amid AI dominance push-'Nothing to stand on': Ex-White House physician slams Biden doctor for silence during House GOP grilling-Florida officials reveal criminal backgrounds of migrants held at 'Alligator Alcatraz'The White House is ramping up efforts to remove illegal immigrants from an array of taxpayer-funded benefits, framing the move as part of a broader campaign to reduce government waste.The Trump administration shared additional details on the new restrictions that would bar illegal immigrants from accessing more than 15 federal assistance programs, which collectively account for $40 billion in public spending.White House spokesperson Taylor Rogers told Fox News Digital that illegal immigrants will no longer be able "to steal public benefits at the expense of hardworking American taxpayers."READ MORE.DIPLOMATIC DOWNSIZING: State Department to ax 1,800 employeesTHE PRESIDENT'S VOW: Trump calls Butler widow, Secret Service agrees to meeting after call for accountabilityRALLY REVOLUTION: Journalist Salena Zito explains what the mainstream media gets wrong about Trump rallies'TERRIBLE SITUATION': President Trump, first lady head to visit Kerrville, Texas, following fatal floods'REFUSES TO TOLERATE': DOJ investigating Minnesota hiring practices in latest clash with Wal'ABSURD': DHS fires back after Mahmoud Khalil targets Trump admin for $20M over detentionARMING ALLIES: Trump reveals NATO sale to boost arms to Ukraine as Putin launches overnight maternity hospital strike'SACRED COVENANT': How the Paxton divorce rocks the bruising Republican Senate primary in TexasCOMMON SENSE: Democrat John Fetterman declares support for ICE, condemning any calls for abolition as 'outrageous'WHAT DID SHE KNOW: Biden cover-up probe heats up as another ex-White House aide sits down with GOPGEORGIA SHOWDOWN: SCOOP: Rep. Mike Collins teases Georgia Senate bid'TROUBLING': Court order shields reporters after 'troubling' incidents at California protestsCAPITAL DECEPTION: Missouri launches probe into proxy firms for prioritizing DEI, ESG over returnsMET WITH RESISTANCE: California clinic staffers seek to shield ICE agents from detaining Honduran landscaperRED FLAGS: Republicans use Mamdani as socialist cudgel to bash DemocratsGet the latest updates on the Trump administration and Congress, exclusive interviews and more on FoxNews.com.

World No. 1 Jannik Sinner defeated tennis legend Novak Djokovic in straight sets, 6-3, 6-3, 6-4, Friday to advance to the Wimbledon final at the All England Club.Sinner, 23, will take on Carlos Alcaraz in the final on Sunday. The Wimbledon final is a rematch of the 2025 French Open, where Alcaraz defeated Sinner in a legendary match that went five sets.Djokovic was hampered by a groin injury throughout Friday's match. The 24-time Grand Slam winner sustained the injury in his quarterfinal win over Flavio Cobolli.CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COMThe 38-year-old canceled his practice session Thursday due to the injury, and it was evident throughout the match against Sinner that Djokovic was not moving as well as he normally does.At one point during the match, Djokovic requested a medical timeout to receive treatment on the injured groin.Sinner had just 17 unforced errors compared to Djokovics 28. Djokovic struggled on his second serve, winning just 17% of his second-serve points.CARLOS ALCARAZ DEFEATS AMERICAN TAYLOR FRITZ FOR THIRD STRAIGHT WIMBLEDON FINALSinner and Alcaraz are the first two players to face off in the French Open and Wimbledon finals in the same year since Roger Federer and Rafael Nadal did it in 2008. Nadal won Wimbledon and the French Open that year.Alcaraz is the two-time defending Wimbledon champion and is in his third consecutive Wimbledon final, while Sinner is appearing in his first final in the grass-court tournament.Sinner is 4-8 in his career against Alcaraz and has lost his last five matches against the Spaniard.Sinner and Alcaraz face off Sunday at Centre Court.Follow Fox News Digitals sports coverage on X, and subscribe to the Fox News Sports Huddle newsletter.

