ATLANTA — Dozens of victims of an alleged Georgia-based Ponzi scheme are set to recover their money following a $6.7 million settlement.

Secretary of State Brad Raffensperger says 46 people who lost money after investing with First Liberty Building and Loan will have their funds returned.

He says financial services firm Bankers Life has agreed to pay back the $6.7 million it received from those investors through the alleged scheme.

“That’s nearly one-third of the victims we have spoken to,” Raffensperger said.

“While this is the first of these types of agreements, I hope it is not the last,” Raffensperger added.

Raffensperger says efforts to make victims whole are ongoing, and officials are urging any additional victims to come forward.

One of the victims, 93-year-old Jay McMaster, says the settlement marks a significant moment after a long process.

“Today marks an extraordinary moment in a long and difficult journey,” McMaster said.

He added, “The remaining victims, myself included, will soon see the same light at the end of the tunnel.”

Raffensperger says the investigation into the case is still ongoing.

Stay with WSB Radio for updates.

WSB Radio’s Jonathan O’Brien contributed to this story.