Latest news with #Kennebunkport
Yahoo
5 days ago
- Business
- Yahoo
Officials probing Georgia GOP donor accused of $140 million Ponzi scheme
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, and using some of the money for political donations. Authorities have accused Georgia-based Liberty Building & Loan and its owner Edwin Brand Frost IV of defrauding more than 300 investors. According to a complaint filed by the SEC, Frost "misappropriated a significant amount" of the company's investor assets, including $570,000 in investor funds used to make political donations. MORE: How far would a wife go to keep $2M Ponzi scheme a secret? The complaint also said $335,000 in investor funds was paid to a rare coin dealer, $230,000 was used to rent a vacation home in Kennebunkport, Maine, $140,000 was used to purchase jewelry and $20,800 was used to purchase a Patek Philippe watch. "Given that First Liberty was operating at a loss, Frost was not entitled to these funds according to what he told investors as to how he would be compensated," the civil complaint, filed in Georgia on Thursday, said. According to the complaint, Frost and his companies in part told investors their funds would be used to make short-term small business loans, and that they would receive large returns. "Beginning no later than 2021, First Liberty began operating as a Ponzi scheme," the complaint alleged. The complaint alleged the company started soliciting funds first from "friends and family," but last year "started a more widespread public solicitation of potential advisors," advertising on radio and podcasts. According to the complaint, "Most, if not all, of the funds raised through the publicly advertised offering were either misappropriated or used to make Ponzi-style payments to existing investors." Frost, in a statement provided by his attorney, said he takes complete responsibility and is working to pay back investors. "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," Frost said in the statement. "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. I would like to apologize personally to those I have harmed." A message on the company's website said it had "ceased all business operations" and is "cooperating with federal authorities as part of an effort to accomplish an orderly wind-up of the business." Georgia Secretary of State Brad Raffensperger said in a statement that his office has an "active and ongoing investigation" and encouraged any potential victims to come forward "immediately." MORE: Bernie Madoff's victims to receive final payout totaling $131 million An FBI official told ABC News, "The FBI is aware of the allegations. However, the FBI does not comment upon the existence or the nonexistence of any investigation. Anyone who believes they have information about the matter can file a complaint at On Friday, a judge in Georgia entered an order freezing the defendants' assets, among other measures. The SEC said the defendants had consented to the move "without admitting or denying the allegations in the complaint." ABC News' Luke Barr contributed to this report.
New York Times
21-06-2025
- New York Times
Why More Newlyweds Are Honeymooning Closer to Home
Jennifer Repetto and Mark La Bella had planned on taking a weeklong honeymoon after their Dec. 27 wedding in Philadelphia. But instead of jumping on a plane to the Caribbean or some far-flung locale, the couple, who live in North Wales, Pa., headed off to coastal Maine. 'We wanted to keep it simple and low-key and not change time zones,' Ms. Repetto said. 'The trip was about being with each other without spending a fortune.' Their getaway began at Cliff House Maine in Cape Neddick on the southern coast, where they celebrated New Year's Eve. Ms. Repetto, 44, a middle-school math teacher, and Mr. La Bella, 51, an owner of a sheet-metal fabrication business, then drove a rental car 45 minutes north to the Cape Arundel Inn & Resort in Kennebunkport. 'We had great seafood, cozy dinners, soaks in hot tubs and took walks along the water,' Ms. Repetto said. 'We came back refreshed, not exhausted, which is exactly what we wanted our honeymoon to be about.' Married couples have traditionally used their honeymoons as an opportunity to take once-in-a-lifetime trips that have long been on their wish lists or to book stays at romantic resorts in the Caribbean or farther afield. More recently, however, many newlyweds have been opting for domestic honeymoons instead. The shift can be attributed to several factors, including constrained budgets, limited time off, or a desire to avoid the complications of international travel. Many couples are also increasingly drawn to the idea of a more laid-back, relaxed honeymoon without the pressure of a packed itinerary. Want all of The Times? Subscribe.