Things did not go well for the New York Mets on the field Thursday, but it was almost worse in the Mets' broadcast booth.The Mets were swept in their doubleheader against the Baltimore Orioles Thursday at Camden Yards, and one of the franchise's retired legends was inches away from joining a couple Mets on the injured list.In the bottom of the seventh in game two of the doubleheader, O's outfielder Cedric Mullins hit a foul ball straight back and toward the SportsNet New York (SNY) booth.CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COMPlay-by-play announcer Gary Cohen said the ball "went right past Keith [Hernandez]'s ear, and he never saw it."Cohen was not lying.Hernandez is one of the greatest defensive first basemen of all time with 11 Gold Gloves. Naturally, the O's broadcast team thought he had caught the ball.But SNY showed a replay from inside the booth, and while Cohen geared up to potentially catch it, Hernandez's eyes were nowhere near the ball.The replay showed Hernandez looking back down and only reacting to the noise of the ball hitting the wall behind him. And hilarity ensued in the booth.YANKEES EXPLOIT MARINERS CLOSER'S INCOMING PITCHES WITH WILD MOVEMENTS TO RELAY SIGNS"We can laugh about it now. But if that ball had been just a few feet to the left, you could have been done for the season. Or maybe forever," Cohen said.The Mets led 1-0 entering the eighth inning of the first game, but the bullpen could not hold the lead. Baltimore won the second game, 7-3, despite a 2-0 deficit in the first inning.New York is 8-17 in its last 25 games and has squandered a 5-game lead in the NL East. The Mets trailed the Philadelphia Phillies by 1 games entering play Friday.Follow Fox News Digitalssports coverage on X,and subscribe tothe Fox News Sports Huddle newsletter.

A man from the United Kingdom was arraigned Friday in Brooklyn federal court after being charged with running a $99 million money laundering scheme through a faux wine company.James Wellesley, 56, was arraigned after his extradition from the U.K., where he and co-defendant Stephen Burton, 58, were arrested in 2022.The two are charged with wire fraud conspiracy, wire fraud and money laundering conspiracy in an alleged scheme perpetrated through Bordeaux Cellars, a company Wellesley and Burton operated.TWO MEN CONVICTED IN PENNSYLVANIA MAYORAL RACE ELECTION FRAUD CASE HIT WITH HARSHER SENTENCES THAN EXPECTEDThe indictment alleges that from at least June 2017 through February 2019, Wellesley and Burton posed as executives at Bordeaux Cellars, soliciting investors in New York and at investor conferences in the U.S. and overseas.Wellesley and Burton told investors Bordeaux Cellars brokered loans between investors and wealthy wine collectors that would be fully collateralized by high-value collections of wine, according to court documents.They also allegedly promised that investors would receive regular interest payments from the borrowers and that Bordeaux Cellars would keep custody of the wine, securing the loans while the loans were outstanding.Prosecutors claim the "high-net-worth wine collectors" did not exist, and Bordeaux Cellars did not have the wine that was supposedly securing the loans.Instead, Wellesley and Burton used the money they made from incoming loans to make fraudulent interest payments to investors and for their own personal expenses, resulting in $99 million in misdirected funds, according to court documents.MENENDEZ TO REPORT TO PRISON FOR 11-YEAR TERM FOR CORRUPTION"Todays arraignment sends a message to all perpetrators of global fraud schemes that my office will work tirelessly to ensure they answer for crimes committed in the United States," United States Attorney Joseph Nocella wrote in a statement."We will not rest in our efforts to seek justice for victims of fraud."FUGITIVE ACCUSED OF SEVERAL BANK ROBBERIES EXTRADITED TO US AFTER YEARS OF HIDING IN UKRAINERicky Patel, HSI New York special agent in charge, accused the duo of stealing hundreds of thousands of dollars from collectors."James Wellesley and his coconspirator are accused of masterminding their nearly $100 million international fraud scheme that exploited the unsuspecting public, including New Yorkers, for their own selfish enrichment," Patel said."As alleged, the defendants claimed Bordeaux Cellars boasted a high-value wine stockpile and a clientele of high-net-worth wine collectors and, in turn, profited handsomely, all while they swindled investors out of hundreds of thousands of dollars, if not more."Burton was extradited from Morocco in 2023 and is awaiting trial.Wellesley was ordered detained pending trial.If convicted, the pair face up to 20 years in prison.

