Brad Heppner Indictment: Beneficient Founder and Ex‑GWG Chair Arrested—What We Know Today (Nov. 6, 2025)
Federal prosecutors allege that between 2018 and 2021, while he chaired GWG Holdings and led Beneficient, Heppner created a $141 million “debt” on Beneficient’s books supposedly owed to HCLP—an entity they say he controlled. GWG then authorized transfers that ultimately sent more than $150 million to Heppner through HCLP, according to the indictment. Prosecutors say the funds helped finance personal expenses, including renovations to a Dallas residence and work on an East Texas ranch. Department of Justice+1