A sentencing hearing is set for Friday for the mastermind behind a large Ponzi scheme. The individual, who pleaded guilty to wire fraud, is accused of running a scheme that defrauded numerous investors. The scheme involved a now-defunct lending firm based in Newnan.

Prosecutors allege that investors were promised big returns, but their money was used to fund the perpetrator's lifestyle and pay off earlier investors. Further details about the case, including the perpetrator's identity and the scope of the scheme, are available from Atlanta News First. The case has connections to local politics, with the perpetrator being a significant donor to Republican politicians in Georgia.