Gervonta "Tank" Davis was arrested on battery and domestic violence charges, Miami-Dade County Corrections and Rehabilitation records show.The professional boxer was booked into the Turner Guilford Knight Correctional Center in Florida Friday, the records say. A bond amount has yet to be set.The arrest marks the latest chapter in Davis' legal troubles.CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COMHe was placed under house arrest in June 2023 after he entered a guilty plea in a hit-and-run crash that left four people injured in November 2020. Davis later violated the terms of his sentence and was jailed for the remainder of his sentence.According to police, Davis and the alleged victim were in a romantic relationship for several years and share two children.According to the report, Davis arrived at his ex-girlfriend's home with the intention of picking up their children. However, an argument ensued.MEXICAN BOXER JULIO CESAR CHAVEZ JR. ARRESTED BY ICE DAYS AFTER FIGHTING JAKE PAULDavis reportedly instructed the unnamed woman to remove the children from his vehicle and said he no longer intended to take them with him. The dispute eventually escalated into a physical altercation, according to police.Authorities said Davis refused to fill out a Miranda warning form once he arrived at a police department Friday.Davis had a 30-0 record until his bout against Lamont Roach Jr. ended in a draw.Follow Fox News Digitals sports coverage on X, and subscribe to the Fox News Sports Huddle newsletter.

Los Angeles Mayor Karen Bass signed an executive order Friday to bolster protocols and support immigrant neighborhoods, including offering cash assistance, in response to raids by the Trump administration targeting those living in the United States illegally.The order is intended to help protect the city's workforce and residents from the federal government during immigration enforcement operations. It also demands that federal agencies provide records of the raids, who was detained and for what reason and the cost to taxpayers, which will be part of a Freedom of Information Act (FOIA) request. "There is a need for me to have an executive directive to help our city understand how to protect itself from our federal government," Bass said at a press conference. "What we have seen here over the last, now six weeks of raids that pop up, and we never know exactly when and where they're going to happen.LA MAYOR JOINS CONTROVERSIAL LAWSUIT TO BLOCK TRUMPS IMMIGRATION ENFORCEMENT MEASURES"The directive will help city workers know how to address immigration officials should they approach a city department," she added.The order also requires city departments to create a plan for protocols and training on how to comply with Los Angeles' sanctuary city ordinance.In addition, Bass said a plan is being worked out to provide cash assistance to those affected by the enforcement operations, the Los Angeles Times reported. Cash cards with a "couple hundred" dollars on them will be distributed by immigrants' rights groups in about a week, Bass said.The money will not come from city coffers, but from philanthropic partners, she said."Youre telling me that isnt a Babylon Bee headline?" a White House spokesperson told Fox News Digital, referring to the satirical news site. "Recent immigration enforcement in California has resulted in successfully detaining countless violent criminals and liberating children from illegal labor exploitation. But instead of helping these children or putting American citizens first, Bass is doubling down on her defense of illegal aliens.LA MAYOR RIPPED FOR INTERFERING WITH ICE RAID AT CRIME-RIDDEN LOCAL PARK: 'FULL OF S---'"Americans are sick of these pathetic stunts from Democrat politicians. Thats why they elected President Trump," the spokesperson added. "They want someone who will put America First, and its certainly not Karen, Gavin & Co."Bass has condemned immigration operations targeting criminal illegal immigrants in the city. Los Angeles is one of several cities suing the Trump administration over the "unlawful" raids.Immigration agents on Thursday raided a cannabis farm in nearby Ventura County to target illegal immigrants working there. Ten illegal immigrant minors, eight of them unaccompanied, were found at the farm, U.S. Customs and Border Protection Commissioner Rodney Scott said.The farm is now being investigated for potential child labor violations.Earlier in the week, nearly 100 National Guard troops and immigration authorities targeted crime-ridden MacArthur Park in Los Angeles, prompting Bass to go to the park to demand a halt to the operation, which was rebuffed by U.S. Border Patrol Chief Gregory Bovino."I dont work for Karen Bass," Bovino told Fox News at the time. "Better get used to us now because this is going to be normal very soon. We will go anywhere, anytime we want in Los Angeles."Fox News Digital has reached out to Bass' office.

