A federal judge has approved the court-appointed receiver’s plan to auction several assets tied to the Frost securities fraud case, including the former First Liberty Building & Loan office in downtown Newnan, marking the first major step toward liquidating property for investors.

In an order signed Nov. 20, U.S. District Judge Michael L. Brown authorized Receiver S. Gregory Hays to hire Bullseye Auction & Appraisal LLC and begin selling property belonging to the receivership estate. The order covers an Aston Martin, multiple vehicles and the First Liberty office at 14 Greenville St., which carries an outstanding note of about $165,000. Any valid liens must be paid from the sale proceeds, with remaining funds held for the benefit of investors until further court instruction.

The receiver

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