Brad Heppner Indictment: Beneficient Founder and Ex‑GWG Chair Arrested—What We Know Today (Nov. 6, 2025)
Federal prosecutors unsealed a five-count indictment accusing Bradley “Brad” Heppner of misappropriating over $150 million from GWG Holdings through a shell entity, routing funds to his personal accounts. Heppner was arrested in Dallas; the case is assigned to Judge Jed S. Rakoff in New York. GWG’s 2022 bankruptcy left retail bondholders with over $1 billion in losses. Kansas regulators are scrutinizing a related state bank charter.