Turning Point USA Founder Charlie Kirk cautioned Friday that the Republican Party risks losing support from the same young voters who propelled President Donald Trump to the White House if it fails to follow through on key promises."The biggest threat to the Republican Party in 2028 is if we do not deliver on our promises of [home]ownership for the next generation," Kirk told Fox News Digital in an interview at the Turning Point Student Action Summit in Tampa, Florida. "The youth vote didn't just vote for Donald Trump. Young voters put Donald Trump in the White House."Kirk discussed the future of the conservative movement, why Generation Z is trending rightward, and why tech giants are suddenly showing interest in engaging with Republicans.I'M A YOUNG DEMOCRAT AND I'VE GOT TO ADMIT MY PARTY IS LOSING 2025 WHILE LOOKING AT 2028The influential conservative media personality said there was no doubt that younger voters were trending conservative, and he believes that the shift was largely driven by losses from the COVID-19 pandemic. Canceled milestones like prom, graduation, and in-person learning had a huge impact on this generation, he said."There's very low trust of institutions and the institutions have failed them," Kirk told Fox News Digital. "Primarily, if you're 18, 19, 20, 21 right now, that kind of portion of Generation Z, they were lied to during COVID and so much of their livelihood and so much of what they care about, and they're deeply passionate about was taken from them abruptly So they're a little bitter about that."Kirk also pointed to skyrocketing prices and record-breaking illegal border crossings under the Biden administration as driving factors behind Gen Z's growing alignment with Trump. But he warned that unless Republicans can deliver solutions, the party risks alienating this emerging bloc of voters by 2028."If we don't fix the homeownership problem in this country, the cost-of-living crisis, and if we don't give the next generation [a chance] at being owners and not renters, we are going to see what I call Mamdani-ism spread across the country," he predicted.CHARLIE KIRK WARNS MAMDANI EFFECT METASTASIZING IN THE DEMOCRATIC PARTY WITH GRIEVANCE-BASED POLITICSZohran Mamdani, the democratic socialist assemblyman from Queens, soared to victory in New York City's Democratic primary mayoral race on a hard-left platform that included freezing rent, city-owned grocery stores, free buses, free childcare, raising corporate taxes and massively increasing the minimum wage."Mamdani-ism is the radical element of the Democratic Party, which is bitterness, discontent, the mobilization of grievances," Kirk told Fox News Digital. "Where it is free stuff, populism weaponized against the American public." He sees 2028 as a battle between two choices for America: an "optimistic" and patriotic vision where Americans take pride in ownership or one that follows more closely to Mamdani's views.Voters under 30 were the "decisive element" in the 2024 election, Kirk said, boosting Trump to victory in key swing states like Michigan and narrowing the gap in bluer places."So we must deliver for this cohort. We must show them that their lives are tangibly better, or else in 2028, we're going to be in a much more competitive race than I'd like to be," he said.Big Tech has also seemed to notice the generational shift to the right, with several Silicon Valley leaders appearing to want a friendlier relationship with President Trump in his second term.Meta was one of the tech companies sponsoring the conservative event in Tampa. Kirk said hes "thrilled" that Silicon Valley seems more open to conservatives after years of tension and hostility between the two over social media censorship.With Kirk and other Turning Point figures success on social media, he thinks it should be a "no-brainer" for tech companies to seek a friendlier relationship with young conservatives."7,000 students, this is your target demo," he said. "And secondly, we want to dominate on these platforms because, honestly, we already are. I mean, my personal Instagram, I think we're upwards of almost 6.4 million followers. We get billions of impressions a year. You know, were very viral around TikTok. So I can't speak for Mark Zuckerberg, but we're thrilled to have Meta, Rumble and any other tech companies as well."Fox News' Emma Colton contributed to this report.

The parents of 8-year-old Kellyanne Elizabeth Lytal confirmed to Fox News Digital Friday that Texas Rangers identified her as one of the Camp Mystic girls killed in the Texas Hill Country floods.The Lytal family described Kellyanne, who went missing on the Fourth of July, as a "shining light in this world.""She was kind, fearless, silly, compassionate, and a loving friend to everyone," the family wrote in a statement to Fox News Digital.TEXAS FLOOD SURVIVORS SHARE HARROWING STORIES, SEARCH CONTINUES FOR THOSE STILL MISSINGThey added she "believed deeply in Jesus," noting they "rejoice in the comfort of knowing she is in Heaven with our Lord and Savior."Camp Mystic, an all-girls private Christian retreat, reported 27 girls missing after the Guadalupe River flooded and waters rushed through the campground.They are all presumed dead, and first responders continue to search for remains.NASA SENDS SPECIALIZED AIRCRAFT, TECHNOLOGY TO AID TEXAS FLOOD SEARCH AND RECOVERY OPERATIONS"Even though she was taken from us way too early, we thank God for the eight magical years we got to share with her," the Lytals wrote. "Our family wants to thank everyone for their prayers and support during this difficult time. We are forever grateful for the men and women who are assisting in the Search and Rescue efforts."At least 119 people died in the floods, and at least 176 people remain missing, according to officials.'WALL OF WATER': TEXAN RECOUNTS CATASTROPHIC MIDNIGHT FLOOD SURGE THAT SWEPT AWAY 27 GIRLS AT CAMP MYSTICIn Kellyanne's honor, the family established the Kellyanne Elizabeth Lytal Memorial Foundation to give to charitable causes that were dear to her heart.The fund is part of the Greater Houston Community Foundation, a tax-exempt organization.The Lytal family asked for continued prayers for all the families affected by the tragedy.

