Bankers Life will repay $6.7 million to some victims caught up in alleged $140 million Ponzi scheme

By: Alander Rocha

Outlets: Georgia Recorder

Published: April 1, 2026

Words: 439

Last Updated: 2 months, 2 weeks ago

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Georgia Secretary of State Brad Raffensperger announced Wednesday that some victims of an alleged $140 million Ponzi scheme will be repaid for their lost investments, which he described as a rare outcome in cases of fraud.

The agreement with Bankers Life Advisory Services and Bankers Life Securities will return nearly $6.7 million to 46 victims. The victims were allegedly drawn into the First Liberty Building and Loan scheme by former Bankers Life financial advisor Timothy …

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