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 U.S. Securities and Exchange Commission accuses Georgia man Edwin Brant Frost IV and his First Liberty Building & Loan, LLC, of a Ponzi scheme.

Edwin Brant Frost IV, a well-known Republican, is accused of defrauding 300 investors of $140 million, and using some funds for political donations. He said he took “full responsibility.”