Brad Heppner found guilty of fraud in GWG collapse
Updated
Updated · The Wall Street Journal · May 7
Brad Heppner found guilty of fraud in GWG collapse
6 articles · Updated · The Wall Street Journal · May 7
A Manhattan federal jury convicted the Texas businessman on securities fraud, wire fraud, conspiracy and false-statements charges tied to more than $1 billion in investor losses.
Prosecutors said Heppner misled a GWG board committee between 2019 and 2021 to steer company funds to Beneficient, siphoning over $150 million through an entity he controlled.
GWG filed for bankruptcy in 2022 with more than $2 billion in debt, including about $1.3 billion owed to retail bond investors; Heppner's lawyer declined to comment.
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