Yahoo
09-06-2025
- Yahoo
Maine Fire Marshall's Office investigating fire that destroyed garage in Kennebunkport
The Maine Fire Marshal's Office is investigating a fire that destroyed a garage and severely damaged a home in Kennebunkport. On Friday, around 7:30 PM, Kennebunkport Fire crews responded to 47 Maine Street, also known as 'The Tamaracks,' to reports of a fire. Due to the size of the fire, mutual aid was provided by Kennebunk, Wells, Arundel, and Biddeford Fire Departments. The fire was eventually put down, but not before destroying a garage, severely damaging a home adjacent to it, and also destroying numerous vehicles either stored in or around the garage. No injuries were reported, but a family has been displaced due to the damage to their home. Investigators say that a motorcycle had been started just before the fire began, which is being considered a possible cause of the fire. Kennebunk and Kennebunkport Fire Departments are assisting the Fire Marshal's Office with the ongoing investigation. This is a developing story. Check back for updates as more information becomes available. Download the FREE Boston 25 News app for breaking news alerts. Follow Boston 25 News on Facebook and Twitter. | Watch Boston 25 News NOW
Yahoo
09-06-2025
- Yahoo
Kennebunkport family displaced after fire damages home, destroys garage
KENNEBUNKPORT, Maine — Fire officials are investigating the cause of a fire that tore through a property known as 'The Tamaracks' on Maine Street on June 6, reducing a garage to rubble and severely damaging an adjacent home. Crews from the Kennebunkport Fire Department arrived on the scene shortly after 7:30 p.m., assisted by firefighters from Kennebunk, Wells, Arundel, and Biddeford. While no injuries were reported, several vehicles in or near the garage were destroyed, and the blaze displaced the family living in the adjacent home. Shannon Moss, spokesperson for the Maine Department of Public Safety, said investigators from the Maine Fire Marshal's Office responded to the scene on Saturday morning, June 7. "Investigators say a motorcycle that had been started just minutes before the fire began is being considered a possible cause," Moss stated. Moss said the fire is still under investigation. Kennebunk and Kennebunkport Fire Departments are aiding in the ongoing investigation. This article originally appeared on Portsmouth Herald: Kennebunkport family displaced after fire damages home, destroys garage
Asharq Al-Awsat
09-05-2025
- Politics
- Asharq Al-Awsat
Melania Trump Hosts White House Event to Unveil Barbara Bush Postage Stamp
In the White House's East Room on a rainy Thursday, first lady Melania Trump and members of the Bush family gathered to unveil a US postage stamp bearing the portrait of former first lady Barbara Bush. Amid the anticipation of the unveiling, Trump, Bush's daughter Dorothy 'Doro' Bush Koch and Judy de Torok, a vice president at US Postal Service, took turns sharing stories chronicling the former first lady's life and achievements. Bush Koch held back tears recalling moments from her mother's early life. 'Mom was never one to shy away from speaking the truth or taking a stand,' she said. 'With her signature white hair and pearls, she became an icon in her own right, and yet, even as a former first lady, she remained humble and humorous.' The image on the stamp is Barbara Bush's official White House portrait, which currently hangs in the entrance to the East Wing. She is depicted in a black suit and purple blouse, wearing her hallmark triple strand of pearls. After a commemoration ceremony in Kennebunkport, Maine, where the Bush family compound is located, the stamp will go on sale June 10th. Bush notably championed literacy programs and helped destigmatized people with AIDS and HIV when she cradled an infant during a 1989 visit to a hospice for children with the disease. Trump also said she appreciated how Bush inspired people to pursue their personal dreams and was ahead of her time when she made the call for a female American president. 'Who knows?' Trump said. 'Somewhere out in this audience may even be someone who will one day follow in my footsteps and preside over the White House, and I wish him well,' she said to laughs. Barbara Bush died in 2018 at 92 years old. She was married to President George H. W. Bush. She is the mother of former President George W. Bush. She was one of only two first ladies who had a child who was elected president. The other was Abigail Adams, wife of President John Adams and mother of President John Quincy Adams. And in 2016 — at 90 years-old — Barbara Bush campaigned for her son, former Florida Gov. Jeb Bush when he vied for the Republican presidential nomination, according to the George H. W. Bush library. She had strong words for Donald Trump — back in 2016 she said in a joint CNN interview with Jeb Bush that she was 'sick' of the current president. 'He's said terrible things about women, terrible things about the military. I don't understand why people are for him, for that reason,' she said at the time. Melania Trump attended Bush's funeral in 2018 while Donald Trump did not attend. The White House said he stayed away to avoid security disruptions. Bush is the eighth first lady to be honored with a US postage stamp. Bush Koch said: 'It's unlikely that mom ever pictured herself on the postage stamp, and it's very likely that she would be wondering what all this fuss is about.'
