The court-appointed receiver in the federal fraud case involving First Liberty Building & Loan says more than $1.4 million in cash and assets have been secured as part of ongoing efforts to recover investor funds.

In a quarterly report filed Thursday in U.S. District Court in Atlanta, Receiver S. Gregory Hays said none of the roughly 60 loans made by First Liberty are current and that collecting on those loans “will be an expensive and protracted process” expected to take months of litigation.

He also reported the recovery of two vehicles and several properties, including First Liberty’s former downtown Newnan office.

The report said more than $300,000 in political and charitable contributions made with investor money have already been returned to the receivership. Hays also noted that

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