As the probe into Joe Bidens mental acuity continues, the former presidents personal physician, Kevin OConnor, DO, made an appearance this week in Washington, D.C., in front of the House Oversight Committee.O'Connor sat down for a closed-door interview on Wednesday with committee staff and panel chair James Comer, R-Ky. but O'Connor invoked the Fifth Amendment to all questions, save for his name, as Fox News Digital previously reported.In the wake of this, many people have been wondering: What's the difference between a doctor of osteopathic medicine (DO) and a doctor of medicine (MD)?EX-WHITE HOUSE PHYSICIAN SLAMS BIDEN DOCTOR FOR SILENCE DURING HOUSE GOP GRILLINGDr. Marc Siegel, Fox News' senior medical analyst, confirmed that the capabilities of both a DO and an MD are the same, even when it comes to acknowledging mental decline or diagnosing and screening for prostate cancer."He's a DO and he's a family practitioner," said Siegel. "With that training, he should know how to screen for prostate cancer."Training as a DO should not "take away" from medical training or medical education, said Siegel, whos an internist it only adds osteopathic methods such as manipulative treatment."I'm trained to be able to suss out cognitive decline," said Siegel. "I'm not a specialist in that, but I can certainly screen for that. And so should a family practitioner who went to osteopathic school."He added, "He's a guy who should say, Hey, [Bidens] got some cognitive decline. Let me get a neurologist in here."For more Health articles, visitwww.foxnews.com/healthAs a White House physician, OConnors responsibility was to address the medical needs of the president.But DOs have more of a focus on the "mind, body, spirit connection," according to Cleveland Clinic.MDs and DOs have similar schooling, do the same jobs, can prescribe medicine and practice anywhere in the country. Still, DOs approach medicine more holistically, according to the same source.Cleveland Clinic defines osteopathic medicine as treating patients as a whole and improving wellness through education and prevention.DOs also receive extra training in osteopathic manipulative medicine (OMM), which is a hands-on method for treating and diagnosing patients.This alternative training and approach dont define a doctors practice, as DOs use "all types of modern medical treatments," according to Cleveland Clinic while MDs can also provide whole-person, preventive care.WARDING OFF ALZHEIMER'S MIGHT MEAN MAKING THESE 11 LIFESTYLE CHANGES, EXPERT SAYSDO training was first developed in 1892 by physician Andrew Taylor Still, MD, who changed his philosophy of medicine after the Civil War, the same source noted.He believed traditional medicine to treat spinal meningitis, which killed three of his children, was ineffective and developed the concept of osteopathic medicine.In the U.S., as of 2023, there were 154 allopathic medical schools using medication, surgery and other interventions to treat illnesses and 38 otheopathic medicine schools, according to Cleveland Clinic.A 2024 report from the American Osteopathic Association found that 57% of DOs practice family medicine, internal medicine and pediatrics compared to 28% of MDs.CLICK HERE TO SIGN UP FOR OUR HEALTH NEWSLETTERThe number of DOs in the U.S. has been on the rise in the last decade, according to the same report.Nearly 70% of DOs in active practice are under age 45 and 45% are female.Several U.S. presidents have been under the care of osteopathic physicians in recent years.OConnor was appointed by Biden in 2021, serving until March 2025 in the role of White House physician.For more Health articles, visitwww.foxnews.com/healthDr. Sean Barbabella, DO, stepped into the role that same month. He is a decorated Navy physician who served in Afghanistan and Iraq.Before becoming physician to President Donald Trump, Barbabella ran the Naval Health Clinic Cherry Point in Havelock, North Carolina, according to multiple sources.Dr. Sean Conley, DO, served as a physician to Trump during his first term, from 2018 to 2021.House GOP members, including Rep. Ronny Jackson, R-Texas, a former White House doctor himself, continue to investigate accusations that Biden's former top White House aides covered up signs of his mental and physical decline while in office, and whether any executive actions were commissioned via autopen without the president's full knowledge.Biden allies have been pushing back on those claims.Fox News Digitals Elizabeth Elkind contributed reporting.