ATLANTA (AP) — A prominent Georgia Republican accused of running a $140 million Ponzi scheme publicly apologized on Friday as a federal judge ordered his assets frozen and appointed a receiver to try to recover cash for investors.

The Securities and Exchange Commission and Georgia officials are investigating a Georgia businessman and GOP supporter accused of perpetrating a Ponzi scheme defrauding hundreds of investors out of more than $140 million,

The Securities and Exchange Commission accused a Georgia Republican of running an elaborate Ponzi scheme in a civil lawsuit filed Thursday that scammed 300 investors out of $140 million. Edwin Brant Frost IV is also accused of pocketing $17 million for himself,