Ex-GWG Holdings Chair Found Guilty of Looting $150 Million (1)

The former chairman of life insurance bond seller GWG Holdings Inc. was convicted by federal jury for fraudulently extracting more than $150 million from the company and using the money for personal expenses, including jewelry and renovations to his home.

Bradley Heppner, 60, was found guilty on all counts after a three-week trial in front of Judge Jed S. Rakoff in the US District Court for the Southern District of New York, according to a release from the US attorney’s office in Manhattan on Thursday. He was charged with securities fraud, wire fraud, conspiracy to commit wire fraud, and false ...